PNG - Pinnacle Point Group Limited - Update announcement

PNG - Pinnacle Point Group Limited - Update announcement                        
PINNACLE POINT GROUP LIMITED                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration Number 2000/000059/06)                                            
JSE Share code:  PNG                                                            
NSE Share code: PNG                                                             
ISIN: ZAE000127122                                                              
("Pinnacle Point" or the "Company")                                             
UPDATE ANNOUNCEMENT                                                             
Shareholders are referred to the update announcement dated 22 August 2011       
and advise that the business rescue applications for one of the                 
subsidiaries, namely Eagle Creek Investments 74 (Proprietary) Limited,          
which was set down to be heard on 01 September 2011, will not be heard as       
the application was never issued and served.                                    
A return date of 01 November 2011 to bring a fresh application for the          
business rescue has since been given.                                           
Accordingly, shareholders will be kept informed of developments and should      
continue to exercise caution in dealing in their shares until a further         
announcement is made.                                                           
Johannesburg                                                                    
29 August 2011                                                                  
Designated Advisor                                                              
Arcay Moela Sponsors (Proprietary) Limited                                      
Date: 29/08/2011 17:37:01 Supplied by www.sharenet.co.za                     
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