BEG - Beige Holdings Limited - Variation of agreement in relation to the

BEG - Beige Holdings Limited - Variation of agreement in relation to the        
acquisition of rap products international (PTY) LTD                             
BEIGE HOLDINGS LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1997/006871/06)                                            
("Beige" or "the company")                                                      
ISIN Code: ZAE000034161       Share code: BEG                                   
VARIATION OF AGREEMENT IN RELATION TO THE ACQUISITION OF RAP PRODUCTS           
INTERNATIONAL (PTY) LTD ("RAP")                                                 
Shareholders are advised that Beige has entered into final settlement           
agreements with two of the vendors of RAP, namely Messrs A Protti and B Frewen, 
("the Vendors"), whereby one of the terms of the agreement as announced on SENS 
on 27 May 2008 was that within 7 (seven) days of receiving payment in terms of  
the Sale of Shares and Claims Agreement, the Vendors would subscribe for new    
publicly listed shares of the Purchaser at the then ruling price thereof to the 
order of 75% (seventy five percent) of the amount they each received in terms   
of the Sale of Shares and Claims Agreement.                                     
Due to the time delays of receiving Competition Commission approval and the     
subsequent decline in share price during this time period, the subscription     
price of 25 cents per share was disputed.  Beige and the Vendors have           
subsequently agreed that the subscription price be reduced to 14 cents per      
Beige share, which 11 833 856 shares will be transferred to the Vendors from    
the treasury shares held by Beige.  The amount as determined by the agreement   
has not been varied and the financial effects of the above variation are        
immaterial.                                                                     
The Vendors have remained as directors of RAP, which is now a wholly owned      
subsidiary of Beige.  However, the Vendors were not related parties at the      
time of signing of the original RAP acquisition agreement.  The variation of the
agreement does not require shareholder approval in terms of the JSE Listings    
Requirements.  In addition, a directors` dealings announcement is not required  
due to RAP not being a major subsidiary of Beige as defined in the JSE Listings 
Requirements.                                                                   
Johannesburg                                                                    
30 September 2011                                                               
Sponsors                                                                        
Arcay Moela Sponsors                                                            
(Proprietary) Limited                                                           
(Registration number 2006/033725/07)                                            
Date: 03/10/2011 07:16:01 Supplied by www.sharenet.co.za                     
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