OCE - Oceana Group Limited - Announcement relating to an acquisition and

OCE - Oceana Group Limited - Announcement relating to an acquisition and        
withdrawal of cautionary announcement                                           
Oceana Group Limited                                                            
Incorporated in the Republic of South Africa                                    
(Registration Number 1939/001730/06)                                            
JSE Share Code: OCE                                                             
NSX Share Code: OCG                                                             
ISIN Number: ZAE000025284                                                       
("Oceana" or "the Group" or "the Company")                                      
Announcement relating to an acquisition and withdrawal of cautionary            
announcement                                                                    
Shareholders are referred to the cautionary announcement dated Monday,          
24 October 2011 and the further cautionary announcement dated Thursday,         
10 November 2011.                                                               
Oceana is pleased to announce that it has, through various subsidiaries,        
concluded agreements to purchase the hake, horse mackerel and south             
coast lobster fishing rights and related assets of the Lusitania group          
and associated companies as well as its cold storage business ("the             
Transaction").                                                                  
The Transaction is subject, inter alia, to the approval of the Minister         
of Agriculture, Forestry and Fisheries as well as the Competition               
Commission. Should the Transaction become unconditional, it is expected         
to be effective in March 2012. As the Transaction value is less than 5%         
of the Company`s market capitalisation, detailed information has not            
been provided in terms of the Listings Requirements of the JSE Limited.         
The Transaction would increase the Group`s interest in the hake industry        
from 1.1% to 4.4%, in horse mackerel from 18.8% to 22.8%, in south coast        
lobster from 3.1% to 25.7% and increase the commercial cold storage             
capacity of the group by 4.1%.                                                  
Accordingly, following the release of the information as set out above,         
shareholders no longer need to exercise caution when dealing in their           
Oceana shares.                                                                  
Cape Town                                                                       
21 November 2011                                                                
JSE Sponsor                                                                     
The Standard Bank of South Africa Limited                                       
NSE Sponsor                                                                     
Namibia Old Mutual Investment Services (Namibia) Proprietary Limited            
Date: 21/11/2011 10:00:46 Supplied by www.sharenet.co.za                     
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