AVU - Avusa Limited - Exercise of share-based incentives by, and delivery

AVU - Avusa Limited - Exercise of share-based incentives by, and delivery       
of shares to an executive director                                              
AVUSA LIMITED                                                                   
Incorporated in the Republic of South Africa                                    
(Registration number:  2008/002461/06)                                          
Share code:  AVU    ISIN code:  ZAE000115895                                    
("Avusa")                                                                       
EXERCISE OF SHARE-BASED INCENTIVES BY, AND DELIVERY OF SHARES TO AN             
EXECUTIVE DIRECTOR                                                              
In compliance with paragraphs 3.63 - 3.70 of the Listings Requirements of       
the JSE Limited, the following information relating to the exercise of          
share-based incentives by, and the delivery of Avusa shares to, an              
executive director, is disclosed:                                               
Director                           Howard Benatar                               
Company of which a director        Avusa                                        
Date of exercise of conditional                                                 
awards                             5 December 2011                              
Date of delivery of shares         8 December 2011                              
Exercise price                     R19,15 per conditional award                 
Allocation price                   Nil                                          
Number of shares delivered         20 952 (with 8 381 shares subsequently       
                                  sold to settle employee`s tax)                
Value of transaction               R401 230,80 (before tax)                     
Nature of transaction              Exercise of conditional awards in            
                                  terms of the Long                             
                                  Term Incentive Plan 2008, and delivery        
                                  of Avusa shares                               
Class of securities                Avusa ordinary shares                        
Extent of interest                 Direct beneficial                            
Written clearance to deal          Yes                                          
Johannesburg                                                                    
9 December 2011                                                                 
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 09/12/2011 17:00:22 Supplied by www.sharenet.co.za                     
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