RBA - RBA Holdings Limited - Operational update

RBA - RBA Holdings Limited - Operational update                                 
RBA Holdings Limited                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number:  1999/009701/06)                                          
(JSE code: RBA ISIN: ZAE000104154)                                              
("RBA" or "the group")                                                          
OPERATIONAL UPDATE                                                              
The group wishes to update shareholders on the key operating indicators tabled  
below as at 31 December 2011:                                                   
SNAP SHOT OF WORK IN PROGRESS AT THE       As at      As at      As at          
PARTICULAR POINT IN TIME                   31-Dec-10  30-Jun-11  31-Dec-11      


Deals submitted at banks awaiting bond     351        353        325            
approval                                                                        
Deals approved by banks awaiting           394        431        379            
registration                                                                    
Individual houses under construction       269        215        191            
(excluding houses ready for occupation)                                         
Equivalent houses under construction       184        131        161            
As at 31 December 2011, RBA was awaiting responses in respect of 325            
applications for end user finance that had been submitted to various financial  
institutions.                                                                   
As at 31 December 2011, 379 bond applications were approved and were awaiting   
registration. Included in this figure of 379 are the 62 deals that were lodged  
at the deeds office as at 31 December 2011.                                     
Although sales activities have increased, the work in progress figures remained 
stable year on year due to the fact that efficiencies were introduced to ensure 
that work in progress translates into registrations and ultimately completed    
houses in a shorter period of time.                                             
DATA ILLUSTRATIVE OF THE GROUP`S        12 months   6 months    12 months       
PERFORMANCE DURING THE RELEVANT TIME    ending      ending      ending          
PERIOD                                  31-Dec-10   30-Jun-11   31-Dec-11       
                                                                                
                                                                                
Deals registered                        468         215         590             


Equivalent houses completed *           379         268         613             
* "Equivalent houses completed" takes into account houses under construction at 
the beginning of the period, registrations during the period and houses under   
construction at the end of the period. It represents the number of equivalent   
houses actually completed during the period.                                    
The key indicator of improvement in the group`s performance year on year is     
demonstrated by the data reflecting the "Equivalent houses completed" during the
12 month period ended 31 December 2011 which amounts to 613 houses as opposed to
379 houses for the period ending 31 December 2010.                              
RBA registered 590 deals during 2011 and had an additional 62 deals lodged at   
the deeds office. This gives the group a total of 652 registrations/lodgments   
for the period compared to our forecast of 700. This shortfall was caused by    
attorneys failing to lodge transactions at the deeds office timeously before the
said office closed for the festive season.                                      
Based on prevailing market conditions, RBA plans to register between 900 and    
1000 deals during 2012. This figure excludes the 62 deals which were lodged and 
carried over from 31 December 2011.                                             
17 January 2012                                                                 
Exchange Sponsors                                                               
Designated Adviser                                                              
Date: 17/01/2012 13:46:31 Supplied by www.sharenet.co.za                     
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