ADW - African Dawn Capital Limited - Dealing in securities by directors

ADW - African Dawn Capital Limited - Dealing in securities by directors         
AFRICAN DAWN CAPITAL LIMITED                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/020520/06)                                            
JSE code: ADW                                                                   
ISIN: ZAE000060703                                                              
("Afdawn" or "the company")                                                     
DEALING IN SECURITIES BY DIRECTORS                                              
In compliance with the terms of paragraph 3.63 to 3.74 of the Listings          
Requirements of the JSE Limited, the company hereby discloses the following:    
In the 2011 Afdawn annual report, the company disclosed that Mr TF Kruger,      
the Financial Director of Afdawn, owned 5 541 409 shares in Afdawn indirectly   
through his 16% shareholding in PCI Fintrade (Pty) Limited ("PCI").             
Subsequent to the Afdawn rights offer, concluded on 28 October 2011, PCI`s      
shareholding in Afdawn increased from 36 942 729 shares to 95 882 152 shares.   
The board of PCI has resolved as part of a larger restructuring to unbundle     
some of its shares in Afdawn to Mr TF Kruger. This unbundling will result in    
Mr TF Kruger`s shares in Afdawn being reclassified to a direct beneficial       
interest in Afdawn.                                                             
Mr TF Kruger has agreed to the unbundling as described above. The number of     
shares has however not been agreed.                                             
In terms of paragraph 3.66 of the Listings Requirements, clearance for Mr TF    
Kruger to accept these shares has been obtained. The transfer of shares into    
Mr TF Kruger will be an off-market trade.                                       
A further announcement will be made once the board of PCI have agreed with Mr   
TF Kruger on the final number of shares to be issued.                           
Johannesburg                                                                    
29 February 2012                                                                
Designated Advisor                                                              
Sasfin Capital                                                                  
(A division of Sasfin Bank Limited)                                             
Date: 29/02/2012 16:58:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.