SUR - Spur Corporation Limited - Changes to the board of directors of Spur

SUR - Spur Corporation Limited - Changes to the board of directors of Spur      
SPUR CORPORATION LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/000828/06)                                            
Share Code: SUR ISIN: ZAE000022653                                              
("Spur")                                                                        
BOARD OF DIRECTORS OF SPUR                                                      
At a meeting of the Board of Directors of Spur ("Board") on 29 February 2012,   
the following was duly approved in respect of Spur and its subsidiaries ("Spur  
Group"):                                                                        
1.   Pierre van Tonder was appointed as the Chief Executive Officer of the Spur 
Group.  Previously he was the Spur Group Managing Director.                 
2.   Mark Farrelly was appointed as the Chief Operating Officer of the Spur     
    Group.  Previously he was the Spur Group Deputy Managing Director.          
3.   Ronel van Dijk`s title as Group Financial Director was re-designated to    
Chief Financial Officer of the Spur Group.                                  
4.   Kevin Robertson was appointed to the board of Spur Group (Pty) Ltd (the    
    principal operating subsidiary of Spur) as Franchise Executive.  Pursuant   
    to this appointment, the board accepted his resignation as a director of    
Spur.                                                                       
5.   Phillip Joffe`s retirement as a director of Spur following his request to  
    devote more time to his personal affairs whilst continuing to be actively   
    involved in a managerial capacity in the financial activities of the Spur   
Group.                                                                      
It is confirmed, subject to the above, that there are no further changes in the 
composition of the Board of Spur, including that Allen Ambor remains as         
Executive Chairman and Mntungwa Morojele remains as Lead Independent Director.  
It follows that the Board of Spur now comprises 9 directors, of whom 4 are      
executives and 5 non-executives.  This results in further compliance with King  
III in that the Board now comprises a majority of non-executive directors.      
Cape Town                                                                       
2 March 2012                                                                    
Sponsor                                                                         
Sasfin Capital                                                                  
(A Division of Sasfin Bank Limited)                                             
Date: 02/03/2012 12:00:02 Supplied by www.sharenet.co.za                     
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