GDN - Gooderson Leisure Corporation Limited - Proposed sale of the business

GDN - Gooderson Leisure Corporation Limited - Proposed sale of the business     
and assets of the Beach Hotel, Durban and cautionary announcement               
Gooderson Leisure Corporation Limited                                           
(Incorporated in the Republic of South Africa)                                  
(Registration number 1972/004241/06)                                            
JSE Share Code: GDN ISIN: ZAE000084984                                          
("Gooderson" or "the company")                                                  
PROPOSED SALE OF THE BUSINESS AND ASSETS OF THE BEACH HOTEL, DURBAN AND         
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are advised that Gooderson has received an offer to sell the       
business and assets of The Beach Hotel in Durban for an amount of R20           
million, from the owner of the building. This offer has been accepted in        
principle by the company, subject to the signing of a formal agreement.         
A detailed announcement will be made once a formal agreement has been           
signed which will include the financial effects. Shareholders are advised       
to exercise caution in dealing in the company`s securities on the JSE until     
such time as the detailed announcement is made.                                 
22 March 2012                                                                   
Durban                                                                          
Designated Advisor                                                              
Exchange Sponsors                                                               
Date: 22/03/2012 14:28:01 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.