SBL - Sable Holdings Limited - The Disposal of an Investment Property and

SBL - Sable Holdings Limited - The Disposal of an Investment Property and       
withdrawal of cautionary announcement                                           
SABLE HOLDINGS LIMITED                                                          
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)                                  
(REGISTRATION NUMBER: 1968/010636/06)                                           
("SABLE")                                                                       
SHARE CODE: SBL       ISIN: ZAE000006383                                        
THE DISPOSAL OF AN INVESTMENT PROPERTY AND WITHDRAWAL OF CAUTIONARY             
ANNOUNCEMENT                                                                    
1.   Introduction and terms                                                     
    Shareholders are referred to announcements released on SENS on 26           
January 2012, 16 February 2012, and 28 March 2012 wherein Sable advised     
    that it had, through its wholly-owned subsidiary, Sable Place Properties    
    106 Proprietary Limited ("the Seller"), entered into a Sale of Letting      
    Enterprise Agreement with Erf 712 Fairland Proprietary Limited ("the        
Purchaser") in terms of which the Seller will dispose of Erf 712,           
    Portion 1 of Erf 713 and the Remaining Extent of Erf 713 ("the              
    Property") situated in Fairland Township for a consideration of             
    R16,850,000 to the Purchaser ("the Disposal").                              
Shareholders are advised that the due diligence and valuation have been     
    completed and the information relating to the Property is set out below:    
    Property    Location   Sector      GLA       Single or Weighted             
                                       mSquared  Multi-    average rental       
tenanted  (including           

                                                           parking)  per        
                                                           mSquared (Rand)      
    Erf 712,    Fairland   Retail      2,689     Multi-    R77.67               
Portion 1                          mSquared  tenanted                       
    of Erf                                                                      
    713 and                                                                     
    remaining                                                                   
extent of                                                                   
    Erf 713,                                                                    
    Fairland                                                                    
    Township                                                                    
Vacancy by         Annualised property  Disposal Price                       
   rentable area      selling yield %                                           
   mSquared                                                                     
   196.31mSquared     12%                  R16,850,000                          
Note:                                                                       
    1.   As at 04 May 2012, the value of the property listed above of           
         R16,850,000 was arrived at by the independent external property        
         valuer, Hans Engelbrecht of Currie Property Expertise, which is        
registered as Professional Associates Valuers in terms of the          
         Property Valuers Profession Act no. 47 of 2000.                        
    2.   Withdrawal of cautionary announcement                                  
Having regard to the information disclosed above, shareholders are advised      
that they no longer need to exercise caution when dealing in the company`s      
securities.                                                                     
Sandton                                                                         
15 May 2012                                                                     
Designated Advisor: Sasfin Capital                                              
(A division of Sasfin Bank Limited)                                             
Date: 15/05/2012 13:39:03 Supplied by www.sharenet.co.za                     
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