ERB - Erbacon Investment Holdings Limited - Changes to the board and update on

ERB - Erbacon Investment Holdings Limited - Changes to the board and update on  
the debt restructure plan                                                       
Erbacon Investment Holdings Limited                                             
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2007/014490/06)                                           
Share code: ERB                                                                 
ISIN:  ZAE000111571                                                             
("Erbacon" or "the Company")                                                    
CHANGES TO THE BOARD AND UPDATE ON THE DEBT RESTRUCTURE PLAN                    
Shareholders are referred to the Debt Restructure Plan as announced on SENS, and
dated 27 March 2012.                                                            
In order to comply with the requirements of the Companies Regulations relating  
to the composition of an independent board, and in compliance with section      
3.59(a) of the JSE Listings Requirements, shareholders are hereby informed that 
Mr Neill Davies has been co-opted as an independent non-executive director to   
the Board of directors of Erbacon ("the Erbacon Board"), with effect from 16 May
2012 and until the next annual general meeting.                                 
Neill Davies is a Chartered Accountant by profession and currently serves on the
board of Supergroup Ltd as a non-executive director. He held senior financial   
positions at various companies before he joined the Allied Electronics          
Corporation Ltd, initially as Group Financial Director.  After seventeen years  
with the group he retired while holding the position of Executive Deputy        
Chairman.  Since then he served as chairman of several public companies         
including Concor Ltd and as a non-executive director on several listed companies
including JD Group Ltd.                                                         
In accordance with the Companies Regulations, an independent Erbacon board has  
been appointed by the Erbacon Board comprising of Alan Dawson, Samara Totaram   
and Neill Davies ("the Independent Board").                                     
The Independent Board will review and consider the independent expert`s opinion 
and recommendations in regard to the Debt Restructure Plan for the benefit of   
Erbacon shareholders. The full details of the Debt Restructure Plan, the        
substance of the external advice and the opinion of the Independent Board       
relating to the Debt Restructure Plan will be detailed in a comprehensive       
circular to shareholders, which circular will be distributed in due course.     
16 May 2012                                                                     
Midrand                                                                         
Designated and Corporate adviser                                                
PSG Capital Proprietary Limited                                                 
Date: 16/05/2012 16:16:02 Supplied by www.sharenet.co.za                     
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