AVI - AVI Limited - Change to the Board of directors ("the Board")

AVI - AVI Limited - Change to the Board of directors ("the Board")              
AVI Limited                                                                     
(Incorporated in South Africa)                                                  
(Registration number: 1944/017201/06)                                           
ISIN Code: ZAE000049433                                                         
JSE Code: AVI                                                                   
("AVI" or "the Group" or "the Company" )                                        
Change to the Board of directors ("the Board")                                  
Shareholders in AVI are advised that Mr Angus Band, the independent non-        
executive chairman of the Board, has indicated that he will retire from his     
position at the Company`s next annual general meeting which is scheduled for    
Friday, 2nd November 2012.                                                      
In order to ensure an orderly transition it has been decided by the Board that, 
with effect from 1 July 2012, Mr Gavin Tipper, currently an independent non-    
executive director, will be appointed as the  chairman. Mr Band will remain on  
the Board until the 2nd November 2012.                                          
Mr Tipper completed his articles with KPMG in 1987. He went on to hold the      
position of Technical Partner at the firm before joining Coronation Holdings Ltd
in 2001 as Chief Operating Officer which position he also held in its successor 
company Coronation Investments and Trading Ltd. Gavin was appointed to the AVI  
Board during March 2007 where he also serves as a member of the audit committee 
and Chairman of the remuneration committee. He also serves on a number of other 
boards                                                                          
Mr Band joined the Board in 1997 as an executive director and was appointed     
Chief Executive Officer of National Brands Limited in 1998. He became AVI`s     
Group Chief Executive Officer in 1999 and served in this role until 2005, when  
he stepped down and moved into the role of non-executive Chairman. The Board    
wishes to express its sincere gratitude to Mr Band for his outstanding 16 years 
of service to AVI and vital contribution to AVI`s success.                      
15 June 2012                                                                    
Illovo, Johannesburg                                                            
Sponsor: The Standard Bank of South Africa Limited                              
For enquiries: Simon Crutchley (011) 502-1322; Owen Cressey (011) 502-1323      
Date: 15/06/2012 15:40:01 Supplied by www.sharenet.co.za                     
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