FULFILMENT OF THE CONDITIONS PRECEDENT AND A FURTHER CAUTIONARY ANNOUNCEMENT. IFA Hotels & Resorts Limited Registration number 1919/001318/06 Share code: IFH ISIN: ZAE000075669 ("IFA" or "the Company) FULFILMENT OF THE CONDITIONS PRECEDENT AND A FURTHER CAUTIONARY ANNOUNCEMENT. 1. Introduction IFA shareholders are referred to the announcement released on SENS on 8 August 2012 (“the Announcement”) regarding extension of timeline for the fulfilment of the conditions precedent relating to the Disposal by IFA Boschendal Investments (Pty) Limited (“IFA Boschendal”) in terms of which Canombys Limited (“Canombys”) will acquire, as one indivisible transaction, all of IFA Boschendal’s shares and claims in Boschendal(“the Transaction”) from IFA Boschendal. 2. Conditions Precedent Shareholders are hereby advised that the last outstanding condition precedent yet to be met is the obtaining of exchange control approval. The parties have agreed that the fulfilment date of this condition precedent be extended to 16:00 on Friday, 24 August 2012. 3. Further cautionary announcement IFA Shareholders are advised that the cautionary announcement contained in the Announcement is hereby extended and shareholders are therefore advised to continue to exercise caution when dealing in the Company’s securities until a further announcement is made. Zimbali 17 August 2012 Sponsor: Sasfin Capital (a division of Sasfin Bank Limited) Legal Advisor: Larson Falconer Incorporated Corporate Advisor: DEA-RU (Pty) Ltd Date: 17/08/2012 05:19:00 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.