GEN - General - Country Bird Holdings Proprietary Limited -Challenge to The Competition Commission approval Country Bird Holdings Proprietary Limited Incorporated in the Republic of South Africa (Registration number 2005/008505/07) (“CBH”) CHALLENGE TO THE COMPETITION COMMISSION APPROVAL Sovereign Food Investments Limited (“Sovereign”) shareholders (“Shareholders”) are referred to the announcement released by CBH on SENS on 16 November 2016 regarding the conditional approval of the merger between CBH and Sovereign by the Competition Commission (“Comp Comm Approval”). On 29 November 2016, Sovereign filed a review application, alternatively a request for consideration, in respect of the Comp Comm Approval (“Sovereign Application”). Shareholders are notified that: * the board of directors of Sovereign (“Sovereign Board”) failed to engage with CBH in respect of any concerns they may have pertaining to the Comp Comm Approval prior to the Sovereign Application being launched; * despite numerous prior invitations, the Sovereign Board has persistently refused to engage with Sovereign’s largest shareholder, CBH; and * Sovereign, without engaging with its Shareholders, are incurring further significant legal costs in terms of the Sovereign Application, which are eroding Sovereign’s finances and destroying shareholder value when Sovereign is trading at a loss. Sovereign has elected not to draw Shareholders attention to the Sovereign Application. CBH is surprised by Sovereign’s election not to disclose this to Shareholders in the same way that the challenge of CBH’s waiver of the suspensive condition related to acceptances was disclosed. CBH is firmly of the opinion that the Sovereign Application has no prospect of success and the actions of the Sovereign Board are incongruent with the objectives of its Shareholders. Johannesburg 6 December 2016 Financial advisor: Investec Bank Limited Legal advisor: Kern & Partners Competition law advisor: Bowman Gilfillan Date: 06/12/2016 05:00:00 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.