Potential Change of Controlling Shareholder

Kimberly Enterprises N.V.

("Kimberly" or the "Company")

Change of Controlling Shareholder

Further to the announcement made on 1 October 2015, the Board of Kimberly, the AIM-quoted Eastern European residential property developer (KBE.L), has been notified that the completion of the transfer 2.87 million ordinary shares in Engel Resources and Development Limited ("ERD") held by GBES Limited (through advocates Yuri Nechushtan and Eyal Neiger as receivers) (the "Shares") to Gabay Group Ltd. (represented by Gabay Europe Ltd.) has been postponed to 4 November 2015. If by that date the conditions precedent are not satisfied in full, the said transaction shall automatically expire and be terminated. The Shares represent 53% of the voting rights and issued share capital of ERD. ERD controls Engel General Developers Limited, which holds 68.35% of the issued share capital of Kimberly.

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