Replacement - Loan Agreement

Kimberly Enterprises N.V.

('Kimberly' or 'the Company')

Replacement Announcement for Loan Agreement

The following amendment has been made to the 'Loan Agreement' announcement released on 28 November 2012 at 4:48pm under RNS No 2573S.

The amount ERD has provided to Kimberly is an additional €0.2 million, not €2.0 million as stated in the original announcement.

All other details remain unchanged.

The full amended text is shown below.

Kimberly Enterprises N.V.

('Kimberly' or 'the Company')

Loan Agreement

Further to the announcement made on 8 November 2012, the Board of Kimberly, the AIM-quoted Eastern European residential property developer (KBE.L), is continuing its negotiations with Engel Resources & Development Limited ("ERD") to repay the sums it owes to ERD, which will be financed by new loans from third parties.

Since the beginning of the year it has continued to receive approximately €0.9 million in short term funding from ERD, and ERD has agreed to provide additional funding totaling €0.2 million. Kimberly announces that it has now agreed with ERD that it will pledge the future proceeds generated from its Canadian projections as security for the loans drawn down since the beginning of the year to date and any future loans from ERD. The total amount pledged to ERD will be twice the total amount of such loans.

As ERD controls the Company's immediate parent company, Engel General Developers Limited, this new loan agreement is considered to be a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The Company's Directors consider, having consulted with the Company's nominated adviser, Libertas Capital Corporate Finance Limited, that the terms of the new loans with ERD are fair and reasonable insofar as the Company's shareholders are concerned.

A further announcement on this refinancing will be made in due course.

ENDS

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