Result of Tender Offer

26 October 2012

PME African Infrastructure Opportunities plc

("PME" or "the Company")

(AIM: PMEA.L)

Results of the Initial Tender Offer

Further to the announcement of the result of the Annual General Meeting on 19 October 2012, the Board of PME African Infrastructure Opportunities plc (the "Company") announces that the initial tender offer for the purchase of up to 43,123,426 Ordinary Shares (representing 30% of the Ordinary Shares outstanding at the record date) at US$0.30 per Ordinary Share (the "Initial Tender Offer") closed at 1.00 p.m. on Thursday, 25 October 2012.

A total of 41,283,992 Ordinary Shares, comprising 28.72 per cent. of the Ordinary Shares outstanding, were validly tendered, and accordingly, all valid tender applications will be satisfied in full. It is expected that both the CREST settlement of the Initial Tender Offer and the despatch of cheques in respect of certificated holdings, will take place on 31 October 2012.

As set out in the Initial Tender Offer document, the 41,283,992 Ordinary Shares validly tendered will be cancelled. Therefore, with effect from 31 October 2012 the total number of voting rights in the Company will be 102,460,760. The voting rights on all these shares are identical. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, following 31 October 2012.

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