Sale of Emberton

South African Property Opportunities PLC

Sale of Emberton at Premium to Book

The Board of South African Property Opportunities PLC ("the Company") is pleased to announce that the Company has entered into an unconditional agreement to sell the Emberton residential property company for a total consideration of ZAR 50m. The ZAR 50m sale price is 17% higher than the Company's carrying value as at 31 December 2012. Half of the consideration will be paid by 13 May 2013 with the remainder due no later than twelve months subsequent to that date. The unpaid balance will bear interest at 1% over the South African prime lending rate, which is currently 9.5 per cent. This unpaid balance is secured by a mortgage bond over the property and a pledge and cession of the property company's shares. The Company owns the Emberton asset in its entirety and will receive all of the proceeds of the sale.

The previously announced sales of Sandton, Gosforth Park and Longland are progressing as planned with the Sandton transaction having obtained Competition Commission approval earlier this month. The Company expects that once the proceeds from these transactions are received, it will be able to announce a distribution of all excess cash. Further details regarding these matters will be provided in the Company's interim accounts, which will be published by the end of this month.

For further information please contact

Paul Fincham +44 (0) 20 7886 2713

Robert Naylor +44 (0) 20 7886 2714

Panmure Gordon