Settlement of Disputes with Former Manager

South African Properties Plc

Settlement of Disputes with Former Manager

South African Property Opportunities Plc (SAPRO) has settled all disputes with its former manager and administrator by paying the former manager £5.78 million and exchanging mutual releases. This amount was fully provided for in the Company's most recent published accounts dated 31 December 2010, and payment will therefore have no further effect on net asset value.

For further information, please contact:

Paul Fincham

Matrix Corporate Capital LLP

+44 (0)20 3206 7175