Successful Value Added Tax Recovery

Noventa Limited

("Noventa" or the "Company")

Successful Value Added Tax Recovery

17 August 2010

Noventa is pleased to announce that it now expects to recover value added tax ("VAT") refunds amounting to MZN 34 million (approximately $895,000), previously considered to be uncollectible due to lack of documentation.

As a result of an extensive exercise to locate invoices and export certificates lost by Noventa's previous management, and lengthy discussions and negotiations with the Mozambique's tax authorities, the basis of the Company's claims for recovery have now been accepted in full. An initial instalment of MZN 5,000,000 ($131,579) was received on 13 August and further instalments are expected later this month and in September. The Company hopes to collect the entire MZN 34 million ($895,000) before the end of 2010.

This exercise involved the negotiated reissue of around 450 missing or incorrect invoices from a number of suppliers and locating 15 Documentos Únicos (an official certificate of export) in three different districts. This work was performed solely by Noventa's employees.

Eric Kohn TD, Chairman stated "This significant breakthrough justifies many aspects of the new Board's strategy, including: moving our operational headquarters from South Africa to Maputo, our emphasis on employing predominantly Portuguese-speaking management and Mozambique citizens, a focus on improved relations with the government of Mozambique and its tax authorities and the efficacy of the rule of law and Government in Mozambique".

For further information please contact:

Eric F. Kohn TD

Chairman

Noventa Limited

+41 22 8500560

+41 79 5030150

www.noventa.net

Nick Harriss/Emily Staples

Religare Capital Markets (Nomad)

+44 20 7444 0800

Daniel Briggs Religare Capital Markets (Broker) +44 20 7444 0500