SUR SUR SUR - Spur Corporation - Acquisition of DoRego`s fast food restaurant chain - Voluntary announcement Spur Corporation Limited (Incorporated in the Republic of South Africa) (Registration number 1998/000828/06) Share code: SUR ISIN: ZAE000022653 ("Spur Corporation" or "the group") ACQUISITION OF DOREGO`S FAST FOOD RESTAURANT CHAIN Spur Corporation is pleased to announce that it has concluded agreements in terms of which it will acquire the fast food restaurant chain, DoRego`s, for R30 million (plus the value of inventory on the effective date) in cash ("the acquisition"). In terms of the acquisition, Spur Corporation will acquire the DoRego`s franchise company and the distribution centre operations (including inventory) located in Bloemfontein. DoRego`s is a value oriented take-away chain offering a combination of chicken, seafood and burgers to consumers. The chain has 75 outlets, with a strong presence in the Free State, Gauteng and Eastern Cape. Stores are mainly located in regional shopping centres and areas close to busy commuter transport hubs. Spur Corporation managing director, Pierre van Tonder, said: "The acquisition of DoRego`s will give Spur Corporation exposure to growth opportunities in the lower to middle income market, an area of significant expansion in the current quick service restaurant market place. DoRego`s has a strong brand with solid growth potential in South Africa. We plan to expand the business into a national chain by capitalising on the current brand awareness and extending the footprint into areas such as the Western Cape, KwaZulu-Natal and Mpumalanga." "There is no overlap with the existing brands in the Spur portfolio. Our expertise lies in managing franchise restaurant operations. We are planning a phased transition with the current owners to ensure we benefit from their expertise in operating quick service outlets and their knowledge of the brand and target market." The first DoRego`s store was opened in the 1970s and the present owners, Gerald and Cedric Brown, bought the franchise company in 2005. In six years the business has grown from 29 to 75 outlets, serving over 5.2 million customers annually. The effective date of the acquisition is expected to be 1 March 2012. The acquisition is smaller than a category 2 transaction for Spur Corporation in terms of the Listings Requirements of the JSE Limited. Cape Town 5 December 2011 Sponsor Sasfin Capital A division of Sasfin Bank Limited Date: 05/12/2011 12:00:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.