TIGER BRANDS LIMITED
"Tiger Brands", or "the Company"
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080

Shareholders are referred to a report that appeared on Bloomberg this morning, in which the Deputy Competition Commissioner was quoted as saying that the Competition Commission has probed South Africa’s Grain Millers in relation to market allocation and price fixing and that its findings will be referred to the Competition Tribunal. The announcement referred to Tiger Brands as being one of the “targets” of this investigation.

Tiger Brands has been informed by the Competition Commission that its complaint referral has not yet been made to the Competition Tribunal.

Tiger Brands entered into an agreement with the Competition Commission in November 2007 in terms of which Tiger Brands was granted conditional immunity from prosecution before the Competition Tribunal for its involvement in cartel activities in the milling industry within South Africa, subject to certain conditions. In the event that the Competition Commission does refer its milling investigation to the Competition Tribunal for determination with Tiger Brands cited as a co-respondent, no relief is expected to be sought against Tiger Brands.

The Competition Commission has undertaken to provide to Tiger Brands a copy of the complaint referral as soon as it has been referred to the Competition Tribunal.

Date: 09 March 2010

Sponsor:
JP Morgan Equities Limited