Cautionary Notice

MEIKLES LIMITED                                

                             NOTICE TO SHAREHOLDERS                             

Further to the Cautionary Notice published in the press on 22 October 2010, the
Company's Board wishes to advise shareholders that Pick `n Pay Retailers
(Proprietary) Limited ("Pick `n Pay"), the Company and its subsidiary TM
Supermarkets (Private) Limited ("TM") have entered into an agreement in terms
of which Pick `n Pay will increase its shareholding in TM to 49%.

Shareholders are further advised that such agreement is subject to certain
regulatory approvals.

Shareholders will be advised on the progress in obtaining such approval.

COMPANY SECRETARY

MEIKLES LIMITED

5 November 2010