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Meikles Africa Ld (MIK)

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Monday 01 October, 2007

Meikles Africa Ld

Scheme of arrangement

Meikles Africa Ld
01 October 2007

                              CAUTIONARY STATEMENT







Following previous statements published on the proposed scheme of arrangement,
shareholders are hereby updated on the current status of negotiations. The
Boards of Meikles Africa Limited (Meikles Africa), Kingdom Financial Holdings
Limited (Kingdom), Tanganda Tea Company Limited (Tanganda) and Cotton Printers
(Private) Limited have agreed the share exchange ratios between Meikles Africa
and Kingdom and between Meikles Africa and Tanganda and that the effective date
of the transaction is 30 July 2007.Shareholders are also advised that the
salient terms of  Kingdom and Tanganda schemes of arrangement  which contains
such ratios and the dates of the scheme meetings will shortly be published in
the press and scheme documents will also then be sent to shareholders of
Tanganda and Kingdom. On the same day that the Tanganda and Kingdom scheme
meetings will be held, Meikles Africa will hold an extraordinary general meeting
and the salient terms of such meeting will be notified to shareholders on the
same date and in the same manner as shareholders of Kingdom and Tanganda are
notified of their respective scheme meetings and schemes of arrangement.



Additionally, shareholders are advised that shareholders representing 86% of the
shares in Kingdom, 55% of the shares in Meikles Africa and 58% of the shares in
Tanganda have given irrevocable undertakings to support the proposed
transaction. Following the conclusion of the transaction, the new Kingdom
Meikles Africa Limited Group will be in compliance with the proposed
Indigenisation legislation.







BY ORDER OF THE BOARDS






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