The Directors of AICO Africa Limited would like to advise Shareholders of the Company, that further to the Cautionary Statement dated 20 December 2011, the Directors are still engaged in negotiations for a potential transaction, which if successful, could have a material impact on the price of the Company's shares.
Accordingly, Shareholders are advised to exercise caution when dealing in the company's shares until a full announcement is made.
By Order of the Board

P. Manamike Company Secretary 12 January 2012

Registered Office: 1st Floor, SAZ Building 1 Northend Close, Northridge Park Box BW537, Borrowdale Harare, Zimbabwe