TIIH                                                                            
TBS - Tiger Brands Limited - Competition Commission announcement - Oceana       
Fishing Group Limited                                                           
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                                                              
COMPETITION COMMISSION ANNOUNCEMENT - OCEANA FISHING GROUP LIMITED              
We refer to the announcement issued today by the Competition Commission         
regarding a settlement reached between the Competition Commission and Oceana    
Group Limited.  Reference is made in that announcement to the shareholders'     
agreement between Tiger Brands and Brimstone Investments Corporation Limited    
in respect of Sea Harvest Corporation Limited ("Sea Harvest") that was          
signed in 2000 and which is no longer in place, as Tiger Brands sold its        
shareholding in Sea Harvest in 2009.                                            
Having taken legal advice, Tiger Brands is of the view that the shareholders    
agreement did not contravene any provision of the Competition Act.              
Tiger Brands has informed the Commission that, as it consistently has done      
in the past, it will constructively engage and co-operate with the              
Commission with a view to bringing this matter to a conclusion.                 
Bryanston                                                                       
Date: 9 May 2012                                                                
Sponsor                                                                         
J.P. Morgan Equities Limited                                                    
Date: 09/05/2012 15:15:03 Produced by the JSE SENS Department.                  
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