LONDON, May 18, 2011 /PRNewswire-FirstCall/ — Lonrho is pleased to
announce that it has entered into a heads of terms to acquire a 51% equity
interest in seafood wholesaler Fish On Line for ZAR 3.5 million (GBP0.3
million) in cash.

Fish On Line is based in Cape Town, South Africa, and operates bulk cold
storage and fish processing facilities. The company operates as a wholesaler
of quality seafood and imports and exports a wide range of seafood to and
from markets globally. Products handled by Fish On Line include: Prawns,
Salmon, Pangasius, Hake and Kingklip. Unaudited turnover for the year ended
28 February 2011 was ZAR 66 million (GBP5.8 million).

The parties expect to enter into a definitive share purchase agreement,
which will also include a formula for the acquisition of the remaining 49% of
the company, within the next few weeks. Following completion, Lonrho will
provide working capital for the company to expand its existing operations and
broaden its product range.

David Lenigas, Lonrho’s Executive Chairman, commented:

“The acquisition of Fish On Line strengthens Lonrho’s participation in
the seafood sector and delivers beneficial synergies with Lonrho’s
Oceanfresh, which is seeing a strong demand for its sustainably sourced, wild
caught fish range from retailers globally.”

    Enquiries:

    Lonrho Plc
    Geoffrey White, Chief Executive
    +44(0)20-7016-5105

    Pelham Bell Pottinger
    James MacFarlane
    +44(0)20-7861-3232

SOURCE Lonrho Plc