ELI
ELI                                                                             
ELI - Ellies Holdings Limited - Further Update On The Rights Offer              
Ellies Holdings Limited                                                         
Registration No. 2007/007084/06                                                 
Share code: ELI    ISIN code:  ZAE000103081                                     
("Ellies" or "the company")                                                     
FURTHER UPDATE ON THE RIGHTS OFFER                                              
Shareholders are advised that all conditions precedent to the rights offer      
announced on 25 February 2010 ("the announcement") have been fulfilled.         
As set out in the announcement the rights offer is being undertaken to raise    
R100 million, R64 968 273 of which will be used to discharge amounts due to     
the vendor of the business conducted by Megatron Federal (Proprietary)          
Limited, in terms of the acquisition agreement entered into on 30 November      
2007. The balance of the amount raised will be used by the company to fund      
the company`s current expansion programs, including the Digital Terrestrial     
migration, expansion into domestic appliances, growth of electrical ranges,     
and satellite-related business expected in 2010.                                
The rights offer will be implemented in accordance with the timetable           
detailed in the announcement.                                                   
11 March 2010                                                                   
Corporate advisor, legal advisor and designated advisor                         
Java Capital (Proprietary) Limited                                              
Date: 11/03/2010 17:05:02 Produced by the JSE SENS Department.                  
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