Fijian Holdings Limited (FHL) has today announced that it will make a partial takeover offer to existing RB Patel Group Limited shareholders, through its wholly-owned subsidiary, FHL Retailing Limited. The terms and conditions of the offer will be today sent to all the current shareholders through the office of the Chairman of RB Patel Group Limited and will be copied to the South Pacific Stock Exchange and Capital Markets Development Authority as per the requirements of the Capital Markets Development Act 1996 and the South Pacific Stock Exchange listing rules.

RB Patel Group Limited is a well-established and well-managed supermarket chain in Fiji with the added bonus of already being listed on the South Pacific Stock Exchange.

FHL Group Managing Director Mr. Sitiveni Weleilakeba said that the offer was made after an extensive review of FHL current investment portfolio. This review highlighted the need to diversify FHL's current investment portfolio and the importance of investing in resilient sectors that are not negatively affected by the volatility in the economy.

"Whilst FHL is mindful that there are several large and well managed supermarket operators in Fiji as well as the competitive nature of the retail industry, we believe that there are both revenue and cost synergies that will be realized from the acquisition", said Mr Weleilakeba.

FHL is taking a long-term position in making this investment.  "Yes, the economy is weak, but the resilience in the retail sector and the goodwill in our people gives us confidence for the future", Mr Weleilakeba said.

The takeover will be made under the approved process of the Capital Markets Development Authority and the South Pacific Stock Exchange.

End

Sitiveni Weleilakeba
FHL Group Managing Director
27th March 2008

For more information refer to the Takeover Notice.