Chiawa Farm Estate

Zambeef (AIM: ZAM), the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana notes the recent media commentary in Zambia, which has included reporting of a confirmation by the government that the state-owned Industrial Development Corporation (IDC) Limited is considering a purchase and is currently undertaking due diligence. Zambeef wishes to advise its shareholders that a sale has not taken place with respect to its Chiawa Farm. In the event that a successful offer for the farm is received, Zambeef will follow due process in terms of notifying the market and obtaining any relevant shareholder approvals as applicable.