**SALE      OF SHARES AGREEMENT**

**CHICORY      INVESTMENTS (PROPRIETARY) LIMITED**

**DYNAMO      INVESTMENTS LIMITED**

**HARVEST      MOON INVESTMENT HOLDINGS (PROPRIETARY) LIMITED**

**IZULU      GAMING (PROPRIETARY) LIMITED**

**KHULANI      HOLDINGS LIMITED**

**LIBALELE      LEISURE (PROPRIETARY) LIMITED**

**MALESELA      GAMING (PROPRIETARY) LIMITED**

**OAKLAND LEISURE INVESTMENTS (NEWCASTLE)      (PROPRIETARY) LIMITED**

**PURPLE      RAIN PROPERTIES NO 62 (PROPRIETARY) LIMITED**

**RUVUMA      INVESTMENT (PROPRIETARY) LIMITED**

**SAPHILA      INVESTMENTS (PROPRIETARY) LIMITED**

----

**VIVA      LEISURE INVESTMENT HOLDINGS (PROPRIETARY) LIMITED**

**THE      VIVA TRUST**

**CENTURY      CASINOS AFRICA (PROPRIETARY) LIMITED**

| 1.   | DEFINITIONS                AND INTERPRETATION |
|----------------|-----------------------------------------------|

| 1.1.   | In                this Agreement, unless clearly inconsistent with or otherwise indicated                by                the context - |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.1.   | “the                / this Agreement” means the agreement set out in this document and the                appendices (if any) hereto; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.2.   | “Business                Day” means any day other than a Saturday, Sunday or statutory public                holiday in the Republic of South                Africa; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.3.   | “the                BEE Act” means the Broad-Based Black Economic Empowerment Act, No. 53 of                2003; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------|

| 1.1.4.   | “the                Closing Date” means the date upon which all conditions upon which the                closing of the sale of the Sold Shares is dependant, are either fulfilled                or, to the extent that such conditions may be waived, are waived,                or such                later or other date as may be agreed in writing between the                Parties; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.5.   | “the                Company” means Balele Leisure (Proprietary) Limited, Registration No.                1998/002723/07, a private company duly registered and incorporated                with                limited liability in accordance with the company laws of the Republic                of                South Africa; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.6.   | “the                Companies Act” means the Companies Act, No. 61 of 1973, as                amended; |
|--------------------|--------------------------------------------------------------------------------------------------------------------|

----

| 1.1.7.   | “the                Competition Act” means the Competition Act, No. 89 of                1998; |
|--------------------|------------------------------------------------------------------------------------------------------------|

| 1.1.8.   | “the                Closing Date Financial Statements” means the financial statements of the                Company for the period from 1 March 2005 to the Closing Date which                the                Sellers shall be required to deliver to the Purchaser in accordance                with                the provisions of clause 10.1                hereof; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.9.   | “Erf                6350 Newcastle” means Erf 6350 Newcastle (Extension No. 34), registration                division HS in the Newcastle Transitional Local Council Area, Province                of                Kwazulu Natal, measuring 28,9284 hectares, held by the Company under                deed                of transfer no. T1149/99; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   1.1.10.  | “the                Existing Shareholders’ Agreement” means the shareholders’ agreement                entered into between the members of the Company prior to the Signature                Date and effective as between the members of the Company as at the                Signature Date; |
|---------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.11.  | “the                2005 Financial Statements” means the audited annual financial statements                of the Company for the financial year of the Company which ended                on 28                February 2005 as approved by the directors of the                Company; |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.12.  | “the                Income Tax Act” means the Income Tax Act, No. 58 of                1962; |
|---------------|----------------------------------------------------------------------------------------------------------|

| 1.1.13.  | “Newcastle”                means Newcastle Hotel and Property Development (Proprietary) Limited,                Registration No. 2001/000346/07, a private company duly registered                and                incorporated with limited liability in accordance with the company                laws of                the Republic of South Africa; |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.14.  | “the                New Shareholders’ Agreement” means the agreement referred to in clause                6.2.2                hereof to be signed between the members of the                Company; |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.15.  | “the                Parties” means the Purchaser and the Sellers collectively and “Party”                shall mean either the Purchaser or, collectively, the Sellers, as                the                context may indicate or require; |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 1.1.16.  | “the                Permanent Casino” means the new casino which the Company plans to                construct as soon as reasonably possible in the future on the land                more                fully described as “the proposed subdivision of Erf 15450 Newcastle which                is in the process of being subdivided and which shall be in extent                +- 25                (twenty-five) hectare” which Newcastle is in the process of acquiring from                the Newcastle Municipality and which will thereafter be acquired                by the                Company from Newcastle as provided in clause 6.2.8                hereof; |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.17.  | “Polo                Grill” means Polo Grill Casino Limited, a company incorporated in Zambia                with registration number 51418 of which Winlen owns 25% (twenty-five                percent) of the issued share capital; |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.18.  | “the                Purchaser” means Century Casinos Africa (Proprietary) Limited,                Registration No. 1996/010501/07, a private company duly registered                and                incorporated with limited liability in accordance with the company                laws of                the Republic of South Africa; |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.19.  | “the                Purchaser’s Attorneys” means Bowman Gilfillan Attorneys, of SA Reserve                Bank Building, 60 St George’s Mall, Cape Town,                8001; |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.20.  | “the                Purchase Price” means the purchase price referred to in clause                3                hereof; |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.21.  | “the                Sellers” means Chicory Investments (Proprietary) Limited, Registration No.                1985/000896/07, Dynamo Investments Limited, Registration No.                1995/004006/06, Harvest Moon Investment Holdings (Proprietary) Limited,                Registration No. 1998/010314/07, Izulu Gaming (Proprietary) Limited,                Registration No. 1998/008061/07, Khulani Holdings Limited, Registration                No. 1979/006828/06, Libalele Leisure (Proprietary) Limited, Registration                No. 1998/011953/07, Malesela Gaming (Proprietary) Limited, Registration                No. 1998/018625/07, Oakland Leisure Investments (Newcastle) (Proprietary)                Limited, Registration No. 1997/009965/07, Purple Rain Properties                No 62                (Proprietary) Limited, Registration No. 1997/020100/07, Ruvuma Investment                (Proprietary) Limited, Registration No. 1997/016346/07, Saphila                Investments (Proprietary) Limited,, Registration No. 1998/011294/07,                ,                Viva Leisure Investment Holdings (Proprietary) Limited, Registration                No.                1997/015979/07, and The Viva Trust No. IT                954/1991; |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 1.1.22.  | “the                Sellers’ Attorneys” means Franke & Associates, 16 Old Main Road,                Gillitts, 3603; |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.23.  | “the                Signature Date” means the date on which the Party which signs this                Agreement last in time, so signs; |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.  | “the                Sold Shares” means: |
|---------------|-----------------------------------------------------|

| 1.1.24.1.   | 763                ordinary R1,00 (one rand) par value shares in the Company owned by                Chicory                Investments (Proprietary) Limited; |
|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.2.   | 3,824                ordinary R1,00 (one rand) par value shares in the Company owned by                Dynamo                Investments Limited; |
|-----------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.3.   | 1,057                ordinary R1,00 (one rand) par value shares in the Company owned by                Harvest                Moon Investment Holdings (Proprietary)                Limited; |
|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.4.   | 6,949                ordinary R1,00 (one rand) par value shares in the Company owned by                Izulu                Gaming (Proprietary) Limited; |
|-----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.5.   | 5,903                ordinary R1,00 (one rand) par value shares in the Company owned by                Khulani                Holdings Limited; |
|-----------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.6.   | 760                ordinary R1,00 (one rand) par value shares in the Company owned by                Libalele Leisure (Proprietary)                Limited; |
|-----------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.7.   | 540                ordinary R1,00 (one rand) par value shares in the Company owned by                Malesela Gaming (Proprietary)                Limited; |
|-----------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.8.   | 1,436                ordinary R1,00 (one rand) par value shares in the Company owned by                Oakland                Leisure (Newcastle) (Proprietary)                Limited; |
|-----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.9.   | 764                ordinary R1,00 (one rand) par value shares in the Company owned by                Purple                Rain Properties No 62 (Proprietary)                Limited; |
|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                   1.1.24.10.   | 413                ordinary R1,00 (one rand) par value shares in the Company owned by                Ruvuma                Investment (Proprietary) Limited; |
|---------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  1.1.24.11.   | 3,928                ordinary R1,00 (one rand) par value shares in the Company owned by                Saphila                Investments (Proprietary) Limited; |
|------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.12.   | 6,080                ordinary R1,00 (one rand) par value shares in the Company owned by                Viva                Leisure Investment Holdings (Proprietary)                Limited; |
|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.1.24.13.   | 1,571                ordinary R1,00 (one rand) par value shares in the Company owned by                The                Viva Trust, |
|------------------------|---------------------------------------------------------------------------------------------------------------------------------------|

|                1.1.25.  | “the                Temporary Casino” means the casino situated at Erf 6350 Newcastle from                which the Company has conducted the business of a casino operator                in the                past; |
|-----------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                1.1.26.  | “the                VAT Act” means the Value-Added Tax Act, No. 89 of                1991; |
|-----------------------------------|--------------------------------------------------------------------------------------------------------|

| 1.1.27.  | “Winlen”                means Winlen Casino Operators (Proprietary) Limited, Registration                No.                2000/029023/07, a private company duly registered and incorporated                with                limited liability in accordance with the company laws of the Republic                of                South Africa. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.2.   | In                this Agreement, unless clearly inconsistent with or otherwise indicated                by                the context: |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------|

| 1.2.1.   | any                reference to any act of Parliament or other statutory provision shall                be                deemed to mean a reference to such provision inclusive of any                modification, extension, substitution or re-enactment thereof, in                which                event the relevant provisions of this Agreement affected by such                modification, extension, substitution or re-enactment, shall be deemed                to                have been amended, *mutatis                mutandis*; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.2.2.   | any                reference to the singular includes the plural and *vice                versa*; |
|--------------------|---------------------------------------------------------------------------------------------------|

----

| 1.2.3.   | any                reference to natural persons includes legal persons and *vice                versa*;                and |
|--------------------|----------------------------------------------------------------------------------------------------------------------------|

| 1.2.4.   | any                reference to a gender includes the other                genders. |
|--------------------|-------------------------------------------------------------------------------------|

| 1.3.   | The                use of the word “including” followed by a specific example or examples                shall not be construed or interpreted as limiting the meaning of                the                general wording preceding it and the *eiusdem                generis*rule                shall not be applied in the interpretation of such general wording                and/or                such specific example or examples. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.4.   | The                clause headings in this Agreement have been inserted for convenience                only                and shall not be taken into account in the interpretation of this                Agreement. |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.5.   | All                appendices (if any), schedules or like documents attached to this                Agreement shall form part, or be deemed to form part, of this Agreement,                for all purposes *mutatis                mutandis*                as                if incorporated into the body of this                Agreement. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.6.   | This                Agreement shall be governed by and construed and interpreted in accordance                with the law of the Republic of South                Africa. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | SALE |
|----------------|------|

| 3.   | THE                PURCHASE PRICE |
|----------------|-----------------------------------|

----

| 4.   |  PAYMENT |
|----------------|---------------|

| 4.1.   | on                the Closing Date and against fulfillment by the Sellers of the Sellers’                obligations in terms of clause 5                hereof, of the sum of R40 500 000.00 (forty million five hundred                thousand rand); |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2.   | on                the first day of the eighteenth month immediately succeeding the                due date                for payment of the sum of R40 500 000.00 (forty million five                hundred thousand rand) in accordance with the provisions of clause                4.1                hereof                of                the sum of R17 000 000.00 (seventeen million rand) less any                amount payable by the Sellers to the Purchaser by reason of the Sellers                breaching any warranties, undertakings and representations of the                Sellers                and in particular paragraph 60                of                annexure “A”                provided that until such time as the dispute with SARS referred to                in                paragraph 33                of                Annexure “A” has been resolved, the Purchaser shall be entitled to                withhold payment from the amount payable in terms of clause 4.2                hereof, of an amount equal to the amount in dispute and, when the                dispute                is finally resolved, of an amount equal to the amount (if any) found                to be                payable by the Company to SARS thereby reducing the purchase price                as                provided in clause 3                hereof; |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.3.   | if                the gross gaming revenue of the Permanent Casino exceeds                R95 000 000.00 (ninety-five million rand) in the first 12                (twelve) months following the date of commencement of trading operations                of the Permanent Casino, thereby increasing the purchase price payable                for                the Sold Shares by an amount of R2 500 000.00 (two million five                hundred thousand rand) as provided in clause 3                hereof, of the sum of R2 500 000.00 (two million five hundred thousand                rand) as soon as it is determined from the monthly management accounts                of                the Company that the gross gaming revenue of the Company in the first                12                (twelve) months of operation of the Permanent Casino exceededR95 000                000.00 (ninety-five million rand).  |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 5.   | DELIVERY |
|----------------|----------|

| 5.1.   | the                share certificates in respect of the Sold Shares with share transfer                forms                relating thereto duly signed by the Sellers as transferor, currently                dated, and reflecting the Purchaser as the                transferee; |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2.   | the                actual or a certified true copy of a resolution passed by the directors                of                the Company: |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2.1.   | approving                the transfer of the Sold Shares to the                Purchaser; |
|--------------------|-------------------------------------------------------------------------------------------|

| 5.2.2.   | appointing                the nominees of the Purchaser as directors of the                Company; |
|--------------------|-----------------------------------------------------------------------------------------------------|

| 5.3.   | should                the sale to the Purchaser of the Shares in the Company sold to the                Purchaser in terms of this Agreement constitute the whole or the                greater                part of the assets of one of the Sellers, the actual or a certified                true                copy of a resolution passed by the members of that Seller at a general                meeting approving the sale of the relevant Shares in Balele as required                in                terms of section 228 of the Companies                Act; |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.4.   | the                written and signed resignation of such number of the directors of                the                Company appointed prior to the Closing Date as exceeds the number                of                directors of the Company which the Sellers are entitled to appoint                in                accordance with the terms of this Agreement and the New Shareholders’                Agreement. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.   | CONDITIONS                PRECEDENT |
|----------------|-------------------------------------|

| 6.1.   | This                Agreement, save for the provisions of clauses 1,                8,                16,20,                21                and 22,                which shall be of immediate force and effect and remain binding on the                Parties, shall be subject to and conditional upon fulfillment of                the                conditions precedent referred to in clauses 6.2                and 6.3                by                the dates therein set forth and of all conditions precedent by not                later                than 1 April 2006, provided that all such dates may be extended to                such                later dates as the Parties may agree in                writing. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2.   | Simultaneously                with signature of this agreement, but in any event not later than                the                Closing Date: |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 6.2.1.   | the                transfer to Winlen of beneficial ownership of all the issued shares                in the                Company not purchased by the Purchaser and the recordal in the share                register of the Company of Winlen as the registered owner of such                shares                representing approximately, but not more than, 40% (forty percent)                of the                issued share capital of the                Company; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2.2.   | signature                of the New Shareholders’ Agreement by the Purchaser and Winlen after the                sale of the Sold Shares to the Purchaser as contemplated in this                Agreement                and the transfer to Winlen as contemplated in 6.2.1                of                all issued shares in the Company not purchased by the                Purchaser; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2.3.   | the                cancellation, without payment of any consideration or damages as                compensation for such cancellation of the existing management agreement                between the Company and Winlen and the conclusion between the Company                and                the Purchaser, or any nominee of the Purchaser which is a subsidiary                of                Century Casinos Inc, of a management agreement providing for the                appointment of such nominee of Century Casinos Inc to manage with                effect                from the Closing Date the business operations of the Company for                a                management fee payable monthly of 3.75% (three comma seven five percent)                of the total gross revenues (excluding VAT and other taxes) of the                Company, plus 7.5% (seven comma five percent) of the earnings of                the                Company before interest, taxation, depreciation and amortization,                and for                such management agreement to remain in force indefinitely while the                Purchaser owns shares in the Company and to be subject to notice                of                termination by the manager, at the manager’s sole discretion, on not less                than 6 (six) months written notice; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2.4.   | the                conclusion between the Company and Mr Vathasallum Reddy of an agreement                on                terms acceptable to them and the Purchaser appointing Mr Vathasallum                Reddy as a development consultant for the construction of the Permanent                Casino; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2.5.   | the                conclusion between the Company and the Purchaser of a development                management agreement on terms acceptable to them appointing the Purchaser                as development manager for the construction of the Permanent                Casino; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 6.2.6.   | the                conclusion between the Company and Winlen, of an agreement                providing: |
|--------------------|---------------------------------------------------------------------------------------------------------|

| 6.2.6.1.   | for                payment by the Company to Winlen monthly of a fee equal to 1.25%                (one                comma two five percent) of the total revenues of the Company plus                2.5%                (two comma five percent) of the earnings of the Company before interest,                taxation, depreciation and amortization for assisting the manager                appointed in terms of clause 6.2.3                hereof in the management of the business operations of the Company; |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2.6.2.   | for                such agreement to remain in force indefinitely while Winlen owns                shares in                the Company, provided that should the black empowerment status of                Winlen                at any time after the Signature Date reduce below the level as at                the                Signature Date, the agreement shall immediately and automatically                terminate.; |
|----------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2.6.3.   | that                should the percentage of the issued shares of the Company owned by                Winlen                reduce below 40% (forty percent), the fees respectively of 1.25%                (one                comma two five percent) and 2.5% (two comma five percent) shall be                reduced                pro rata by multiplying the amount of the fees representing 1.25%                (one                comma two five percent) and 2.5% (two comma five percent) by the                fraction                x/100                where                “x” equals the percentage of the total issued shares of the Company owned                by Winlen. |
|----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2.7.   | the                Company divesting itself of the Company’s interest in Winlen and Polo                Grill;  |
|--------------------|----------------------------------------------------------------------------------------------------------------------------|

| 6.2.8.   | the                conclusion between Newcastle and the Company of an agreement of sale                for                the sale by Newcastle to the Company for the sum of R375 000.00 (three                hundred and seventy-five thousand rand) of the land described in                clause                1.1.16                hereof providing for transfer of the said land to be effected into                the                name of the Company as soon as reasonably possible.** ** |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 6.3.   | By                not later than 2 (two) weeks after signature of this Agreement on                behalf                of the Purchaser the approval of this Agreement and the New Shareholders’                Agreement by the board of directors of the Purchaser. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.4.   | The                approval by the Purchaser of the development plans and specifications                and                budget for the layout and construction of the Permanent Casino. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.5.   | The                approval of all elements of this Agreement by all relevant regulatory                or                other competent authorities including (but not limited to) the SA                Reserve                Bank, the KwaZulu-Natal Gambling Board and the Liquor Board having                jurisdiction over the Company’s casino operations and liquor licences,                local, provincial and municipal authorities or any other                authorities. |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.6.   | It                is recorded: |
|------------------|--------------------------------|

| 6.6.1.   | that                the requirement that the conditions referred                to: |
|--------------------|-------------------------------------------------------------------------------------|

| 6.6.1.1.   | in                clauses 6.2.2,                6.2.8                and 6.5                hereof be fulfilled is for the benefit of both the Purchaser and                the                Sellers and shall not be capable of waiver by either or both of the                Purchaser and the Sellers; |
|----------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.6.1.2.   | in                clauses 6.2.1,                6.2.3,                6.2.5,                6.2.7,                6.3                and 6.4                hereof be fulfilled is for the benefit of the Purchaser and may be                waived                in writing by the Purchaser; |
|----------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.6.1.3.   | in                clauses 6.2.4                and 6.2.6                hereof be fulfilled is for the benefit of the Sellers and may be                waived in                writing by the Sellers. |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.6.2.   | that                the Purchaser and the Sellers are of the opinion that the sale of                the Sold                Shares by the Sellers to the Purchaser does not qualify as a transaction                which requires notification to the Competition Commission and that                it is                for this reason that the Sellers and the Purchaser have resolved                not to                notify the transaction to the Competition                Commission. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 7.   | RISK |
|----------------|------|

| 8.   | JOINT                AND SEVERAL LIABILITY |
|----------------|--------------------------------------------|

*in      solidum*

| 9.   | SECURITY |
|----------------|----------|

| 9.1.   | As                security for payment by the Purchaser to the Sellers of the purchase                price                as provided in clause 4                hereof, the Purchaser shall pledge to the Sellers in *securitatem                debiti*                so                many of the shares issued by the Company to the Purchaser following                the                purchase by the Purchaser and transfer to the Purchaser of the Sold                Shares                as is equal to 25% (twenty-five percent) of the issued share capital                of                the Company immediately after the Closing                Date. |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.2.   | In                pursuance of the Purchaser’s obligations in terms of clause 9.1                hereof, as soon as the shares in the Company to which the Purchaser                shall                be entitled have been issued to the Purchaser after the transfer                to the                Purchaser of the Sold Shares, the Purchaser shall deposit with the                Purchaser’s Attorneys by way of a pledge *in                securitatem debiti*                the original share certificates in respect of shares representing                25%                (twenty-five percent) of the issued share capital of the Company                immediately after the Closing Date and a securities transfer form                or forms                signed by the Purchaser as transferor, undated and blank as to the                name of                the transferee. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.3.   | Upon                whichever is the earlier of payment by the Purchaser to the Sellers                on                account of the purchase price of an amount in excess of                R50 000 000.00 (fifty million rand) or the date or deemed date                of breach by the Sellers of any warranties, undertakings or                representations of the Sellers and in particular paragraph 60                of                annexure “A”, all of the share certificates pledged as provided in terms                of clause 9.2                hereof shall be released from pledge and returned to the                Purchaser. |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 9.4.   | For                the avoidance of doubt, unless and until the Purchaser should fail                to make                payment to the Sellers of the amount payable to the Sellers in terms                of                clause 4.2                hereof in circumstances entitling the Sellers to proceed to realize                the                shares in the Company of the Purchaser which have been pledged to                the                Sellers, the Purchaser shall be entitled to exercise all rights to                which                the Purchaser might be entitled by way of ownership of the shares                in the                Company pledged to the Sellers as provided in this clause 9. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.   | WARRANTIES,                UNDERTAKINGS AND REPRESENTATIONS OF THE                SELLERS |
|-----------------|-------------------------------------------------------------------------------------------|

|  10.1.   | The                Sellers undertake as soon as reasonably possible after the Closing                Date,                and in any event by not later than 1 (one) month after the Closing                Date,                to cause to be prepared the Closing Date Financial Statements and                to                deliver the Closing Date Financial Statements to the                Purchaser.  |
|-------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2.   | The                Sellers give and make to the Purchaser the warranties, undertakings                and                representations set out in Annexure “A” hereto on the basis                that: |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2.1.   | the                Sellers acknowledge that this Agreement has been entered into by                the                Purchaser relying on the truth of such warranties, undertakings and                representations; |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2.2.   | the                warranties shall be deemed to be representations and undertakings                by the                Sellers in favour of the Purchaser; |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2.3.   | unless                the contrary is proved, each warranty shall be deemed to be a                representation of fact which has induced the Purchaser to enter into                this                Agreement; |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2.4.   | each                warranty shall be a separate warranty and in no way be limited or                restricted by reference to or inference from the terms of any other                warranty; |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2.5.   | save                where the context clearly indicates the contrary, all warranties                and                undertakings given by the Sellers to the Purchaser set out in Part                A of                Annexure “A” hereto shall be warranted as at the Signature Date and the                Closing Date and all warranties and undertakings given by the Sellers                to                the Purchaser set out in Part B of Annexure “A” hereto shall be warranted                as at the due date thereof according to the terms of the relevant                warranty                / undertaking; |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 10.2.6.   | the                Purchaser shall not be entitled to cancel this Agreement by reason                of a                breach of any warranty, undertaking or representation given by the                Sellers                unless same is of a material nature going to the root of the contract                and                is not capable of being remedied by payment in money or, if the Sellers                fail to pay the amount which may become due by the Sellers as a                consequence of the breach of any of the warranties, undertakings                or                representations within 15 (fifteen) days after the amount has been                finally                established by agreement or by an order or judgment of a competent                court; |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2.7.   | should                the warranty contained in paragraph 60.3                of                annexure “A” be breached, the Purchaser shall be deemed to have suffered a                loss equal to R12 000 000.00 (twelve million rand) and shall be                entitled to set-off the said sum against the balance of the purchase                price                payable by the Purchaser for the Sold Shares and the Purchaser and                the                Sellers shall procure that transfer of Erf 6350 Newcastle into the                name of                Winlen as successor-in-title of the Sellers, conditional upon Winlen                consenting to lease Erf 6350 Newcastle to the Company for a rental                not                exceeding R120 000.00 (one hundred and twenty thousand rand) per                month, inclusive of VAT from the date of registration of transfer                until                such time as the Company takes occupation of the Permanent Casino                is                effected by the Company without delay at the cost of Winlen against                the                reduction of the share premium account of the Company by the sum                of                R12 000 000.00 (twelve million rand) in accordance with the                provisions of the Companies Act.  |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.3.   | It                is recorded that the Sellers and the Purchaser have agreed that the                Purchaser should be permitted to conduct a detailed commercial, financial                and legal due diligence inquiry into the affairs of the Company in                order                to enable the Purchaser to satisfy itself relating to certain matters                concerning the affairs of the Company. The fact that the Purchaser                has                been permitted to conduct such inquiries shall not relieve the Sellers                of                any of the Sellers’ obligations in terms of this Agreement, including but                not limited to the Sellers’ obligations in terms of clause 10.2,                such due diligence inquiries having been carried out by the Purchaser                entirely without prejudice to all or any of the Purchaser’s rights in                terms of this Agreement or otherwise in                law. |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 11.   | INDEMNITY |
|-----------------|-----------|

| 12.   | LOAN |
|-----------------|------|

*inter      alia*

| 12.1.   | that                the capital amount of the loan together with all other amounts owed                to the                lender under the loan are repaid to the lender in full not later                than 5                (five) years after the advance of the first tranche of                capital; |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.2.   | the                capital shall be advanced to the Company in tranches as and when                required                by the Company; |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------|

----

| 12.3.   | all                money advanced by the lender to the Company shall earn interest at                a rate                not less than the prime overdraft rate of interest charged by the                South                African commercial bank with which the Company from time to time                conducts                the Company’s current bank account; |
|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.4.   | subject                to the consent of the mortgagee referred to in clause 12.5                hereof, fulfillment of the obligations of the Company to the lender                shall                be secured by a mortgage bond in such terms as the lender should                require                registered over the land on which the Permanent Casino is to be                erected; |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.5.   | the                mortgage bond shall rank first in priority behind any mortgage of                the same                land to secure the loan of R40 000 000.00 (forty million rand) to                the                Company contemplated in paragraph 54                of                Annexure “A” hereto and be prepared and registered by the Purchaser’s                Attorneys at the Company’s exclusive                cost. |
|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.   | BROKERAGE |
|-----------------|-----------|

| 14.   | BREACH |
|-----------------|--------|

| 14.1.   | Should                either the Sellers, of the first part, or the Purchaser of the second                part                (“the Party in Default”) commit a breach of any term, condition,                undertaking, warranty or representation contained in this Agreement                and                should such breach be incapable of being remedied or should such                breach be                capable of being remedied and the Party in Default fail to remedy                such                breach within 15 (fifteen) days after receipt of written notice to                that                effect from the other of them, such other Party shall be entitled,                subject                to the provisions of clause 14.2                hereof, without prejudice and in addition to all of such other Party’s                rights in terms hereof or at law, to cancel this Agreement forthwith                by                way of written notice to such effect to the other Parties. |
|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.2.   | In                the event that, after all conditions precedent have been fulfilled                or                waived, the Purchaser should, without just cause, fail to fulfill                the                Purchaser’s obligations to the Sellers in terms of this agreement, the                Purchaser shall be obliged to pay the Sellers a penalty in the sum                of R1                000 000.00 (one million rand) (“the Break Fee”), which Break Fee the                Parties record and agree is a genuine pre-estimate of the damages                which in                such event shall be suffered by the Sellers and which Break Fee shall,                upon payment thereof by the Purchaser, be received and accepted by                the                Sellers in full and final settlement of all or any claims which the                Sellers might have suffered or claim to have suffered by reason of                the                Purchaser having breached the Purchaser’s obligations owed the Sellers in                terms of this Agreement. |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 15.   | CANCELLATION                OF MANAGEMENT CONTRACT |
|-----------------|----------------------------------------------------|

----

| 16.   | ANNOUNCEMENTS |
|-----------------|---------------|

| 17.   | APPROVAL                PENDING PAYMENT |
|-----------------|-----------------------------------------|

| 17.1.   | incur                capital expenditure (excluding capital expenditure relating to the                Permanent Casino) exceeding with regard to any particular item                R300 000.00 (three hundred thousand rand) in                value; |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.2.   | incur                loans exceeding in respect of any particular loan R250 000.00 (two                hundred                and fifty thousand rand) in value; |
|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.3.   | enter                into any lease or other financing agreement exceeding in respect                of any                particular agreement R250 000.00 (two hundred and fifty thousand                rand) in                value; |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.4.   | cancel                any employment contracts where the gross monthly remuneration of                the                employee concerned exceeds R50 000.00 (fifty thousand rand) in                value; |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.5.   | with                the exception of any dividend payable in terms of the provisions                of clause                18                hereof, pay dividends; |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.6.   | sell                assets exceeding R100 000.00 (one hundred thousand rand) in                value. |
|-------------------|-------------------------------------------------------------------------------------------------------|

----

| 18.   | PROFITS |
|-----------------|---------|

| 18.1.   | Winlen,                as the successor-in-title of the Sellers shall have the right to                payment                by the Company of a dividend in compliance with the provisions of                the                Companies Act of an amount equal to the lesser                of: |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.1.1.   | the                net income after tax and available for dividend of the Company for                the                period from 1 March 2005 up to and inclusive of the Closing Date;                and |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.1.2.   | the                available cash resources of the Company, excluding an amount equal                to: |
|---------------------|----------------------------------------------------------------------------------------------------------|

| 18.2.   | the                average over the preceding period of 6 (six) months of all monies                or money                equivalents required for the daily operation of the business of the                Company and, in particular, the casino operated by the Company. Payment                to                the Sellers of any dividend, as contemplated in clause 18.1                hereof shall be made upon approval of the Closing Date Financial                Statements by the directors of the Company appointed after the Closing                Date. |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.3.   | For                the purposes of this clause 18: |
|-------------------|----------------------------------------------------|

| 18.3.1.   | “net                income after tax and available for dividend” shall mean net income after                tax per the Closing Date Financial Statements, excluding any income                or                losses from the sale or re-valuation of non current                assets; |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.3.2.   | “available                cash resources” shall mean the excess of current assets over current                liabilities per the Closing Date Financial                Statements. |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.4.   | Winlen,                as the successor-in-title of the Sellers, shall be entitled to be                reimbursed after the Closing Date for all professional fees and                disbursements incurred by the Company relating to the development                of the                Permanent Casino between the Signature Date and the Closing Date                with the                approval of the Purchaser after the Signature Date. Such reimbursement                shall take place as and when the directors of the Company should,                in the                sole discretion of the directors, consider that the available cash                resources of the Company so permit, taking into account the budgeted                cash                requirements of the Company and the Company’s obligations to creditors of                the Company. |
|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 19.   | WINLEN                AND POLO GRILL |
|-----------------|--------------------------------------|

| 19.1.   | the                entire proceeds of such payment are applied by the Sellers to settling                in                full the debts owed by Winlen and Polo Grill to the Company and the                cost                of the acquisition by the Sellers of the Company’s shares in Winlen and                Polo Grill; |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19.2.   | the                net asset value of the Company will not as a result of such payment                as at                the Closing Date have been reduced to a sum less than R23 000 000.00                (twenty-three million rand). “Net asset value” shall mean the excess of                assets, excluding intangible assets and revaluations of assets after                28                February 2005 over liabilities of the Company per the Closing Date                Financial Statements. |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.   | NOTICES                AND DOMICILIA |
|-----------------|--------------------------------------|

| 20.1.   | The                Parties choose as their *domicilium                citandi et executandi*                their addresses set out in this clause 20                for all processes arising out of or in connection with this Agreement                at                which addresses all the processes and notices arising out of or in                connection with this Agreement, the breach or termination thereof                may                validly be served upon or delivered to the                Parties. |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.2.   | For                the purposes of this Agreement the Parties’ respective addresses shall                be: |
|-------------------|--------------------------------------------------------------------------------------------------------------------|

| 20.2.1.   | the                Purchaser:     20th                Floor, 1 Thibault Square |
|---------------------|---------------------------------------------------------------------------------------------------------|

----

| 20.2.2.   | the                Sellers:        c/o                Deloitte |
|---------------------|--------------------------------------------------------------------------------------------------------|

*poste      restante*

| 20.3.   | Any                notice given in terms of this Agreement shall be in writing and shall,                unless the contrary is proved: |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------|

| 20.3.1.   | if                delivered by hand be deemed to have been duly received by the addressee                on                the date of delivery; |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.3.2.   | if                delivered by courier service be deemed to have been received by the                addressee on the 1st                (first) Business Day following the date of such                delivery; |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.3.3.   | if                transmitted by facsimile be deemed to have been received by the addressee                1 (one) Business Day after                dispatch. |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.4.   | Notwithstanding                anything to the contrary contained in this Agreement, a written notice                or                communication actually received by one of the Parties from another                including by way of facsimile transmission or e-mail shall be adequate                written notice or communication to such                Party. |
|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.   | MISCELLANEOUS |
|-----------------|---------------|

| 21.1.   | The                Parties shall at all times show the utmost good faith to each other                in the                implementation of the terms and conditions of this                Agreement. |
|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 21.2.   | No                alteration, cancellation, variation of, or addition hereto shall                be of any                force or effect unless reduced to writing and signed by all the Parties                to                this Agreement or their duly authorised                representatives. |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.3.   | This                document contains the entire agreement between the Parties relating                to                these presents and no Party shall be bound by any undertakings,                representations, warranties, promises or the like not recorded                herein. |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.4.   | No                indulgence, leniency or extension of time which any Party may grant                or                show to any other Party, shall in any way prejudice such Party or                preclude                such Party from exercising any of that Party’s rights in the                future. |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.5.   | The                terms of this Agreement having been negotiated at armslength, the                contra                proferentem rule shall not be applicable to the interpretation of                the                terms and conditions of this                Agreement. |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.6.   | The                Parties undertake at all times to do all such things, to perform                all such                acts and to take all such steps and to procure the doing of all such                things, the performance of all such actions and the taking of all                such                steps as may be open to them and necessary for or incidental to the                putting into effect or maintenance of the terms, conditions and import                of                this Agreement. |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22.   | COSTS |
|-----------------|-------|

----

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                               Vathasallum Reddy**

**                           who      warrants he is duly authorised hereto for and on behalf of**

**                           Chicory Investments      (Proprietary) Limited**

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                               Vathasallum Reddy**

**                               who warrants he is duly authorised hereto for and on behalf      of**

**                          Dynamo      Investments Limited**

----

**SIGNED      AT UMHLANGATHIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                          Vathasallum        Reddy**

**                                 who warrants he is duly authorised hereto for and on behalf        of**

**                          Harvest        Moon Investment Holdings (Proprietary) Limited**

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                          Vathasallum        Reddy**

**                          who        warrants he is duly authorised hereto for and on behalf of**

**                                 Izulu Gaming (Proprietary) Limited**

----

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                          Vathasallum        Reddy**

**                                 who warrants he is duly authorised hereto for and on behalf        of**

**                          Khulani        Holdings Limited**

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                          Vathasallum        Reddy**

**                                 who warrants he is duly authorised hereto for and on behalf        of**

**                          Libalele        Leisure (Proprietary) Limited**

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                          Vathasallum        Reddy**

**                                 who warrants he is duly authorised hereto for and on behalf        of**

**                          Malesela        Gaming (Proprietary) Limited**

----

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                          Vathasallum        Reddy**

**                                 who warrants he is duly authorised hereto for and on behalf        of**

**                          Oakland        Leisure Investments (Newcastle) (Proprietary)        Limited**

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                          Vathasallum        Reddy**

**                                 who warrants he is duly authorised hereto for and on behalf        of**

**                          Purple        Rain Properties No 62 (Proprietary) Limited**

----

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                          Vathasallum        Reddy**

**                                 who warrants he is duly authorised hereto for and on behalf        of**

**                          Ruvuma        Investment (Proprietary) Limited**

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                                 Vathasallum Reddy**

**                          who        warrants he is duly authorised hereto for and on behalf of**

**                          Saphila        Investments (Proprietary) Limited**

** **

----

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                         Vathasallum        Reddy**

**                                 who warrants he is duly authorised hereto for and on behalf        of**

**                          Viva        Leisure Invesment Holdings (Proprietary)        Limited**

**SIGNED      AT UMHLANGA THIS 16th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                                 Vathasallum Reddy**

**                                 who warrants he is duly authorised hereto for and on behalf        of**

**                          The        Viva Trust**

**SIGNED      AT CAPETOWN THIS 18th DAY OF OCTOBER 2005**

**AS      WITNESSES:**

**                          For        and on behalf of Century Casinos Africa (Proprietary)        Limited**

**                                 **

----

**ANNEXURE      “A”**

**SCHEDULE      OF WARRANTIES AND UNDERTAKINGS**

**PART      A**

**CONSTITUTION      OF THE COMPANY AND SHARE CAPITAL STRUCTURE**

| 1.   | The                Company shall be incorporated as a private Company with limited liability                according to the laws of the Republic of South                Africa. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | No                steps shall have been taken or be pending for the deregistration                of the                Company, whether under section 73 of the Companies Act or otherwise                howsoever, and no steps shall have been taken or be pending to wind                up the                Company or place the Company under judicial management (whether such                winding up or judicial management is final or                provisional). |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | All                of the issued shares in the capital of the Company shall be of one                class                and rank pari passu with each                other. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | The                Company shall not be obliged to increase or to reduce the Company’s                authorised or issued share capital or to vary any of the rights attaching                to the issued shares. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.   | The                Sellers shall be entitled and able to give to the Purchaser free                and                unencumbered title to the Sold                Shares. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.   | No                person shall have any right (including inter alia, any option, pre-emptive                right or right of first refusal) to acquire any of the Sold                Shares. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.   | No                person shall have any right to obtain an order for the rectification                of                the register of members of the Company, and the register of members                of the                Company shall contain a true and accurate record of the members of                the                Company from time to time. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 8.   | No                resolution shall have been passed, nor shall the Company be obliged,                to                alter the memorandum of association or articles of association, or                to                create or to issue any debentures. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.   | No                person shall be entitled to participate in, or to a commission on,                the                profits or dividends of the Company other than as a shareholder in                respect                of dividends. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.   | No                shares in the issued share capital of the Company shall be bonus                or                capitalisation shares. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------|

**THE      BUSINESS OF THE COMPANY**

| 11.   | The                business of the Company shall at all times have been carried on by                the                Company in an ordinary, normal and regular                manner. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.   | The                Company shall not have done or omitted to have done any act or thing                which                might in any way be materially prejudicial to the goodwill of the                business                of or the right of the Company to hold the licenses for the conduct                of the                business of the Company. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.   | No                written contracts of employment shall exist between the Company and                any                employee of the Company, save as disclosed in writing to the Purchaser                prior to the Signature Date and no oral contract of employment shall                exist                which provides for more than 1 (one) months notice, save as disclosed                in                writing to the Purchaser prior to the Signature                Date. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.   | The                Company shall not be a party to any dispute with any employee or                former                employee in terms of the Labour Relations Act, No. 66 of 1995 or                otherwise. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 15.   | The                trading methods and styles of the Company, including the trade marks,                names or other intellectual property of the Company used by the Company                shall not constitute an infringement of the rights of any third                party. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.   | No                person shall be entitled to any order requiring the Company to cease                to                use any of the trade marks, names or other intellectual property                of the                Company. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 17.   | All                fixed assets and stock of the Company shall be adequately insured                for such                amounts as accord with sound business principles and such insurances                shall                not terminate earlier than 30 (thirty) days after the Closing Date,                all                premiums due in respect of such insurance shall have been paid and                the                Company shall have complied with all the conditions to which the                liability                of the insurers under such policies of insurance will be                subject. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.   | The                Company shall be adequately insured for such amounts as accord with                sound                business principles with regard to public liability and such insurances                shall terminate not earlier than 30 (thirty) days after the Closing                Date                and all premiums due in respect of such insurance shall have been                paid and                the Company shall have complied with all the conditions to which                the                liability of the insurers under such policies of insurance shall                be                subject. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19.   | All                the equipment of the Company, including any computer software, shall                be                fully operational and in normal working order and shall, to the best                of                the Seller’s knowledge and belief, be free from defects, whether patent or                latent. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.   | The                Company shall not be bound by any contracts, agreements or commitments                save as disclosed in writing to the                Purchaser. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.   | The                Company shall not have given any power of attorney or other authority                (express, implied or ostensible) which is still outstanding or effective                to any person to enter into any contract or commitment or to do anything                on the Company’s behalf (other than the authority of the Company’s                employees to enter into routine trading contracts in the ordinary                course                of their duties and the Company’s                business). |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22.   | The                Company shall not have given nor shall the Company be a party to                any                suretyships, guarantees, indemnities or similar documents in respect                of                any liabilities of any other person, and shall not be liable whether                as                guarantor, indemnifier, surety, co-principal debtor or otherwise                howsoever                for any liabilities of any other                person. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 23.   | All                necessary consents, licences, permits and other authorities required                for                the conduct of the business carried on by the Company in the places                and in                the manner in which such business is carried on at the Signature                Date                shall have been obtained and be valid and in full force, and the                Sellers                know of no reason why any of them should be suspended, cancelled                or                revoked. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 24.   | All                stamp duty in terms of the Stamp Duties Act, 1968 and in respect                of which                no exemption is applicable shall have been paid in respect of the                shares                in the Company already issued. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 25.   | The                Company shall not have granted to any person any exclusive rights                in                respect of any of the Company’s products or                services. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26.   | No                agreement shall be in force or have been entered into by the Company                restricting the freedom of the Company to carry on the business of                the                Company in the manner presently                conducted. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 27.   | The                Company shall not have incurred any liabilities (actual, accrued                or                contingent) outside the ordinary, normal and regular course of the                conduct                of the business of the Company other than in the restructuring of                the                Company so as to divest the Company of the Company’s interest in Polo                Grill and Winlen in respect of which the liabilities incurred shall                not                exceed R3 000 000.00 (three million                rand). |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 28.   | The                books of account of the Company shall correctly reflect all transactions,                income, assets and liabilities of the                Company. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.   | The                Company shall not be indebted to any of the Sellers or any other                shareholder of the Company for monies lent and advanced or from any                other                cause. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**LITIGATION**

| 30.   | The                Company shall not be a party to any litigation (except as disclosed                in                writing to the Purchaser), tax objection or appeal, arbitration                proceedings, labour or industrial relations disputes or criminal                proceedings, and nor are any such proceedings or disputes threatened                against or likely to be instituted by or against the Company, and                the                Sellers are not aware of anything which might indicate the possibility                of                any such proceedings or disputes being instituted or                arising. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**TAXATION**

| 31.   | Except                as disclosed to the Purchaser in writing, no queries shall have been                addressed to the Company or any of the Company’s representatives by any                tax official nor shall any tax objections have been lodged by the                Company                which have not been fully disposed                of. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.   | Except                as disclosed to the Purchaser in writing to the contrary the                Company: |
|-----------------|------------------------------------------------------------------------------------------------------------|

| 32.1   | shall                have duly and punctually paid all taxes which the Company shall have                become liable to pay arising from or out of the profits or income                of the                Company for all periods prior to the Closing Date for which purposes                “taxation” shall include: |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1.1   | normal                taxation; |
|--------------------|---------------------------------|

| 32.1.2   | value                added tax; |
|--------------------|---------------------------------|

| 32.1.3   | regional                services council levies; |
|--------------------|--------------------------------------------------|

| 32.1.4   | secondary                tax on companies; |
|--------------------|--------------------------------------------|

| 32.1.5   | all                other forms of taxation; |
|--------------------|---------------------------------------------|

| 32.1.6   | any                taxation arising from new assessments of taxation and/or the reopening                of                any income tax assessments of the                Company; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1.7   | any                penalties or interest as a result                thereof. |
|--------------------|------------------------------------------------------------------------------|

| 32.2   | all                the Company's assessments for tax due for payment prior to the Closing                Date shall have been paid or adequate provisions or reserves for                tax shall                have been established therefor in the Closing Date Financial Statements. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.3   | the                Company shall not be under any liability to pay any penalty or interest                in                connection with any claim for tax nor shall the Company be subject                to any                liability as a result of the re-opening of any of the Company’s income tax                assessments. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 33.   | The                Company shall have properly and punctually submitted all returns                and                provided all information required for tax purposes and none of such                returns shall be disputed by the South African Revenue Service or                any                other authority except claims made by the South African Revenue Service                as                more fully detailed in a memorandum entitled “Balele Leisure (Pty) Limited                (“Balele”): Status of Income Tax, Employees Tax and Value-Added Tax                Objections” attached to this                schedule. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**ENVIRONMENTAL**

| 34.   | To                the best of the knowledge and belief of the Sellers, all activities                of the                Company shall have at all times been conducted in compliance with                all                applicable environmental laws and                regulations. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**DISCLOSURE**

| 35.   | Nothing                materially adverse regarding the affairs of the Company or business                of the                Company shall exist. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------|

| 36.   | The                Sellers shall have disclosed to the Purchaser to the best of the                knowledge                and belief of the Sellers all facts and circumstances material to                the                acquisition by the Purchaser of the Sold Shares and to the assessment                of                the purchase price payable                therefor. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**ASSETS**

| 37.   | The                Company shall be the registered and sole beneficial owner of the                following                land: |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------|

| 37.1   | Erf                6350 Newcastle; |
|------------------|------------------------------------|

| 37.2   | Erf                6354 Newcastle (Extension no. 34), Registration Division HS, in the                Newcastle Municipality, Province of KwaZulu-Natal, measuring 1170                square                metres, held under deed of transfer no. T73950/2003 which the Company                is                under an obligation to transfer to a third party as a prize won by                the                third party in a competition run by the Company.                . |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 38.   | The                Company shall have repaid to Nedcor Bank Limited the full amount                of the                capital indebtedness of R4 500 000.00 (four million five hundred                thousand                rand) and all other amounts owed Nedcor Bank Limited under a mortgage                bond                no. B290046/2000 registered over the land referred to in 37.1. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 39.   | Except                for the mortgage bond no. B29046/2000** **registered                over the land referred to in 37.1,                none of the land or other assets of the Company shall be subject                to: |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 39.1   | any                mortgage, debenture or notarial bond;                or |
|------------------|----------------------------------------------------------------------------|

| 39.2   | any                right of retention, pledge, lien, cession in security or other                encumbrance; or |
|------------------|------------------------------------------------------------------------------------------------------------------|

| 39.3   | any                lease, instalment sale or credit or hire purchase agreement;                or |
|------------------|---------------------------------------------------------------------------------------------------|

| 39.4   | in                the case of the land, any                expropriation. |
|------------------|---------------------------------------------------------------------------|

| 40.   | The                Company shall not have granted to any person any option to purchase,                or                any right of pre-emption over any of the Company’s land or other                assets. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 41.   | The                Company shall not be under any obligation to acquire or purchase                any fixed                assets, or under any obligation requiring the expenditure of any                material                capital sum, except for the purchase of the land referred to in 6.2.8                of                the Agreement. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 42.   | Substantially                all of the existing fixtures, fittings and equipment used in the                Temporary                Casino shall be in a fit state to be used in the Permanent                Casino. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 43.   | The                Company shall be the sole registered and beneficial owner of                the entire issued share capital of                Newcastle; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 44.   | Insofar                as Newcastle is concerned, the Sellers hereby warrant that all paragraphs                of this Annexure “A” shall apply *mutatis                mutandis*                as                in respect of the Company with the sole exception of paragraphs                5,                6,                37,                38,                39,                41,                42**,**43,                45                to                48                inclusive and 54                to                59                inclusive and that: |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 44.1   | none                of the land or other assets of Newcastle shall be subject                to: |
|------------------|--------------------------------------------------------------------------------------------------|

| 44.1.1   | any                mortgage, debenture or notarial bond;                or |
|--------------------|----------------------------------------------------------------------------|

| 44.1.2   | any                right of retention, pledge, lien, cession in security or other                encumbrance; or |
|--------------------|------------------------------------------------------------------------------------------------------------------|

| 44.1.3   | any                lease, instalment sale or credit or hire purchase agreement;                or |
|--------------------|---------------------------------------------------------------------------------------------------|

| 44.1.4   | in                the case of land, any                expropriation; |
|--------------------|-----------------------------------------------------------------------|

| 44.2   | Newcastle                shall have purchased from the Municipality of Newcastle in terms                of an                agreement of sale signed on 14 January 2003 and an addendum signed                on 24                March 2005 for a purchase price of R375 000.00 (three hundred and                seventy-five thousand rand) the land described in clause 1.1.16                of                the Agreement. |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 45.   | The                Company shall hold a valid casino licence which may be transferred                to the                Permanent Casino and the validity of which shall not be jeopardized                by the                acquisition by the Purchaser of the Sold Shares in terms of this                Agreement                or the fact that the Permanent Casino is to be erected on land to                be                purchased by the Company. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 46.   | The                Company shall be entitled to a period of exclusivity relating to                the                casino licence of the Company, the period of which exclusivity shall                be 15                (fifteen) years calculated from 12 September                1999. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**PART      B**

| 47.   |   |
|-----------------|--------|

| 47.1   | The                issued share capital of the Company shall as at the Closing Date                be                R566.46 (five hundred and sixty-six rand and forty-six cents) consisting                of 56,646 (fifty-six thousand six hundred and forty-six) ordinary                par                value shares of one cent each which were allotted at a premium of                R57 703 434.00 (fifty-seven million seven hundred and three thousand                four hundred and thirty-four rand), of which premium an amount not                exceeding R3 000 000.00 (three million rand) shall have been repaid                to                members of the Company. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2   | As                at the Closing Date, the issued share capital of the Company shall                be                owned by the shareholders whose names appear hereunder, each of which                shall own the number of shares detailed opposite that shareholder’s                name: |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2.1   | Chicory                Investments (Proprietary)                Limited                                -1272 |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2.2   | Dynamo                Investments                Limited                                                      -6374 |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2.3   | Harvest                Moon Investment Holdings |
|--------------------|-------------------------------------------------|

| 47.2.4   | Izulu                Gaming (Proprietary)                Limited                                            -11581 |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2.5   | Khulani                Holdings                Limited                                              -9839 |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2.6   | Libalele                Leisure (Proprietary)                Limited                                         -1267 |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2.7   | Malesela                Gaming (Proprietary)                Limited                                        -900 |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2.8   | Oakland                Leisure Investments (Newcastle) |
|--------------------|--------------------------------------------------------|

| 47.2.9   | Purple                Rain (Proprietary)                Limited                                                -1273 |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2.10   | Ruvuma                Investment (Proprietary)                Limited                   -686 |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2.11   | Saphila                Investments (Proprietary)                Limited                                -6547 |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47.2.12   | Viva                Leisure Investment Holdings                (Proprietary) |
|---------------------|------------------------------------------------------------------------------|

| 47.2.13   | The                Viva                Trust                                                                               -2619 |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 48.   | the                authorised share capital of the Company shall at the Closing Date                be                R1,000.00 (one thousand rand) consisting of 100,000 (one hundred                thousand)                ordinary par value shares of one cent                each. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 49.   | To                the best of the knowledge and belief of the Sellers, the information                disclosed to the Purchaser and/or the Purchaser’s representatives during                the course of the due diligence inquiry conducted by the Purchaser                prior                to the Signature Date shall have been accurate and contained no material                errors or omissions. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 50.   | All                contractual arrangements and/or undertakings relating to any bonuses,                profit, share participations, incentives and the like payable to                employees                of the Company shall have been disclosed in writing to the Purchaser                prior                to the Signature Date. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 51.   | No                salaries, wages or other remuneration or benefits (including commission,                gratuities, sick leave or bonuses) shall be owing to any employees                of the                Company as at the Closing Date or for any period prior to the Closing                Date, save as disclosed in writing by the Sellers to the Purchaser                prior                to the Signature Date. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 52.   | No                person shall by reason of any entitlement arising before the Closing                Date                have any right to a pension, annuity, gratuity or similar payment                from the                Company as at the Closing Date or at any time thereafter, whether                as a                result of the change of ownership of the majority of the shares in                the                Company or any other reason whatsoever. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 53.   | No                contributions to any pension or provident fund shall as at the Closing                Date be owing or payable by the Company on behalf of any of the employees                of the Company other than amounts due for the current or immediately                preceding month. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 54.   | The                Company shall as at the Closing Date have secured a loan facility                for an                amount of approximately R40 000 000.00 (forty million rand) at a                favourable interest rate with Absa Bank Limited or any other banking                institution to be secured by way of a mortgage bond over the land                referred                to in 1.1.16                of                the Agreement, with a view to the loan being utilised on the development                of the Permanent Casino. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 55.   | It                shall be reasonably feasible as at the Closing Date for the Company                to                develop the Permanent Casino on a budget of approximately R52 000                000.00                (fifty-two million rand) (exclusive of                VAT). |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 56.   | The                land referred to in clause 1.1.16                of                the Agreement shall as at the Closing Date provide enough space for                a                larger casino, a hotel with approximately 40 (forty) rooms and ancillary                facilities such as conference facilities, restaurant, parking and                the                like. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 57.   | The                business of the Temporary Casino shall have generated in the 12 (twelve)                month period prior to the Closing Date approximately R40 000 000.00                (forty                million rand) in revenues and approximately R8 300 000.00 (eight                million three hundred thousand rand) in earnings before interest,                taxation, depreciation and                amortization. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 58.   | The                Closing Date Financial Statements                shall: |
|-----------------|----------------------------------------------------------------------------|

| 58.1   | make                full provision for all liabilities (accrued or contingent) of the                Company                and for all bad or doubtful debts as at the relevant                date; |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 58.2   | be                prepared in accordance with South African statements of generally                accepted                accounting practice; |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| 58.3   | be                prepared on the basis of accounting policies consistent with prior                years,                in particular those followed in the preparation of the 2005 Financial                Statements; |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 58.4   | conform                with the provisions of the Companies Act and all other applicable                laws; |
|------------------|---------------------------------------------------------------------------------------------------------------|

| 58.5   | be                approved by the directors of the Company, being the directors of                the                Company at the relevant time prior to the Closing                Date; |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 58.6   | fairly                present the financial position of the Company, the results of the                Company’s operations and cashflow information for the period                concerned; |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 58.7   | be                audited by the Auditors of the Company whose report and opinion thereon                shall be unqualified; |
|------------------|--------------------------------------------------------------------------------------------------------------------------------|

| 58.8   | except                to the extent which might reasonably be required as a consequence                of any                provision of this Agreement, not differ materially from the 2005                Financial                Statements or the Management Accounts of the                Company; |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 58.9   | disclose                that the Company has no debts; |
|------------------|--------------------------------------------------------|

| 58.10   | disclose                that the net asset value of the Company is not less than                R23 000 000.00 (twenty-three million                rand). |
|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 59.   | Between                1 April 2005 and the Closing Date there shall have been no increases                in                the salaries or wages paid or payable to directors and/or employees                of the                Company. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 60.   | Insofar                as Erf 6350 Newcastle is concerned: |
|-----------------|------------------------------------------------------------|

| 60.1   | as                at the Signature Date the market value thereof shall be not less                than                R12 000 000.00 (twelve million rand), exclusive of                VAT; |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 60.2   | as                at the Signature Date there shall be a reasonable prospect of the                Company                selling Erf 6350 Newcastle for a selling price of not less than                R12 000 000.00 (twelve million rand), exclusive of                VAT; |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 60.3   | the                Company shall succeed within a period of 60 (sixty) days after the                Closing                Date in concluding with a third party a written agreement for the                sale of                Erf 6350 Newcastle for a selling price of R12 000 000.00 (twelve                million rand), exclusive of VAT, or more, on terms reasonably acceptable                to the Parties; |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 60.4   | in                the event of the Company selling Erf 6350 Newcastle, the Sellers                shall                procure that the purchaser shall be bound to lease Erf 6350 Newcastle                to                the Company from the date of registration of transfer into the name                of the                purchaser at a monthly rental not exceeding R120 000.00 (one hundred                and twenty thousand rand) inclusive of VAT until such time as the                Company                takes occupation of the Permanent                Casino. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----