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Peermont Bets on Africa

17 May 2005

JOHANNESBURG, South Africa – As reported by Reuters: "South African hotel and casino company Peermont Global is in talks to launch hotel and casino resorts in Mozambique, Angola and Uganda as it expands in Africa to keep profits rising.

"Chief Executive Ernie Joubert told Reuters South Africa's second-biggest hotel and gambling company expected to clinch a deal next month and at least another by the end of December and that all projects abroad would be done with a local partner.

"…The company, which floated on the Johannesburg stock exchange in September, said it was investigating four possibilities in South Africa, and said new projects at home and abroad would be combined hotel and casino complexes.

"Peermont, which currently runs hotels and casinos in South Africa and Botswana, says business is booming amid burgeoning consumer confidence and expects its net earnings to rise this year 'in line with analyst expectations'…"

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