media release re joint venture, page-10

LOL - I thought the highlighted line was a give away...

ASX/MEDIA RELEASE August 12,2008

CITYVIEW FORMS JOINT VENTURE IN ANGOLAN BREWING

CityView Corporation Limited ("CityView") is pleased to advise that it has entered into and agreement with INBEV for the development of a world class brewing plant in Luanda, Angola.

INBEV is a large multinational brewer, with well known beer brands such as Becks, Stella Artois and Hoegaarden. For more information on INBEV and its subsidiaries, please visit http://www.inbev.com.

Under this agreement, CityView will enter into a joint venture with INBEV to create an Angolan Special Purpose Vehicle (SPV) with will be owned 51% by INBEV and 49% by CityView.

It is expected that this venture will be funded via CVI shareholders through the sale of Hoegaarden.

It is further expected that CityView shareholders will be able to receive a shareholder discount card, allowing a 20% discount on INBEV brands such as Becks, Stella Artois and Hoegaarden.

This development, in conjunction with those of Pensador Resources Inc., with whom it is intended CityView will merge, is part of CityView's overall strategy for long term investment in West Africa.

Mark Smyth
Chief Executive Officer