26 March 2012

1. Change in roles of directorsIn compliance with section 3.59(a) of the JSE Limited Listings Requirements, shareholders of the Company are hereby advised of the following changes in directors’ roles:

   * Dr Lelau Mohuba, who has to date served as Chairman, has now been appointed as Chief Executive Officer of the Company; and

   * Mr Neil Crafford-Lazarus, who has to date served as Chief Executive Officer, has now been appointed as Financial Director of the Company.

   These changes will be effective from 31 March 2012.

2. Voluntary announcement regarding the Sephaku Fluoride Limited (“Sephaku Fluoride”) distributionFurther to the announcements released on SENS on 7 March 2012 and 14 March 2012, shareholders are advised that those shareholders who are entitled to participate in the Sephaku Fluoride distribution (“qualifying shareholders”) will have their accounts with Central Securities Depository Participants and brokers in South Africa credited with the unlisted (ZAU000012387) Sephaku Fluoride shares on or about today, 26 March 2012.

   Dematerialised shareholders may settle any transaction in Sephaku Fluoride shares through Strate Limited’s settlement system on an off-market basis. All settlements will be in South African Rands and the same custody and settlement rules and procedures that are currently in place for the listed environment will apply to the unlisted environment.

   Where qualifying shareholders have not dematerialised their Sephaku Holdings’ share certificates, new Sephaku Fluoride share certificates will be posted to those qualifying shareholders on the same day.

26 March 2012
Centurion

Sponsor to Sephaku Holdings
QuestCo (Proprietary) Limited