20 November 2009

In compliance with Rule 3.59 of the JSE Limited Listings Requirements, Sephaku Holdings announces that, with effect from Friday 20 November 2009, Dr David Twist, who is currently the alternate director for Mr Rudolph de Bruin, has become the alternate director for Mr Morrison Smit and Mr Johannes Wilhelm Wessels has been appointed to the board as the alternate director for Mr Rudolph de Bruin. Mr Wessels is a senior attorney with many years of experience and also serves as Chairman of African Nickel Limited, the co-shareholder with Sephaku Holdings in African Nickel Holdings (Pty) Limited.

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