14 March 2012

Shareholders of Sephaku Holdings (“Shareholders”) are referred to the finalization announcement dated 7 March 2012 (“the finalization announcement”) which sets out information relating to the distribution of shares in Sephaku Fluoride in the ratio of 1 Sephaku Fluoride share, valued at R0.59 per share, for every 1 Sephaku Holdings share held (“the Sephaku Fluoride distribution”).

Shareholders are advised that private and off-market trading and the commensurate transfers in the securities of Sephaku Fluoride, subsequent to the implementation of the Sephaku Fluoride distribution as set out in the finalization announcement, may be implemented through utilizing the ISIN number ZAU000012387.

All settlements of unlisted Sephaku Fluoride shares held in uncertificated form will occur in the Strate Limited (“Strate”) dematerialized environment. All settlements through Strate are in ZAR and the same custody and settlement rules and procedures in place for the listed environment will apply in the unlisted environment.

Pretoria
14 March 2012

Sponsor and transaction adviser
QuestCo (Pty) Limited