15 October 2010

Shareholders are advised that all the resolutions which were proposed at the general meeting held on 15 October 2010 were passed with the requisite majorities of votes.

The conditions precedent to the distribution to Sephaku Holdings shareholders, as a dividend in specie, of all of the issued shares in Incubex in the ratio of one Incubex share for every ten Sephaku Holdings shares held on the record date (“the distribution”) have therefore been fulfilled and the distribution will therefore proceed in accordance with the dates set out in the announcement dated 30 September 2010.

Furthermore, all conditions precedent to the issue of shares for cash by Sephaku Cement (Pty) Limited, an 80.22% held subsidiary of Sephaku Holdings, to Dangote Industries Limited (“Dangote”) in order to settle a loan of R75.4 million and for the subscription of shares in an amount of R703.4 million (“the Dangote issue”) have therefore also been fulfilled.

Pretoria
15 October 2010

Sponsor and corporate advisor to Sephaku Holdings
QuestCo