DISTELL GROUP LIMITED - Acceptance Of Share Appreciation Rights (Sar?

Acceptance Of Share Appreciation Rights (“Sar”

DISTELL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1988/005808/06)
ISIN: ZAE000028668
Share Code: DST
(“Distell”)

ACCEPTANCE OF SHARE APPRECIATION RIGHTS (“SAR”) BY DIRECTORS AND
THE COMPANY SECRETARY

Executive directors and the company secretary of Distell, and
directors of Distell Limited (a major subsidiary of Distell)
accepted SARs (in respect of ordinary shares) on 9 October 2012 at
a grant price of R93.35 per SAR, which is based on the closing
price of Distell shares on 1 October 2012.

              COMPANY      NUMBER OF     TOTAL VALUE OF NATURE OF
                           SARS          TRANSACTION    INTEREST
MJ Botha      Distell      60 228        R5 622 283.80  Direct
                                                        beneficial
JJ Scannell   Distell      130 566       R12 188 366.10 Direct
                                                        beneficial
CJ Cronjé     Distell      32 928        R3 073 828.80  Direct
(company                                                beneficial
secretary)
W Bührmann    Distell      26 103        R2 436 715.05   Direct
              Limited                                    beneficial
PF Carolin    Distell      11 637        R1 086 313.95   Direct
              Limited                                    beneficial
VC de Vries   Distell      10 962        R1 023 302.70   Direct
              Limited                                    beneficial
DJ Gallow     Distell      30 294        R2 827 944.90   Direct
              Limited                                    beneficial
C Gous        Distell      12 285        R1 146 804.75   Direct
              Limited                                    beneficial
D M Hegland   Distell      5 220         R487 287.00     Direct
              Limited                                    beneficial
SW Klopper    Distell      22 416        R2 092 533.60   Direct
              Limited                                    beneficial
MG            Distell      7 671         R716 087.85     Direct
Lambrechts    Limited                                    beneficial
NT Moodley    Distell      6 702         R625 631.70     Direct
              Limited                                    beneficial
K Pillay      Distell      15 345        R1 432 455.75   Direct
              Limited                                    beneficial
MR Searle     Distell      28 692        R2 678 398.20   Direct
              Limited                                    beneficial
CLC Snyman    Distell      28 533        R2 663 555.55   Direct
              Limited                                    beneficial
JJ Venter     Distell      27 966        R2 610 626.10   Direct
              Limited                                    beneficial

The SARs may be exercised as follows:
  -   up to one third of the SARs may be exercised on or after the
      third anniversary of the date of grant;
  -   up to two thirds of the SARs may be exercised on or after
      the fourth anniversary of the date of grant, to the extent
      that they have not been exercised previously;
  -   all of the SARs may be exercised on or after the fifth
      anniversary of the date of grant, to the extent that they
      have not been exercised previously;
  -   all SARs must be exercised by the seventh anniversary of the
      date of grant.

Approval for the above transactions has been obtained, and all
transactions were completed off market.


Stellenbosch
10 October 2012

Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)

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