DAW - Dawn - Results of the Rights Offer

DAW - Dawn - Results of the Rights Offer                                        
Distribution and Warehousing Network Limited                                    
(Registration number 1984/ 008265/06)                                           
ISIN: ZAE000018834                                                              
Share Code: DAW                                                                 
("Dawn" or "the Company")                                                       
RESULTS OF THE RIGHTS OFFER                                                     
Shareholders are referred to the announcements released on SENS on 30 October   
2009 and on 6 November 2009 and the circular to Dawn ordinary shareholders dated
23 November 2009 relating to the Dawn Rights Offer in terms of which a total of 
41,666,666 Dawn ordinary shares in the authorised but unissued share capital of 
Dawn were offered for subscription to qualifying Dawn shareholders, by way of   
renounceable rights, at a subscription price of 720 cents per Dawn ordinary     
share on the basis of 20.98270 rights offer shares for every 100 Dawn ordinary  
shares held at the close of trade on the record date of the Rights Offer.       
The Rights Offer closed on Friday, 11 December 2009 and the results thereof are 
set out in the table below.                                                     
                               Number of    % of      Value of Shares           
                               Shares       Rights    @ 720 cents per           
Offer     Rights Offer              

                                            Shares    Share                     
Rights Offer Shares available   41,666,666   100       R299 999 995.20          
for subscription                                                                


Certificated number of Rights   6,379        0.02      R45 928.80               
Offer Shares taken up                                                           
Uncertificated number of        35,824,770   85.98     R257 938 344.00          
Rights Offer Shares taken up                                                    
Total of Rights Offer Shares    35,831,149             R257 984 272.80          
exercised                                                                       
                                                                                
Agreed take up                  1,583,362    3.80      R11 400 206.40           
                                                                                
Available to the underwriters   4,252,155    10.20     R30 615 516.00           
                                                                                
Total Rights Offer Shares       41,666,666   100       R299 999 995.20          
allocated                                                                       
The Rights Offer was fully underwritten by Coronation Asset Management          
(Proprietary) Limited ("Coronation" or "the Underwriter").                      
The Rights Offer was 89.8% subscribed for and the subscription consideration    
received from public subscriptions is R269 384 479.20.                          
The balance of 10.2% for the subscription consideration of R30 615 516.00 is to 
be received from the Underwriter.                                               
Coronation will settle the issue price of the Rights Offer Shares under its     
underwriting obligations in cash.                                               
Rights Offer Shares will be issued and posted to certificated shareholders in   
certificated form on or about Monday, 14 December 2009.                         
The CSDP or broker accounts in respect of dematerialised shareholders will be   
updated with rights offer shares and debited with any payments due on or about  
Monday, 14 December 2009.                                                       
Johannesburg                                                                    
14 December 2009                                                                
Corporate adviser                                                               
Bishop Corporate Finance (Pty) Ltd                                              
(Registration number 2000/012695/07)                                            
Transaction Sponsor                                                             
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
(Registration number 1970/003711/07)                                            
Sponsor                                                                         
Deloitte & Touche Sponsor Services (Pty) Ltd                                    
(Registration number 1996/000034/07)                                            
Attorneys to Dawn                                                               
Cliffe Dekker Hofmeyr Incorporated                                              
Date: 14/12/2009 10:08:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.