RAR - Rare - Changes to the Board Of Directors and Company Secretary

RAR - Rare - Changes to the Board Of Directors and Company Secretary            
RARE HOLDINGS LIMITED                                                           
(Incorporated in the Republic of South Africa)                                  
Registration Number:  2002/025247/06                                            
Share Code:  RAR    ISIN:  ZAE000092714                                         
("Rare" or "the Company")                                                       
CHANGES TO THE BOARD OF DIRECTORS AND COMPANY SECRETARY                         
1.   In compliance with paragraph 3.59(a) and 3.59(b) of the Listings           
    Requirements of the JSE Limited, shareholders are hereby informed of the    
    following changes to the Board of Directors of Rare ("the Board"):          
    1.1  The resignation of Mr. Donald Mzolisa Jones Ncube ("Don") as non-      
executive chairman of the Board with effect from 23 August 2011. The   
         Board would like to thank Don for his valued contribution to the       
         Company during his tenure and wishes him well in his future            
         endeavours;                                                            
1.2  The appointment of Dr. Marthinus Theunis Lategan ("Theunie") as non-   
         executive director and chairman of the Board with effect from 24       
         August 2011. Theunie obtained a B Accountancy Honours, Masters of      
         Commerce and Doctorate of Commerce degrees as well as a Higher Diploma 
in Banking.  He qualified as a chartered accountant and served as a    
         partner with PWC specialising in taxation. His prior experience also   
         includes positions as general manager at Rand Merchant Bank, Chief     
         Executive Officer of First National Bank Corporate Division and senior 
executive of the FirstRand Group. He served on numerous boards,        
         including McCarthy Motor Group, Profurn, Relyant Retail and SA Rugby.  
         He currently serves on the Council of University of Witwatersrand and  
         pursues various private interests.                                     


    1.3  The appointment of Mr. Thembinkosi Siyolo ("Themba") as independent    
         non-executive director to the Board with effect from 24 August 2011.   
         Themba obtained a Sales Diploma from the Ashridge Business School, a   
SEP from the University of Witwatersrand as well as an IRDP from the   
         Stellenbosch Business School. He currently serves as an executive      
         director of PG Bison Ltd whilst his previous board positions include   
         that of Sanlam Collective Investments and Emergent Office Furniture.   
1.4  The appointment of Mr. Stefanus Johannes Du Toit Potgieter ("Stefan")  
         as non-executive director to the Board with effect from 24 August      
         2011. Stefan obtained his B.Accounting Hons degree in 2004 from the    
         University of Stellenbosch and was admitted as a qualified chartered   
accountant in 2007. His prior experience includes positions as         
         financial director of multiple privately held companies across a wide  
         array of businesses including Mayfair Speculators (Pty) Ltd and        
         Stafric Investment and Management Services (Pty) Ltd.                  
1.5  The appointment of Mr. Renier Viljoen as Company Secretary with effect 
         from Wednesday 24 August 2011. Renier obtained his B.Accounting Hons   
         degree in 2006 from the University of Stellenbosch.  He served his     
         articles at Greenwoods Chartered Accountants in Cape Town whereafter   
he became financial manager of a private company and joined Rare       
         during July 2011 as group accountant. The appointment of Renier will   
         allow Mr. Pierre Willemse to focus his efforts as full time Financial  
         Director of Rare.                                                      
2.   The Board wishes to welcome Theunie, Stefan, Themba and Renier and looks   
    forward to their contributions to the Company.                              
Johannesburg                                                                    
25 August 2011                                                                  
Designated advisor:  PSG Capital (Proprietary) Limited                          
Date: 25/08/2011 15:26:01 Supplied by www.sharenet.co.za                     
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