REI - Reinet Investments S.C.A - Net asset value of Reinet Fund S.C.A.,

REI - Reinet Investments S.C.A - Net asset value of Reinet Fund S.C.A.,         
F.I.S. as at 31 December 2011                                                   
Reinet Investments S.C.A. Depositary Receipts                                   
issued by Reinet Securities SA                                                  
(Incorporated in Switzerland)                                                   
ISIN: CH0045793657                                                              
Depositary Receipt Code: REI                                                    
PRESS RELEASE FOR IMMEDIATE RELEASE                                             
NET ASSET VALUE OF REINET FUND S.C.A., F.I.S. AS AT 31 DECEMBER 2011            
Reinet Investments S.C.A.`s wholly-owned subsidiary, Reinet Fund S.C.A.,        
F.I.S. has today announced its net asset value as at 31 December 2011 as        
follows:                                                                        
Quote                                                                           
Reinet Fund S.C.A., F.I.S.  (`the Fund`)                                        
Net asset value statement as at 31 December 2011                                
As at 31 December 2011, the net asset value (`NAV`) of the Fund amounted to     
Euro 3 572.6 million, an increase of Euro 389.9 million from 30 September       
2011.                                                                           
This valuation reflects the Fund`s holding of 84 303 670 shares in British      
American Tobacco p.l.c., its other investments, cash resources, other assets    
and liabilities. The assets and liabilities have been revalued to their fair    
values as at 31 December 2011. The NAV calculation has not been audited.        
The entire ordinary share capital of the Fund is owned by Reinet Investments    
S.C.A. In addition, 1 000 management shares in the Fund are held by Reinet      
Fund Manager S.A.                                                               
The net asset position of the Fund is a substantial element of the              
consolidated balance sheet of Reinet Investments S.C.A. at 31 December 2011.    
However, the consolidated balance sheet of Reinet Investments S.C.A. will       
reflect other parent company assets and liabilities, including amounts          
payable to or receivable from the Fund. As such, the net asset value of         
Reinet Investments S.C.A. may differ from that of the Fund.                     
Unquote                                                                         
Reinet Investments Manager S.A.                                                 
for and on behalf of Reinet Investments S.C.A.                                  
Reinet Investments S.C.A. is a partnership limited by shares incorporated in    
the Grand Duchy of Luxembourg and having its registered office at 35            
boulevard Prince Henri, L-1724 Luxembourg. It is governed by the Luxembourg     
law on securitisation and in this capacity allows its shareholders to           
participate indirectly in the portfolio of assets held by its wholly-owned      
subsidiary Reinet Fund S.C.A. F.I.S., a specialised investment fund also        
incorporated in Luxembourg. Reinet Investments shares are listed on the         
Luxembourg Stock Exchange, Reinet Investments` primary listing, and Reinet      
Investments South African Depository Receipts are listed in Johannesburg,       
Reinet Investments` secondary listing. Reinet Investments shares are included   
in the `LuxX` index of the principal shares traded on the Luxembourg exchange   
and the Reinet Investments South African Depositary Receipts are included in    
the JSE `Top 40` Share Index.                                                   
16 JANUARY 2012                                                                 
Sponsor                                                                         
RAND MERCHANT BANK (a division of FirstRand Bank Limited)                       
Date: 16/01/2012 07:30:00 Supplied by www.sharenet.co.za                     
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