EXX - Exxaro Resources Limited - Exercise of rights granted in terms of the

EXX - Exxaro Resources Limited - Exercise of rights granted in terms of the     
Share Appreciation Right Scheme (SAR Scheme) to directors of Exxaro and its     
major subsidiaries                                                              
EXXARO RESOURCES LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
Registration Number:  2000/011076/06                                            
JSE share code:  EXX                                                            
ISIN:  ZAE000084992                                                             
ADR code:  EXXAY                                                                
(Exxaro)                                                                        
EXERCISE OF RIGHTS GRANTED IN TERMS OF THE SHARE APPRECIATION RIGHT SCHEME      
(SAR Scheme) TO DIRECTORS OF EXXARO AND ITS MAJOR SUBSIDIARIES                  
In terms of paragraphs 3.63 and 3.65 of the JSE Listings Requirements           
notice is hereby given that directors of Exxaro and its major subsidiaries      
exercise rights granted in terms of the SAR Scheme, after having received       
clearance to do so in terms of paragraph 3.66 of the JSE Listings               
Requirements.                                                                   
Class of shares:              Ordinary                                          
Nature of transaction:        Exercise of rights granted in terms of the        
SAR Scheme                                         

Nature of interest:           Direct Beneficial                                 
Date of transaction:          03 April 2012                                     
DBP vesting date:             03 April 2019                                     
Vesting period:               7 years                                           
Name:                         MR Walker                                         
Director:                     Exxaro Coal Proprietary Limited                   
Number of shares:             5 044                                             
Strike price per share:       R201.25                                           
Value of shares:              R1,015,105.05                                     
05 April 2012                                                                   
CH WESSELS                                                                      
GROUP COMPANY SECRETARY                                                         
Sponsor                                                                         
Deutsche Securities (SA) (Pty) Ltd                                              
Date: 05/04/2012 14:32:01 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.