REI - Reinet Investments S.C.A. Depositary Receipts - Net Asset Value of Reinet

REI - Reinet Investments S.C.A. Depositary Receipts - Net Asset Value of Reinet 
fund S.C.A., F.I.S. AS AT 31 March 2012                                         
Reinet Investments S.C.A. Depositary Receipts                                   
issued by Reinet Securities SA                                                  
(Incorporated in Switzerland)                                                   
ISIN: CH0045793657                                                              
Depositary Receipt Code: REI                                                    
COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE                                      
NET ASSET VALUE OF REINET FUND S.C.A., F.I.S. AS AT 31 MARCH 2012               
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 March 2012 as follows:         
Quote                                                                           
Reinet Fund S.C.A., F.I.S. (`the Fund`)                                         
Net asset value statement as at 31 March 2012                                   
As at 31 March 2012, the net asset value (`NAV`) of the Fund amounted to EUR 3  
653.2 million, an increase of EUR 80.6 million from 31 December 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 March 2012. 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 March 2012. 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.                         
16 APRIL 2012                                                                   
Sponsor                                                                         
RAND MERCHANT BANK (a division of FirstRand Bank Limited)                       
Date: 16/04/2012 17:30:01 Supplied by www.sharenet.co.za                     
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