EXL - Excellerate Holdings Limited - Renewal of cautionary relating to a

EXL - Excellerate Holdings Limited - Renewal of cautionary relating to a        
potential delisting of The Company`s shares from the JSE Limited                
EXCELLERATE HOLDINGS LIMITED                                                    
Incorporated in the Republic of South Africa                                    
(Registration number: 1997/009884/06)                                           
Share code: EXL                                                                 
ISIN: ZAE000026092                                                              
("the company")                                                                 
RENEWAL OF CAUTIONARY RELATING TO A POTENTIAL DELISTING OF THE COMPANY`S SHARES 
FROM THE JSE LIMITED                                                            
Shareholders are referred to the cautionary announcement published on SENS on 20
March 2012 and are advised that the company`s board is considering a delisting  
of the company`s shares from the JSE Limited ("the delisting").                 
The delisting, should it proceed, shall be accompanied by a cash offer to all   
shareholders who wish to monetise their investment (without any shareholder     
being obliged to monetise its investment) in the company. Accordingly all       
shareholders shall be entitled to continue to hold shares in the company post   
the delisting.                                                                  
The company is in the process of engaging with its larger shareholders and has  
to date received irrevocable undertakings from shareholders holding in excess of
60.0% of the company`s shares (excluding treasury shares and shares held within 
the company`s share incentive scheme) to support the delisting at a minimum     
offer price of R1.10 per share.                                                 
Discussions in this regard are ongoing and accordingly shareholders are advised 
to continue exercising caution when dealing in their shares in the company.     
Johannesburg                                                                    
26 April 2012                                                                   
Corporate advisor and lead transaction sponsor                                  
Java Capital                                                                    
Sponsor                                                                         
One Capital                                                                     
Date: 26/04/2012 15:25:01 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.