Results of the Odd-Lot Offer and Voluntary Repurchase Offer (“Offers”) MMI Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 2000/031756/06) JSE share code MMI NSX share code MIM ISIN ZAE000149902 Income tax reference number 9752050147 ("MMI" or the "Company") RESULTS OF THE ODD-LOT OFFER AND VOLUNTARY REPURCHASE OFFER (“OFFERS”) MMI shareholders are referred to the terms announcement dated 6 July 2012 wherein shareholders were advised of the price per share in respect of the Offers. The results of the Offers are as follows • 41 715 shares were sold; • 44 868 were retained; and • no election was made in respect of 78 382 shares which were deemed to have been sold. • In addition, shareholders holding 208 434 shares accepted the Voluntary Repurchase Offer and elected to sell their shares. The issued share capital of the Company, including preference shares, as of the implementation date, 23 July 2012, has therefore been reduced by 328 531 shares to 1 604 184 839 shares. Centurion 23 July 2012 Merchant bank and transaction sponsor Rand Merchant Bank (A division of FirstRand Limited) Independent sponsor to MMI Merrill Lynch South Africa Proprietary Limited Independent reporting accountants PricewaterhouseCoopers Inc Legal advisor to MMI Edward Nathan Sonnenbergs Inc. NSX sponsor to MMI Simonis Storm Securities Proprietary Limited Date: 23/07/2012 10:03:00 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.