CLOVER – WAGE NEGOTIATIONS SETTLEMENT CLOVER INDUSTRIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 2003/030429/06) Ordinary Share code: CLR ISIN: ZAE000152377 Preference Share Code: CLRP ISIN: ZAE000152385 ("Clover" or "the Company") CLOVER – WAGE NEGOTIATIONS SETTLEMENT Clover successfully completed wage negotiations, settling on a 8.5% wage increase and a minimum payroll increase of R360 per month (representing a total 10.5% average increase for the lowest paid worker). The industrial actions lead by the Food & Allied Workers Union (FAWU) resulted in disruptions that affected the processing of raw milk and availability of some products mainly in Gauteng and Kwa- Zulu Natal. Clover is working through the backlog to ensure the restocking of these products is completed soonest. Johann Vorster, Clover Chief Executive, said: “We are pleased to have settled the wage dispute today. Clover is of the opinion that the increase of 8.5% and a minimum payroll increase of R360 per month constitutes a fair and reasonable settlement. We will now continue to work closely with our suppliers, business partners, customers and principals to restore a normal situation over the next couple of days.” Johannesburg 23 July 2012 Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 23/07/2012 05:00:00 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.