DIRECTOR'S DEALING BSI STEEL Limited (Incorporated in the Republic of South Africa) (Registration number 2001/023164/06) JSE code: BSS ISIN: ZAE000125134 (“BSI” or "the company") DEALING IN SECURITIES BY A DIRECTOR In compliance with the terms of paragraph 3.63 to 3.74 of the Listings Requirements of the JSE Limited, the Company hereby discloses the following director’s dealings in the Company’s shares: Name of director: Mr James R Waller Designation: Executive Director Date of transaction: 23 August 2012 Class of securities: Ordinary shares Price: 60 cents per share Number of securities: 4 313 479 Total value: R 2 588 087.40 Nature of interest: Direct beneficial through the transfer into his own name from the James Rowland Waller Family Trust, of which he is a trustee and beneficiary and which trust is being closed Nature of Acquisition of BSI shares – off transaction: market trade Clearance obtained Yes Name of director: Mr James R Waller Designation: Executive Director Date of transaction: 23 August 2012 Class of securities: Ordinary shares Price: 60 cents per share Number of securities: 949 995 Total value: R 569 997.00 Nature of interest: Indirect beneficial through the transfer into his minor son’s name (Kyle Rowland Waller) from the James Rowland Waller Family Trust, of which JR Waller is a trustee and beneficiary and which trust is being closed Nature of Acquisition of BSI shares – off transaction: market trade Clearance obtained Yes Name of director: Mr James R Waller Designation: Executive Director Date of transaction: 23 August 2012 Class of securities: Ordinary shares Price: 60 cents per share Number of securities: 949 995 Total value: R 569 997.00 Nature of interest: Indirect beneficial through the transfer into his minor daughter’s name (Ella Kirsty Waller) from the James Rowland Waller Family Trust, of which JR Waller is a trustee and beneficiary and which trust is being closed Nature of Acquisition of BSI shares – off transaction: market trade Clearance obtained Yes Johannesburg 27 August 2012 Designated Advisor: Sasfin Capital (A division of Sasfin Bank Limited) Date: 27/08/2012 03:02:00 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.