Cautionary Announcement Kagiso Media Limited (Incorporated in the Republic of South Africa) (Registration number 1957/000036/06) Share code KGM ISIN ZAE 000014007 (“Kagiso Media” or “the company”) CAUTIONARY ANNOUNCEMENT Shareholders are advised that Kagiso Media has made an offer of R335 million to acquire 100% of the shares of Trinergy Brand Connectors Proprietary Limited, 100% of the shares of Experiential Marketing Proprietary Limited and EXP Momentum Limited and indirectly acquire 100% per cent of the shares in Bulls Rugby Holdings Proprietary Limited (which owns 50% of the shares in Blue Bulls Company Proprietary Limited). As part of the assets acquired for such price, Kagiso Media will acquire all shareholder loan claims against such companies for an additional R10m. The offer is conditional on the Takeover Regulation Panel granting an exemption certificate and the transaction is subject to, inter alia, the completion of a sale agreement, regulatory approvals, the necessary approvals by the shareholders and the approval by the Bulls Rugby Union of the change in shareholder. The completion date for the transaction is anticipated to be 31 January 2013. Accordingly, shareholders are advised to exercise caution when dealing in the company’s securities until a further detailed announcement is made. 5 September 2012 Johannesburg Sponsor: Investec Bank Limited Date: 05/09/2012 05:35:00 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.