Changes to the Board Adcorp Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1974/001804/06) Share Code: ADR ISIN: ZAE000000139 (“Adcorp”) CHANGES TO THE BOARD OF DIRECTORS The Board of Directors (“Board”) is pleased to announce the appointment of Ms Sindisiwe (“Sindi”) Mabaso-Koyana as an Independent Non-Executive Director, and member of the Audit and Risk Committee with effect from Friday 14 September 2012. Sindi qualified as a Chartered Accountant (SA) in June 1995 and was the Group Financial Officer of Passenger Rail Agency of South Africa (PRASA). She is also the founder of African Women Chartered Accountants and a shareholder and Chair of its Investment arm. The Board of Directors is pleased to further announce that Mr Cecil Maswanganyi (MBA) has been appointed as an alternate director to Mr Robinson Ramaite with effect from 11 July 2012. Cecil serves as an Executive Director at Simeka Group and is an experienced executive who has filled various management positions at some of the leading organisations in the private and public sectors. The Board congratulates and welcome the new directors on their appointment. 17 September 2012 Bryanston Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd Date: 17/09/2012 03:30:00 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.