VESTING OF RIGHTS AND SHARES IN TERMS OF SHARE INCENTIVE SCHEMES AND EXERCISE OF SAR BY DIRECTORS Imperial Holdings Limited (Incorporated in the Republic of South Africa) Registration number: 1946/021048/06 Share code: IPL ISIN: ZAE000067211 ("Imperial") VESTING OF RIGHTS AND SHARES IN TERMS OF SHARE INCENTIVE SCHEMES AND EXERCISE OF SAR BY DIRECTORS In compliance with the Listings Requirements of the JSE Limited the following information is provided: Vesting on 17 September 2012 of Share Appreciation Rights (SAR) at a strike price of R55.32 per SAR and vesting of no consideration matching ordinary shares in terms of Deferred Bonus Plan (DBP) at a price of R190.00 per share. The SAR, which were awarded in 2009, vested upon fulfilment of the related performance conditions. DBP shares were acquired by scheme participants in 2009 on the open market at the ruling price with their after tax bonus. Upon vesting, matching ordinary shares are awarded at no further consideration. Director: OS Arbee Nature and extent of interest in transaction: Direct/beneficial Number of matching DBP shares vested: 12 764 Number of matching DBP shares to be Delivered: 12 764 Total value of transaction: R2 425 160 Number of SAR vested 91 507 Director: HR Brody Nature and extent of interest in transaction: Direct/beneficial Number of matching DBP shares vested: 23 386 Number of matching DBP shares to be delivered (net of tax): 14 031 Total value of transaction: R4 443 340 Number of SAR vested 154 700 Director: MP de Canha Nature and extent of interest in transaction: Direct/beneficial Number of matching DBP shares vested: 14 333 Number of matching DBP shares to be Delivered: 14 333 Total value of transaction: R2 723 270 Number of SAR vested 100 186 Director: RL Hiemstra Nature and extent of interest in transaction: Direct/beneficial Number of matching DBP shares vested: 18 859 Number of matching DBP shares to be delivered (net of tax): 11 315 Total value of transaction: R3 583 210 Number of SAR vested 93 590 Director: AH Mahomed Nature and extent of interest in transaction: Direct/beneficial Number of matching DBP shares vested: 22 443 Number of matching DBP shares to be delivered (net of tax): 13 465 Total value of transaction: R4 264 170 Number of SAR vested: 143 761 Director: M Swanepoel Nature and extent of interest in transaction: Direct/beneficial Number of matching DBP shares vested: 16 267 Number of matching DBP shares to be delivered (net of tax): 9 760 Total value of transaction: R3 090 730 Number of SAR vested: 83 578 Company secretary: RA Venter Nature and extent of interest in transaction: Direct/beneficial Number of matching DBP shares vested: 7 543 Number of matching DBP shares to be delivered (net of tax): 4 525 Total value of transaction: R1 433 170 Number of SAR vested: 55 575 EXERCISE OF SAR BY DIRECTORS Director: MP de Canha Nature and extent of interest in transaction: Direct/beneficial Date: 17 September 2012 Number of SAR exercised: 100 186 Strike price per SAR: R55.32 Exercise price: R193.05 Number of shares to be Delivered: 71 476 Total value of transaction: R13 798 618 Director: M Swanepoel Nature and extent of interest in transaction: Direct/beneficial Date: 18 September 2012 Number of SAR exercised: 83 578 Strike price per SAR: R55.32 Exercise price: R191.45 Number of shares to be Delivered: 35 656 Total value of transaction: R11 377 473 Prior written approval, in terms of paragraph 3.66 of the Listings Requirements, was obtained. Company Secretary RA Venter Sponsor Merrill Lynch SA Proprietary Limited Date: 18 September 2012 Date: 18/09/2012 04:10:00 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.