Dealing in securities by a director MMI HOLDINGS LIMITED Incorporated in the Republic of South Africa) (Registration number: 2000/031756/06) ISIN Code: ZAE000149902 Share Code: (JSE) MMI Share Code: (NSX) MIM DEALINGS IN SECURITIES BY A DIRECTOR In compliance with the JSE Listings Requirements, the following information is disclosed: Director: Johan Petrus Burger Company: MMI Holdings Limited Date of Transaction: 17 September 2012 Nature of Transaction: On market sale of ordinary shares arising from FirstRand Limited ("FSR") Forfeitable Share Plan ("FSP") award. Class of Securities: FSP in respect of ordinary shares Number of FSP's constituting ordinary award : 100 672 Price of original award : R16.13 Award Date: 13 December 2010 Vesting Date : 15 September 2012 Sale price : R20.54 Total value of the transaction: R2 067 994 Director's Interest : Direct Beneficial Clearance obtained : Yes On 16 September 2009, Mr Burger was made an award of FSR FSP's in respect of FSR ordinary shares in terms of the FirstRand Limited Forfeitable Share Plan 2009. Subsequent thereto, on 13 December 2010 following the Momentum Group Limited/MMI merger which was settled by means of an exchange of shares, this award of MMI ordinary shares accrued to him when FSR's interest in Metropolitan Holdings Limited was unbundled to FSR ordinary shareholders. The restriction on the FSR FSP's was lifted on 17 September 2012. Mr Burger, an executive of FSR has chosen to take delivery of the FSR ordinary shares, underlying the FSP, and has elected to sell the MMI ordinary shares. The proceeds will be utilised, in part, to settle the PAYE liability incurred on the transaction. CENTURION 19 September 2012 Sponsor in South Africa Merrill Lynch South Africa (Pty) Limited Sponsor in Namibia Simonis Storm Securities (Pty) Limited Date: 19/09/2012 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.