Mvela Group net asset value update Mvelaphanda Group Limited (Incorporated in the Republic of South Africa) Registration number: 1995/004153/06 Ordinary share code: MVG Ordinary share ISIN: ZAE000060737 (“Mvela Group” or “the Group”) MVELA GROUP NET ASSET VALUE (“NAV”) UPDATE INTRINSIC NAV AS AT 30 September 2012 ZAR ZAR 30-Sept-12 31-Aug-12 NAV (millions) 1,182.9 1,948 Shares in issue (millions) 521 521 NAV per share 2.27 3.74 Ordinary share price 2.05 3.26 Ordinary share price discount to NAV 9.8% 12.9% Notes 1 All information is unaudited. 2 The intrinsic NAV provides a measure of the underlying value of the Group’s assets and does not indicate when the investments will be realised, nor does it guarantee the value at which the investments will be realised. 3 For the purposes of determining the intrinsic values, listed investments on recognised stock exchanges are valued using quoted bid prices and unlisted investments are shown at directors’ valuation. 4 Based on the net number of shares in issue on 30 September 2012. Portfolio Performance The intrinsic NAV per share decreased due to the unbundling of the shares in Times Media Group Limited (previously Avusa Limited) to Mvela Group Shareholders. The investment portfolio continues to perform in line with expectations. 8 October 2012 Johannesburg Sponsor: PSG Capital Date: 08/10/2012 12:00:00 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.