Results of the General Meeting ITALTILE LIMITED (Incorporated in the Republic of South Africa) (Registration number 1955/000558/06) ISIN: ZAE000099123 JSE Share Code: ITE (“Italtile”) CERAMIC INDUSTRIES LIMITED (Incorporated in the Republic of South Africa) ((Registration number 1982/008520/06) ISIN: ZAE000008538 JSE Share Code: CRM (“Ceramic” or “the Company”) Results of the Ceramic general meeting and status of the offer to Ceramic shareholders 1 Introduction Italtile and Ceramic shareholders (“Shareholders”) are referred to the joint announcements published by Ceramic and Italtile on the Securities Exchange News Service of the JSE Limited (“JSE”) on Friday, 31 August 2012 and Monday, 1 October 2012 and to the circular distributed to Ceramic shareholders on Monday, 1 October 2012 (“Circular”). Rallen Proprietary Limited (“Rallen”) and Italtile (“the Offerors”) extended an offer (“the Offer”) to acquire all or part of the ordinary shares held by Ceramic shareholders, other than Rallen, Rolrose Investments Proprietary Limited, Mr GAM Ravazzotti and subsidiaries of Ceramic (“Independent Ceramic Shareholders”), in the issued share capital of Ceramic (“Target Shares”) at a price of R130.00 per Target Share (“Offer Consideration”). The terms of the Offer are set out in the Circular. 2 Results of the General Meeting Shareholders are advised that all of the resolutions proposed at the general meeting of Ceramic shareholders held today, Tuesday, 30 October 2012 (“General Meeting”) were approved by the requisite majority of votes. If the Offer becomes unconditional (the remaining conditions precedent are set out in paragraph 3 below): (i) Ceramic’s ordinary shares will be delisted from the JSE (“the Delisting”); (ii) the rules of the Company’s two management share incentive schemes will be amended to address the impact of the Delisting on the beneficiaries of the schemes; and (iii) the amendments to the terms of the agreements between Ceramic and its black economic empowerment (“BEE”) shareholders will be ratified to address the impact of the Delisting on such BEE shareholders. 3 Implementation of the Offer and the payment of the Offer Consideration The implementation of the Offer and the payment of the Offer Consideration is subject to and is conditional upon the fulfilment or waiver, as the case may be, of the following remaining conditions precedent (“the Remaining Conditions Precedent”): - Independent Ceramic Shareholders validly accepting the Offer in respect of 3 043 924 (15% of Ceramic’s issued share capital) of their Target Shares; and - The issue by the Takeover Regulation Panel of a compliance certificate in relation to the Offer in accordance with section 121(b)(i) of the Companies Act, No. 71 of 2008, as amended. The Offerors have extended the date for the fulfilment of the Remaining Conditions Precedent to 12:00 on Thursday, 7 November 2012. A further announcement in respect of the salient dates and times of the Offer and the Delisting will be published immediately following the fulfilment or waiver of the Remaining Conditions Precedent. Johannesburg 30 October 2012 Sponsor to Italtile Sponsor to Ceramic KPMG Services (Pty) Ltd One Capital Legal advisor to Italtile Legal advisor to Ceramic Webber Wentzel Edward Nathan Sonnenbergs Legal advisor to Rallen Independent expert Eversheds Nodus Capital (Pty) Ltd Corporate advisor to Rallen Rabin & Associates (Pty) Ltd Date: 30/10/2012 04:57:00 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.