Quarterly Business Update Sun International Limited (Incorporated in the Republic of South Africa) (Registration number 1967/007528/06) Share code: SUI ISIN: ZAE000097580 Business Update for the Quarter to 30 September 2012 Trading Quarter to 30 September 2012 Change 2011 Rm % Rm Revenue 2 532 11 2 287 Casino 2 037 13 1 808 Rooms 225 1 223 Food,beverage and other 270 5 256 EBITDA 680 19 572 EBITDA margin (%) 26.8 1.8 25.0 The first quarter has seen strong performance in SA Gaming units and Monticello growing revenue by 25%. GrandWest, Carnival City, Sibaya and Boardwalk achieved revenue growth of 8%, 13%, 12% and 8% respectively. Other units achieving exceptionally pleasing growth in revenue were Meropa, Windmill and Lesotho at 18%, 19% and 17% respectively. The Group’s share of the Gauteng and Kwazulu-Natal markets remained stable compared to last year. The Group achieved occupancy of 59%, 3% lower than the same quarter last year at an unchanged average daily rate of R946. The decline in occupancy was due to a 5% increase in the room nights available while the room nights sold increased by 1%. The number of rooms increased predominantly at the Wild Coast as the refurbishment programme was completed in June 2012. International room nights sold have increased in line with arrivals statistics, however local bookings remain challenging due to a decline in groups and conventions. The strong revenue growth and continued focus on costs resulted in the Group achieving a 1.8 percentage point increase in the EBITDA margin to 26.8%. Monticello’s EBITDA margin increased from 19% to 22% reflecting the improvement in revenues. GrandWest’s margin, excluding the impact of the new management fee arrangement, was 0.5% up on last year. Carnival City and Sibaya increased margins by 4.1% and 1.4% respectively.The EBITDA margin for most of the other Gaming units also reflected positive growth. The Resorts and Hotels division has retained its margin on a 6% growth in overall revenues with good cost control. Developments South Africa Boardwalk Despite significant bad weather and flooding in Port Elizabeth the project remains within budget and on schedule for opening of the hotel, conference and spa by mid December 2012. Grayston Hotel The hotel refurbishment project is on schedule and budget for completion in December 2012, with the hotel opening to the public in early January 2013. GrandWest exclusivity There have been no further regulatory developments with regards to GrandWest’s exclusivity and the Group continues engaging with relevant stakeholders. Outlook Growth in gaming revenues is expected to continue into the second quarter. Forward bookings are indicating a recovery in room nights sold for the balance of the year and consequently occupancies for the second quarter are expected to exceed that achieved in the prior year and preceding quarter. The outlook has not been reviewed or reported on by the company’s auditors. 31 October 2012 Sponsor: Investec Bank Limited Johannesburg Date: 31/10/2012 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.