Changes to the board of directors Basil Read Holdings Limited (Incorporated in the Republic of South Africa) Registration Number 1984/007758/06 Share Code: BSR ISIN: ZAE000029781 ("Basil Read" or "the Company") CHANGES TO THE BOARD OF DIRECTORS Basil Read is pleased to announce the following change to its board of directors (the “Board”) in compliance with paragraph 3.59(a) of the Listings Requirements of the JSE Limited: Mr Paul Cambo Baloyi has been appointed as non-executive director to the Board, with effect from Friday, 2 November 2012. Mr Baloyi has in excess of 26 years of banking experience and has been the Chief Executive Officer and Managing Director of the Development Bank of South Africa (“DBSA”) as well as the Chief Executive Officer of the DBSA Development Fund since July 2006. In addition, he is the Chief Executive Officer of both Talent Holdings (Pty) Limited, a private investment holdings company as well as CAP Leverage (Pty) Limited, a private advisory services company. Previously, Mr Baloyi was Managing Director of Nedbank Africa and a Divisional Director of Nedbank SA. Mr. Baloyi currently serves as non-executive director on the boards of directors of the following companies: – Old Mutual SA Limited; – Old Mutual Holdings (Pty) Limited; – African Capacity Building Foundation; – Bidvest Group Limited; and – Bidvest Bank. Mr Baloyi attended the Advance Management Programme at INSEAD in 2006 and the University of Manchester Business School from where he obtained his MBA. He is also a product of the Senior Executive Programme at the Harvard Business School and the Management Development Programme from University of Stellenbosch. Mr Baloyi holds a Commercial Banking Diploma from the Institute of Bankers, Licentiate in 1989. The Board welcomes Mr Baloyi’s appointment as a strategic step towards the further growth of the Company. Johannesburg 6 November 2012 JSE Sponsor Macquarie First South Capital (Pty) Limited Date: 06/11/2012 05:05:00 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.