B&W INSTRUMENTATION & ELECTRICAL LD - Cautionary announcement

Cautionary announcement

B & W INSTRUMENTATION AND ELECTRICAL LIMITED
Incorporated in the Republic of South Africa
(Registration number 2001/008548/06)
Share code: BWI ISIN: ZAE000098687
(“B&W” or “the Company”)


CAUTIONARY ANNOUNCEMENT


Shareholders are advised that B&W has entered into negotiations regarding a proposed Broad-Based Black
Economic Empowerment transaction, which if successfully concluded, may have a material effect on the
price of the Company’s securities.

Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a
further announcement is made.


Johannesburg
9 November 2012

Designated Adviser
Merchantec Capital

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