Changes to reviewed provisional results, posting of annual report and notice of annual general meeting RARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 2002/025247/06 Share Code: RAR ISIN: ZAE000092714 ("the Company" or “RARE”) CHANGES TO THE REVIEWED PROVISIONAL RESULTS, POSTING OF INTEGRATED ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING Changes to the reviewed provisional results and posting of annual integrated report Shareholders are hereby advised that RARE’s 2012 integrated annual report, which includes the annual financial statements for the year ended 30 June 2012, as audited by Greenwoods Chartered Accountants and who’s unmodified audit report is available for inspection at the Company's registered office, is being dispatched to shareholders today. There have been no modifications to the reviewed provisional financial results announced on SENS on 28 September 2012, except for the following adjustments: STATEMENT OF FINANCIAL POSITION Before After R’000 R’000 Change Current assets Inventories 56 959 60 059 3 100 Current liabilities Trade and other payables 112 140 115 240 3 100 STATEMENT OF COMPREHENSIVE INCOME Operating expenses (100 528) (100 022) 506 Loss before taxation (110 142) (109 636) 506 Loss for the year from (117 429) (116 923) 506 continuing operations STATEMENT OF CASH FLOW Cash flow from operating activities Finance costs (8 428) (9 038) (610) Net cash from operating (53 914) (54 524) (610) activities Cash flow from financing activities Proceeds from other financial 231 839 242 431 10 592 liabilities Repayment other financial (179 175) (189 157) (9 982) liabilities Net cash from financing 82 664 83 274 610 activities The changes to the statement of financial position are as a result of stock in transit not being recognised in the provisional result, this does not affect the financial result nor does it affect the net asset value (“NAV”) of the Company. The changes to the statement of comprehensive income relates to a portion of the non distributable reserve being recognised in profit and loss on disposal of the property, this was not reflected in the provisional results. The effect on the NAV as well as the earnings per share is so insignificant that it had no effect on the Companies’ earnings per share (“EPS”) and headline earnings per share (“HEPS”). Furthermore certain reallocations on the statement of cash flow were also made. This was merely a reclassification and had no effect on the NAV nor did it have any effect on the EPS and HEPS. Notice of Annual General Meeting Notice is hereby given that the Annual General Meeting (“AGM”) of RARE shareholders will be held at 10:00 on Thursday, 13 December 2012, at 22 Old Vereeniging Road, Kliprivier, Midvaal, Johannesburg to transact the business as set out in the notice of the Annual General Meeting included the integrated annual report. Johannesburg 14 November 2012 Designated Adviser: PSG Capital Proprietary Limited Date: 14/11/2012 05:03:00 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.