Fulfilment of conditions precedent 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”) FULFILMENT OF CONDITIONS PRECEDENT Basil Read Shareholders (“Shareholders”) are referred to the results of the general meeting announcement released on the Securities Exchange News Service on Friday, 26 October 2012 and published in the press on Monday, 29 October 2012 whereby Shareholders were advised that the Broad Based Black Economic Empowerment transaction between the Company and SIOC CDT Investments Holdings Proprietary Limited (“SIOC”) (“the Transaction”) was approved by the requisite majority of Shareholders and that the Transaction was still subject to certain remaining conditions precedent. Shareholders are hereby advised that all the remaining conditions precedent to the Transaction have been timeously fulfilled and that the Transaction is now unconditional. Johannesburg 16 November 2012 Corporate Advisor to Basil Read: Deloitte & Touche Corporate Finance Lead and Transaction Sponsor to Basil Read: Deloitte & Touche Sponsor Services (Pty) Limited Sponsor to Basil Read: Macquarie First South Capital (Pty) Limited Attorneys to Basil Read: Werksmans & Ramsay Webber Inc. Independent expert: BDO Corporate Finance (Pty) Limited Reporting accountants and auditors: PwC Inc. Corporate Advisor and Fund Manager to SIOC: Arkein Capital Partners Investment Bank and Corporate Advisor to SIOC: Nedbank Capital Attorneys to SIOC: Schindlers Attorneys, Notaries & Conveyancers Date: 16/11/2012 10:36:00 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.