Update Announcement on the Reverse Listing of Ardor SA Limited and the Various Acquisitions and Cautionary Announcem Ardor SA Limited (formerly Decillion Limited) (Registration number: 1998/011692/06) (Incorporated in the Republic of South Africa) JSE code: DEC ISIN: ZAE000108247 ("Decillion" or "the Company") UPDATE ANNOUNCEMENT ON THE REVERSE LISTING OF ARDOR SA LIMITED AND THE VARIOUS ACQUISITIONS AND CAUTIONARY ANNOUNCEMENT The Company advises that it is still in the process of securing cash from various subscribers in order to provide guarantees to enable the transfer of the various properties to be lodged with the deeds office. Shareholders and investors are reminded that the listing remains subject to the transfer of the minimum portfolio. The salient dates for the issue and listing of the new shares in Ardor SA Limited will be announced once the transfer of the minimum portfolio has been finalised. As previously announced investors and/or shareholders are permitted to continue to subscribe for shares up to the date of the listing of the securities for purposes of the reverse listing. The Company has received substantial interest in excess of the R900 million maximum subscription, with a couple of parties expressing interest in securing a control of Ardor but the board still has to finalise these subscriptions. The Company will keep shareholders informed of progress made, the final results of the subscription and new salient dates. Due to the revival negotiations previously announced and the requirement for the minimum portfolio to be transferred to the Company ahead of listing, shareholders are advised to continue to exercise caution when dealing in their shares until a further announcement is made. Johannesburg 19 November 2012 SPONSOR Arcay Moela Sponsors (Proprietary) Limited Date: 19/11/2012 07:46:00 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.