Results of the Joint Offer by Italtile and Rallen to Independent Ceramic Shareholders ITALTILE LIMITED (Incorporated in the Republic of South Africa) (Registration number 1955/000558/06) ISIN: ZAE000099123 JSE Share Code: ITE (“Italtile”) CERAMIC INDUSTRIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1982/008520/06) ISIN: ZAE000008538 JSE Share Code: CRM (“Ceramic” or “the Company”) Results of the Joint Offer by Italtile and Rallen to Independent Ceramic Shareholders 1 Introduction Italtile and Ceramic shareholders (“Shareholders”) are referred to the joint announcement published on the Securities Exchange News Service of the JSE Limited on Tuesday, 6 November 2012 relating to the joint offer by Rallen Proprietary Limited (“Rallen”) and Italtile (“Joint Offer”) becoming unconditional and incorporating the revised salient times and dates pertaining to the Joint Offer. Full details of the Joint Offer were contained in the circular to Ceramic shareholders dated Monday, 1 October 2012. 2 Results of the Joint Offer Shareholders are advised that the Joint Offer closed at 12:00 on Friday, 23 November 2012 and was validly accepted by Ceramic shareholders, other than Rallen and its subsidiaries, Mr GAM Ravazzotti and Ceramic’s subsidiary companies (“Independent Ceramic Shareholders”), in respect of 5 497 832 of their Ceramic shares (27.1% of Ceramic’s issued share capital). 3 Closure of the Joint Offer Independent Ceramic Shareholders are hereby advised that the Joint Offer has been successfully concluded and is now closed. Ceramic share certificates in the unlisted Ceramic will be posted to Independent Ceramic Shareholders who have elected to retain all or some of their Ceramic shares, at their own risk, on or about Tuesday, 27 November 2012. Johannesburg 26 November 2012 Sponsor to Italtile Sponsor to Ceramic KPMG Services (Pty) Ltd One Capital Legal advisor to Italtile Legal advisor to Ceramic Webber Wentzel Edward Nathan Sonnenbergs Legal advisor to Rallen Independent expert Eversheds Nodus Capital (Pty) Ltd Corporate advisor to Rallen Rabin & Associates Date: 26/11/2012 09:18:00 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.