Offer By Primedia to Acquire all of the NAIL Ordinary Shares and all the Nail "N" Ordinary Shares New Africa Investments Limited Primedia Proprietary Limited (Incorporated in the Republic of South Africa) (Incorporated in the Republic of South Africa) (Registration number 1993/002467/06) (Registration number 2005/044403/07) Share code: NAI and NAN (“Primedia”) or (“Offeror”) ISIN: ZAE000033338 and ZAE000033346 (“NAIL”) or (“Company”) OFFER BY PRIMEDIA TO ACQUIRE ALL OF THE NAIL ORDINARY SHARES AND ALL OF THE NAIL “N” ORDINARY SHARES WHICH IT DOES NOT ALREADY OWN BECOMES UNCONDITIONAL AS TO ACCEPTANCES 1. INTRODUCTION The shareholders of NAIL are referred to the joint offer circular by Primedia and NAIL dated 29 November 2012, which sets out the terms and conditions of Primedia’s offer to acquire all of the NAIL Ordinary Shares and NAIL “N” Ordinary Shares (collectively the “NAIL Shares”) not already held by it (“Offer Shares”), from the NAIL Ordinary Shareholders and NAIL “N” Ordinary Shareholders (collectively the “NAIL Shareholders”) (the “Offer”). 2. PRIMEDIA’S OFFER UNCONDITIONAL AS TO ACCEPTANCES The NAIL Shareholders are hereby informed that Primedia has declared the Offer unconditional as to acceptances. As at 17:00 on Monday, 3 December 2012, Primedia has been informed that acceptances of the Offer have been tendered from NAIL Shareholders representing at least 894,623 NAIL Ordinary Shares (representing 90.23% of the NAIL Ordinary Shares not held by Primedia), and 4,798,920 NAIL “N” Ordinary Shares (representing 93.60% of NAIL “N” Ordinary Shares not held by Primedia). This represents all of the Offer Shares previously held by Capricorn Capital Partners Investments Proprietary Limited, which had irrevocably and unconditionally undertaken to accept the Offer. Prior to launching the Offer, Primedia already owned 3,150,080 NAIL Ordinary Shares (representing 76.06% of the NAIL Ordinary Shares in issue) and 117,353,859 NAIL “N” Ordinary Shares (representing 95.81% of the NAIL “N” Ordinary Shares in issue). Accordingly, the aggregate of the NAIL Shares already owned by Primedia and those already tendered under the Offer, is at least 4,044,703 Ordinary Shares (representing 97.66% of the NAIL Ordinary Shares in issue) and 122,152,779 NAIL “N” Ordinary Shares (representing 99.73% of the NAIL “N” Ordinary Shares in issue). 3. CLOSING DATE OF THE OFFER The Offer remains open for acceptances and the closing date of the Offer will be at 12:00 on Friday, 18 January 2013. Johannesburg 4 December 2012 Investment Bank Investec Bank Limited Legal Advisor to NAIL and Primedia Edward Nathan Sonnebergs Sponsor to NAIL Investec Bank Limited Date: 04/12/2012 12:15:00 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.