Share Repurchase Programme VILLAGE MAIN REEF LIMITED (Incorporated in the Republic of South Africa) (Registration number 1934/005703/06) Share Code: VIL ISIN: ZAE000154761 (the “Company”) SHARE REPURCHASE PROGRAMME Shareholders are advised that the Company has entered into a share repurchase programme to repurchase ordinary shares. The repurchase programme will extend from the date of this announcement to the date of release by the Company of its quarterly and interim financial results for the 3 month and 6 month periods ending 31 December 2012, which is expected to be around the middle of February 2013 (the “repurchase programme period”). In terms of the share repurchase programme, a mandate has been entered into with a broking firm who has the authority to repurchase during the repurchase programme period, up to a maximum of 45,000,000 (forty five million) shares in the Company at a price not greater than 10% above the volume weighted average trading price of the Company’s shares over the five trading days immediately preceding any particular repurchase. Any repurchases so effected will be in accordance with the general authority granted by special resolution of the Company’s shareholders passed at the Company’s annual general meeting held on Friday, 30 November 2012 and in compliance with the relevant provisions of the JSE Limited Listings Requirements and the Companies Act. 28 December 2012 Sponsor Java Capital Date: 28/12/2012 09:00:00 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.