Dealings in securities by a director M&S Holdings Limited (Formerly Top Fix Holdings Limited) Incorporated in the Republic of South Africa Registration number 2006/011359/06 Share code: MSA ISIN code: ZAE000165411 DEALING IN M&S HOLDINGS LIMITED SECURITIES BY AN ASSOCIATE OF A DIRECTOR In compliance with rules 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information is disclosed: NAME OF DIRECTOR N de Waal STATUS:EXECUTIVE/NON-EXECUTIVE Non-Executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATE OF TRANSACTION 9 January 2013 (1-3) 10 January 2013 (4) CENTS PER SHARE 48 (1) 50 (2) 52 (3) 50 (4) NUMBER OF SECURITIES TRANSACTED 2 180 (1) 157 000 (2) 15 000 (3) 112 000 (4) TOTAL RAND VALUE OF SECURITIES R1 046.40 (1) R78 500.00 (2) R7 800.00 (3) R56 000.00 (4) NAME OF ASSOCIATE PSG Private Equity Consortium (RF) Proprietary Limited RELATIONSHIP WITH DIRECTOR Director and shareholder NATURE OF TRANSACTION Acquisition of shares by an associate of the director(On-market transaction) NATURE AND EXTENT OF INTEREST IN Indirect, beneficial THE TRANSACTION CLEARANCE OBTAINED Not required Trading prices on 9 January 2013: High: 52 cents per share Low: 48 cents per share VWAP: 50 cents per share 14 January 2013 Designated adviser Sasfin Capital (a division of Sasfin Bank Limited) Corporate adviser PSG Capital Date: 14/01/2013 03:33:00 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.