Update regarding the acquisition of minority interests of two subsidiaries and the circular to shareholders CONVERGENET HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number 1998/015580/06) Share code: CVN ISIN: ZAE000102067 (“ConvergeNet” or “the Company”) UPDATE ANNOUNCEMENT REGARING THE ACQUISITION OF MINORITY INTERESTS OF TWO SUBSIDIARIES AND THE CIRCULAR TO SHAREHOLDERS Shareholders are referred to the detailed terms announcement released on SENS on 23 November 2012 with regards to the acquisition of the remaining minority interests in its two largest subsidiary companies namely, a 25% interest in Sizwe and a 26% interest in Contract Kitting (the “corporate actions”). In terms of the JSE Listings Requirements, the circular detailing the terms of the corporate actions, the fairness opinions prepared by an independent expert, a notice of the General Meeting and a form of proxy must be posted to shareholders within 28 days from the date of the detailed SENS announcement. However, due to the December slow down certain delays have taken place and the circular is still in a process of being approved by the JSE. Accordingly, the circular to shareholders is expected to be posted on or about 8 February 2013. A further announcement will be published once the circular has been posted. Johannesburg 25 January 2013 Corporate adviser: AfrAsia Corporate Finance (Pty) Ltd Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd Date: 25/01/2013 09:13:00 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.