ADCORP HOLDINGS LIMITED - Fulfillment of conditions precedent

Fulfillment of conditions precedent

Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share Code: ADR ISIN: ZAE000000139
("Adcorp” or “the Company”)


FULFILLMENT OF CONDITIONS PRECEDENT

Adcorp shareholders (“Shareholders”) are referred to the
announcement by Adcorp of the acquisition of Paxus Australia
Proprietary Limited (“Paxus”) (“the Acquisition”), which was
released on SENS on 12 December 2012 and published in the press
on 13 December 2012.

Shareholders are advised that all of the conditions precedent
and regulatory approvals related to the Acquisition have been
fulfilled and that the Acquisition is now unconditional.


Bryanston

25 January 2013

Corporate Adviser and Transaction Sponsor: Investec Bank Limited

Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited

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