Resignation of Directors,withdrawal of previous cautionary & salient dates for termination of the listing QUEENSGATE HOTELS AND LEISURE LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/013649/06) Share code: QHL ISIN code: ZAE000113718 (‘Queensgate’ or ‘the Company’) RESIGNATION OF DIRECTORS, WITHDRAWAL OF PREVIOUS CAUTIONARY ANNOUNCEMENTS AND SALIENT DATES FOR THE TERMINATION OF THE LISTING OF THE COMPANY In compliance with section 3.59 of the JSE Listings Requirements, the board of directors announces the resignations of Messrs JC Human, DC Ducasse, KD Morison and MH Weetman, with effect from 23 January 2013. The Company effectively became a shell in 2010 after the granting of a provisional winding-up order of Queensgate Leisure Holdings Proprietary Limited, a wholly owned subsidiary of Queensgate, handed down by the Western Cape High Court on 13 April 2010. Whilst the Company still had some small operations in Queensgate Business Development Proprietary Limited at the time, the then directors of the Company requested the voluntary suspension of trade in the Company’s securities with effect from 15 April 2010. The board would like to advise shareholders that negotiations with a major creditor in terms of a debt conversion agreement were unsuccessful and the Company is thus unable to finalise the acquisitions previously announced. The previous cautionary announcements are thus withdrawn. Accordingly, the Company is unlikely to be able to inject suitable assets in order to qualify for a listing in accordance with the JSE Listings Requirements and the Company has applied to the JSE to terminate the listing of the Company. Salient dates for the termination of the listing are set out below: 2013 Last day to trade (over the counter) 8 February Record date 15 February Termination of listing at commencement of trade 18 February No offer will be made to minorities as a result of the termination of the listing of the Company’s securities on the Johannesburg Stock Exchange. Johannesburg 31 January 2013 Designated Advisor Arcay Moela Sponsors (Pty) Ltd Date: 31/01/2013 05:06:00 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.