BASIL READ HOLDINGS LIMITED - Changes to the board of directors

Changes to the board of directors

Basil Read Holdings Limited
(Incorporated in the Republic of South Africa)
Registration Number 1984/007758/06
Share Code: BSR ISIN: ZAE000029781
("Basil Read" or the “Company" the “Group”)

CHANGES TO THE BOARD OF DIRECTORS

Basil Read is pleased to announce the following changes to its board of
directors (the “Board”) in compliance with paragraphs 3.59(a) and (b) of
the Listings Requirements of the JSE Limited:

  – Mr Connie Molusi has been appointed as non-executive director to the
    Board, with effect from today, 14 March 2013, representing the
    Company’s Black Economic Empowerment partner, SIOC CDT Investment
    Holdings Proprietary Limited;
  – Ms Andiswa Ndoni has been appointed as company secretary to Basil
    Read, with effect from today, 14 March 2013, and as a result the
    Company has accepted the resignation of Merchantec (Proprietary)
    Limited as company secretary to Basil Read, with effect from today, 14
    March 2013; and
  – Mr Nigel Townshend is no longer an employee of Basil Read as a result
    of the implementation of the disposal of TWP Holdings Proprietary
    Limited to WorleyParsons RSA Proprietary Limited, and consequently no
    longer qualifies to act as an executive director to the Board with
    effect from Tuesday, 12 March 2013. His resignation will be filed with
    the Companies and Intellectual Property Commission in due course.

Mr Molusi holds a MA (Notre Dame University, Ind. USA, 1993) and B.
Journalism (Rhodes University, 1987). He is currently the chairman of the
SIOC Community Development Trust and the chief executive officer of Kabo
Capital. Mr Molusi has in excess of twenty five years board representation
experience as well as South African business knowledge. Previously, Mr
Molusi held the position of executive director and group chief executive
officer of Johnnic Communications Limited (Johncom) from 2000 to 2006.

Mr Molusi currently serves as director on the boards of the following
companies:
  – African Media and Entertainment Limited (Chairman);
  – Caxton and CTP Publishers and Printers Limited; and
  – Continental Coal Limited.

Ms Ndoni is an attorney of the High Court of South Africa. She holds a
BProc degree, LLB, Post-graduate Diploma in Business Management and a
certificate in Corporate Governance. She was previously the company
secretary and legal counsel for Ubank Limited. She is a member of the
Judicial Services Commission (JSC) and a member of the Competition
Tribunal. Ms Ndoni has 19 years of experience as an attorney, six of which
have been as company secretary.

Basil Read would like to thank Mr Nigel Townshend for his contribution to
the Board and the Group over the past years and wish him well in his future
endeavours.
In addition, the Board welcomes Mr Malusi and Ms Ndoni’s appointments.


Johannesburg
15 March 2013

JSE Sponsor
Macquarie First South Capital (Pty) Limited

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