Extension Of A Term Debtors Securitisation Funding Programme KELLY GROUP LIMITED Registration number: 1999/026249/06 Share code: KEL ISIN: ZAE000093373 (“Kelly Group” or “the Company” ) EXTENSION OF A TERM DEBTORS SECURITISATION FUNDING PROGRAMME 1. INTRODUCTION The Company is pleased to announce that it has extended its debtors’ securitisation funding programme with Investec Bank Limited (“Investec Bank”), on amended terms (“the Extended Programme’). In terms of the Extended Programme, the Kelly Group has secured up to R150 million of debt funding from Investec Bank. 2. THE EXTENDED PROGRAMME IN SUMMARY 2.1. Pursuant to the Extended Programme, the Kelly Group (including certain subsidiary entities) has sold on a recurring basis its trade debtors to an independently owned special purpose entity, Kelly Corporate Finance RF Proprietary Limited (“Kelly Corporate Finance”). 2.1.1. Kelly Corporate Finance has funded the purchase price paid to the Kelly Group from a R50 million revolving credit note (“RCN”), provided by Investec Bank, and by issuing R100 million of Senior, 18 month secured, non-amortising debentures (“Senior Debentures”) to Investec Bank. The balance of the purchase price has been funded by Kelly Corporate Finance by means of a subordinated loan raised from the Kelly Group in order to over-collateralise the Senior Debentures. 2.1.2. The funding rates are a combination of fixed rates (in respect of the Senior Debentures) and floating rates (in respect of the RCN). 2.1.3. The funding raised extends the Company’s existing debtors’ securitisation funding transaction, which was originally implemented in 2001 and previously extended in 2010, on amended terms. The Extended Programme constitutes a single indivisible transaction, and has been arranged for the Kelly Group by Mettle Specialised Finance. 3. RATIONALE With the Company’s existing term funding scheduled for maturity on 30 April 2013, the Company’s board resolved to extend the maturing funding arrangement for a further period, with additional flexibility to meet its ongoing requirements. The updated debtors’ securitisation funding transaction is the Company’s primary source of debt funding. This arrangement has proved an efficient means of securing funding for the Kelly Group on a sustainable basis. “The Kelly Group’s strongly performing blue chip debtors book (and related cash flows) along with its experienced debtor management team, enabled the Company to secure its anticipated funding requirements at competitive rates, and to expand its funding partnership with Investec Bank”, said Gareth Tindall, Chief Executive Officer. Johannesburg 7 May 2013 Sponsor PSG Capital Date: 07/05/2013 03:14:00 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.