Cautionary Announcement Adcock Ingram Holdings Limited (Incorporated in the Republic of South Africa) Registration number 2007/016236/06 Share code: AIP ISIN: ZAE000123436 (“Adcock Ingram” or “the Company”) CAUTIONARY ANNOUNCEMENT Shareholders are advised that the board of directors of Adcock Ingram ("the Board") is in receipt of non-binding proposals ("Proposals") regarding potential transactions that would, if implemented, result in an offer being made to Adcock Ingram shareholders to acquire 100% of or a controlling interest in the Company's securities. The Board has previously stated that it will consider any proposal, made in good faith, which could serve to create value for Adcock Ingram shareholders and promote the interests of the Company. In this regard, the Board and management continue to explore all opportunities to create value for Adcock Ingram shareholders whilst remaining focused on executing the Company’s strategic plans. The Board, together with its advisers, are evaluating the Proposals. Shareholders are cautioned that there is no certainty at this stage that the Proposals will lead to a formal transaction either being proposed or concluded. In the interests of transparency and certainty, the Board advises shareholders that no new proposal has been received from The Bidvest Group Limited since its original proposal, submitted to the Board on 22 March 2013, which lapsed on 2 April 2013. Shareholders are advised to exercise caution when dealing in the Company’s securities until a further announcement is made. For media enquiries: Brunswick Tel: +27 11 502 7300 Carol Roos +27 72 690 1230 Marina Bidoli +27 83 253 0478 Midrand 9 May 2013 Sponsor Deutsche Securities (SA) Proprietary Limited Date: 09/05/2013 03:00:00 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.