Director’s dealing in Adcorp securities Adcorp Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1974/001804/06) ("Adcorp”) Share code: ADR ISIN: ZAE000000139 Director’s dealing in Adcorp securities In compliance with paragraphs 3.63 to 3.66 of the JSE Limited Listing Requirements, the following information is disclosed in respect of an off- market exercise of Share Appreciation Rights (SARS) and subsequent cash settlement thereof: Name of director: R L Pike Date of transaction: 8 August 2013 Nature of transaction: Exercise of SARS Number of securities*: nil Type and class of securities issued*: nil Allocated Price: per table Exercise price: per table Total value: R486 500.00 (Exercise price less allocated price multiplied by quantity) Period of vesting: per table Vesting date: per table Strike price: per table Nature of interest: Direct Beneficial Clearance received: Yes Instrument Quantity Allocated Conversion Period Vesting Strike Exercise Price into and of date Price Price issue of vesting ordinary shares* SARS 350 000 32.31 nil 2 years 1 April 32.31 33.70 2009 Total nil *No Adcorp ordinary share were issued. Participant was cash settled. Name of director: PC Swart Date of transaction: 8 August 2013 Nature of transaction: Exercise of SARS Number of securities*: nil Type and class of securities issued*: nil Allocated Price: per table Exercise price: per table Total value: R417 000.00 (Exercise price less allocated price multiplied by quantity) Period of vesting: per table Vesting date: per table Strike price: per table Nature of interest: Direct Beneficial Clearance received: Yes Instrument Quantity Allocated Conversion Period Vesting Strike Exercise Price into and of date Price Price issue of vesting ordinary shares* SARS 300 000 32.31 nil 2 years 1 April 32.31 33.70 2009 Total nil *No Adcorp ordinary share were issued. Participant was cash settled. Name of director: C Bomela Date of transaction: 8 August 2013 Nature of transaction: Exercise of SARS Number of securities*: nil Type and class of securities issued*: nil Allocated Price: per table Exercise price: per table Total value: R208 500.00 (Exercise price less allocated price multiplied by quantity) Period of vesting: per table Vesting date: per table Strike price: per table Nature of interest: Direct Beneficial Clearance received: Yes Instrument Quantity Allocated Conversion Period Vesting Strike Exercise Price into and of date Price price issue of vesting ordinary shares* SARS 150 000 32.31 nil 2 years 1 April 32.31 33.70 2009 Total nil *No Adcorp ordinary share were issued. Participant was cash settled. 13 August 2013 Bryanston Sponsor Deloitte & Touche Sponsor Services (Pty) Ltd Date: 13/08/2013 10:20:00 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.