Credit Rating Distribution and Warehousing Network Limited (Incorporated in the Republic of South Africa) (Registration number 1984/008265/06) Share code: DAW & ISIN code: ZAE000018834 (“DAWN” or “the Group”) Credit Rating: Distribution and Warehousing Network Limited “(“DAWN”) is pleased to announce that Standard & Poor’s (“S&P”) has assigned a zaA- long-term and zaA-2 short-term South African National Scale Credit Ratings to the group. The zaA- long-term rating reflects the strong capacity of DAWN to meet its long-term debt obligations on a timely basis, while the zaA-2 short-term rating indicates the satisfactory capacity of the company to meet its debt obligations over the next 12 months. S&P forecasts that DAWN’s revenue will grow over the next few years at a high single digit rate supported by robust pricing, higher government infrastructure spending, limited growth from residential end markets and further international expansion. Further, S&P considers the recoveries in DAWN’s margins to be sustainable following the cost-cutting measures instituted over the last two years and the anticipated improvement in volumes. Dries Ferreira, DAWN’s Chief Financial Officer, is very pleased with the ratings assigned by S&P as these ratings are an acknowledgment of the efforts by the management team over the last few years to strengthen the business and to enhance its financial profile. “The rating has given us control of our funding strategy and will assist Dawn to diversify its funding sources and to lower its cost of funding.” Any forward looking statements have not been reviewed nor reported on by DAWN’s auditors. Johannesburg 11 September 2013 Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited Date: 11/09/2013 05:00:00 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.