M & S HOLDINGS LIMITED - Renewal of cautionary announcement

Renewal of cautionary announcement

M&S Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2006/011359/06)
Share code: MSA
ISIN code: ZAE000165411
("M&S" or "the Company")

RENEWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the cautionary announcement dated 21 June 2013 and
the renewal of cautionary announcement 5 August 2013, wherein shareholders were
advised that the Company is at an advanced stage of finalising formal agreements
with BDM Holdings Proprietary Limited (“BDM”) regarding a proposed transaction in
terms whereof the Company will acquire BDM and its subsidiaries (“the
Transaction”).

Shareholders are advised to continue exercising caution when trading in their M&S
shares until a further more detailed announcement is made by the Company
regarding the Transaction, including the pro forma financial effects of the proposed
Transaction on the financial position of the Company.

Johannesburg
20 September 2013

Transaction and corporate adviser: PSG Capital

Designated Advisor:
Sasfin Capital (a division of Sasfin Bank Limited)

Date: 20/09/2013 12:17:00 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.