Voluntary Announcement by Liberty Holdings Ltd Relating to the Disposal of Greenacres Shopping Centre by Liberty Gro Liberty Holdings Limited Registration number 1968/002095/06 Incorporated in the Republic of South Africa Share code: LBH ISIN code: ZAE0000127148 ("Liberty Holdings" or "the Company") VOLUNTARY ANNOUNCEMENT BY LIBERTY HOLDINGS LTD RELATING TO THE DISPOSAL OF GREENACRES SHOPPING CENTRE BY LIBERTY GROUP LTD TO ACUCAP PROPERTIES LTD ("ACUCAP") AND SYCOM PROPERTY FUND (“SYCOM”) Shareholders are advised that Liberty Group Ltd, a wholly?owned division of Liberty Holdings, has entered into a transaction with respect to the disposal of Greenacres shopping centre in an undivided 50% share each to Acucap and Sycom for the disposal consideration of just over R1bn. Anticipated transfer is expected during the first quarter of 2014. The aforementioned companies have made formal announcements today on SENS, therefore additional details are provided for in the respective announcements. This transaction supports Liberty’s strategy of becoming the leading wealth management company on the African continent, as there are numerous initiatives that are currently being considered as part of the Direct Property investment strategy. These will include the upgrade, restructure and acquisition of assets within the Portfolio that management believe will in time benefit investors. The disposal is still subject to competition commission approvals in South Africa. 21 October 2013 Sponsor: Merrill Lynch South Africa (Pty) Ltd Date: 21/10/2013 02:02:00 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.