Fulfilment of scheme conditions Mvelaserve Limited The Bidvest Group Limited (Incorporated in the Republic of South Africa) (Incorporated in the Republic of South Africa) (Registration number 1999/003610/06) (Registration number 1946/021180/06) Share Code: MVS Share Code: BVT ISIN: ZAE000151353 ISIN: ZAE000117321 (“Mvelaserve”) (“Bidvest”) FULFILMENT OF SCHEME CONDITIONS Shareholders are referred to the joint announcement released on the Securities Exchange News Service of the JSE Limited ("SENS") dated 20 September 2013 which advised shareholders that all resolutions were passed by the requisite majority of Mvelaserve shareholders entitled to vote at the Scheme Meeting convened on the same day to consider resolutions proposing a scheme of arrangement between Mvelaserve and its shareholders in terms of section 114 of the Companies Act, 71 of 2008 ("Scheme"). Further to this, Mvelaserve shareholders are advised that the last 2 (two) remaining conditions to the Scheme have been fulfilled, namely: - the granting of unconditional approval of the Scheme by the Competition Tribunal, which unconditional approval was granted on Wednesday, 23 October 2013; and - the issue of a compliance certificate by the Takeover Regulation Panel. Therefore all conditions precedent to the Scheme, as detailed in the circular issued to Mvelaserve shareholders on 23 August 2013 (“Circular”) have been fulfilled and accordingly the Scheme is now unconditional. In terms of the Scheme, each Mvelaserve shareholder will receive R9.20 in cash for every Mvelaserve share held (“Scheme Consideration”). The expected timetable for the finalisation and implementation of the transaction will remain as published in the Circular: 2013 Last day to trade to participate in the Scheme Consideration Friday, 1 November Suspension of listing of Mvelaserve shares on the JSE Monday, 4 November Record Date on which Mvelaserve shareholders must be recorded in Friday, 8 November the Register to receive the Scheme Consideration Scheme Implementation Date – payment of cash Monday, 11 November Termination of listing of Mvelaserve shares at commencement of trade Tuesday, 12 November on the JSE. Notes: a) All times given in this document are local times in South Africa. b) No dematerialisation or re-materialisation of shares may take place from the business day following the Scheme`s last day to trade. Johannesburg 23 October 2013 For all enquiries, please contact either: Mvelaserve communications advisors: Bidvest communication representative: College Hill David Cleasby Frederic Cornet Financial Director 011 447 3030 The Bidvest Group Limited 011 772 8706 Corporate Advisor and Transaction Sponsor to Mvelaserve: Bridge Capital Advisors (Pty) Ltd Legal Advisor to Mvelaserve: DLA Cliffe Dekker Hofmeyr Inc. Communications Advisors to Mvelaserve: College Hill Investment Bank, Sponsor and Transaction Advisor to Bidvest: Investec Bank Limited Legal Advisor to Bidvest: Edward Nathan Sonnenbergs Date: 23/10/2013 05:42:00 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.