Changes to dates and times of the African Land listing and private placement African Land Investments Limited (Incorporated in the Republic of South Africa) (Registration number 2013/068973/06) JSE share code: ALI ISIN: ZAE000178885 (Approved as a REIT by the JSE) (“African Land” or “the company” or “Afland”) CHANGES TO DATES AND TIMES OF THE AFRICAN LAND LISTING AND PRIVATE PLACEMENT 1. Introduction African Land shareholders and invited investors are referred to the abridged prospectus and salient dates announcement released on SENS on 31 October 2013 providing details on the proposed African Land listings and private placement. Certain strategic investors have expressed a desire to acquire a significant stake in African Land through the private placement. To accommodate this, the offer period is being extended and the date of the JSE listing postponed. The postponement of the JSE listing date will result in the date of the primary listing on the JSE coinciding with the anticipated date of the secondary listing of African Land on the Lusaka Stock Exchange. A further announcement will be published before the closing date of the offer providing information on the strategic investors. 2. Revised dates and times of the offer and other salient dates 2013 Opening date of the LuSE offer under the Zambian private placement (09:00) Monday, 18 November Closing date of the JSE offer under the South African private placement (12:00) Friday, 22 November Closing date of the LuSE offer under the Zambian private placement (12:00) Friday, 22 November Notification of allotments to subscribing invited investors in terms of the South African and Monday, 25 November Zambian private placements Results of South African and Zambian private placements released on SENS and on the Tuesday, 26 November website of the LuSE Results of the South African and Zambian private placement published in the press Wednesday, 27 November Listing of shares and the commencement of trading on the JSE (09:00) Friday, 29 November Listing of shares and the commencement of trading on the LuSE (expected to be 11:00) Friday, 29 November Accounts at CSDP or broker updated and debited in respect of JSE dematerialised Friday, 29 November shareholders Accounts at CSD custodian or broker updated and debited in respect of LuSE dematerialised Friday, 29 November shareholders The above dates and times are South African dates and times and are subject to amendment. Any such amendment will be released on SENS and published in the press and published on the website of the LuSE. 6 November 2013 Corporate advisor, sole bookrunner Independent reporting accountants and SA and international attorneys and in South Africa and joint auditors advisors as to South African tax bookrunner in Zambia and JSE sponsor Independent JSE transaction Zambian attorneys and advisors as to Independent property valuer sponsor Zambian tax LuSE sponsoring broker and joint bookrunner in Zambia Date: 06/11/2013 05:17:00 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.