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 announcement released on SENS on 6 November 2013 advising that certain strategic investors had expressed a desire to acquire a significant stake in African Land and that the dates of the proposed African Land listing and private placement had been amended to accommodate this. Discussions with the strategic investors are ongoing. To ensure that the company is in a position to provide African Land shareholders and invited investors with information on the strategic investors before the offer closes, the offer period is being extended and the date of the listing on the JSE and the Lusaka Stock Exchange (“LuSE”) are being postponed by a further week. 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, 25 November Closing date of the JSE offer under the South African private placement (12:00) Friday, 29 November Closing date of the LuSE offer under the Zambian private placement (12:00) Friday, 29 November Notification of allotments to subscribing invited investors in terms of the South African and Monday, 2 December Zambian private placements Results of South African and Zambian private placements released on SENS and on the Tuesday, 3 December website of the LuSE Results of the South African and Zambian private placement published in the press Wednesday, 4 December Listing of shares and the commencement of trading on the JSE (09:00) Friday, 6 December Listing of shares and the commencement of trading on the LuSE (expected to be 11:00) Friday, 6 December Accounts at CSDP or broker updated and debited in respect of JSE dematerialised Friday, 6 December shareholders Accounts at CSD custodian or broker updated and debited in respect of LuSE dematerialised Friday, 6 December 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. 19 November 2013 Corporate advisor, sole bookrunner in SA and international attorneys and Independent JSE transaction sponsor South Africa and joint bookrunner in advisors as to South African tax Zambia and JSE sponsor Java Capital Norton Rose Fulbright Deloitte LuSE sponsoring broker and joint bookrunner in Zambia Zambian attorneys and advisors as to Zambian tax African Alliance Securities Corpus Legal Practitioners Date: 19/11/2013 05:30:00 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.