Agreement concluded for acquisition of shares in Karoo I and Karoo II Funds MAS Real Estate Inc. (formerly MAS plc) Registered in the British Virgin Islands Registration number 1750199 Registered as an external company in the Republic of South Africa Registration number 2010/000338/10 SEDOL (XLUX): B96VLJ5 SEDOL (ALTX): B96TSD2 JSE share code: MSP ISIN: VGG5884M1041 (“MAS” or the “Company”) AGREEMENT CONCLUDED FOR ACQUISITION OF SHARES IN KAROO INVESTMENT FUND Shareholders are referred to the Company’s announcement of 3 October 2013 (the “Previous Announcement”) and are advised that MAS has now concluded a formal agreement, effective 18 November 2013, with Attacq Limited (“Attacq”) in terms of which MAS has agreed to acquire Attacq’s shareholding in Karoo Investment Fund S.C.A SICAV-SIF (“Karoo I”) (the "Acquisition"), as detailed in the Previous Announcement. Subsequent to the Previous Announcement, Karoo I has merged with Karoo Investment Fund II S.C.A SICAV-SIF (“Karoo II”) through Karoo I acquiring all of the issued shares of Karoo II. The initial purchase price of the Acquisition is set at EUR 34 199 730,59 (the "Transaction Price") (subject to the adjustment mechanism set out in the Previous Announcement to calculate the Realised Price as defined therein) and will be settled through the issuance of 31 962 365 new shares in MAS (the “Consideration Shares”). The Acquisition including the issue and listing of the Consideration Shares is subject to the receipt of approvals from the LuxSE and the JSE, to the extent required. Following the issue of the Consideration Shares, it is expected that Attacq will hold 47,2% of the issued share capital of MAS. Listing Particulars will be issued in due course in respect of the Acquisition. These are required under the LuxSE Listing Rules as the number of Consideration Shares being issued by MAS is greater than 10% of the total number of MAS shares presently in issue. TOTAL SHARES IN ISSUE On full implementation of the Acquisition and following the issue of the Consideration Shares, MAS will have 104 158 624 shares in issue. MAS has its primary listing on the Euro MTF Market of the Luxembourg Stock Exchange and a secondary listing on the Alternative Exchange of the JSE. 20 November 2013 For further information please contact: Helen Cullen, Company Secretary, MAS Real Estate Inc. +44 1624 625000 Java Capital, JSE Sponsor +27 11 2830042 Charl Brand, M Partners, Luxembourg +352 263868602 Date: 20/11/2013 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.