Gautrain water ingress ruling MURRAY & ROBERTS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 1948/029826/06 JSE Share Code: MUR ADR Code: MURZY ISIN Code: ZAE000073441 (“Murray & Roberts” or the “Company”) GAUTRAIN WATER INGRESS RULING An arbitration award has been made in the dispute between the Gauteng Provincial Government (“Province”) and the Bombela Concession Company (“Bombela”), relating to the interpretation of the specification for the amount of ground water contractually allowed to drain into the Gautrain tunnel over a specified period of time. This has been a complex arbitration process and this complexity is reflected in the Arbitration Tribunal’s (“the Tribunal”) award. Overall, the Tribunal supported Province’s interpretation of the water ingress specification. The Tribunal ruled that, in certain parts of the Gautrain tunnel, the non-compliance with specification could be settled through financial compensation and in other parts of the Gautrain tunnel, additional works (as yet unspecified) will be required in order to meet this specification. Any additional works will be carried out by the Bombela Civil Joint Venture (“BCJV”), of which Murray & Roberts has a 45% shareholding, together with Bouygues (45%) and SPG (10%). The way forward will now be agreed between Bombela, BCJV and the Province. It is important to emphasise that the Tribunal’s award specifically records that “the functionality and safe operation of the system is not threatened by the inflow of water into the tunnel”. Therefore all Gautrain services will continue to operate normally pending decisions regarding the extent and nature of possible additional work, as well as other commercial arrangements to be agreed between Bombela and the Province. Bedfordview 27 November 2013 Sponsor: Deutsche Securities (SA) Proprietary Limited Date: 27/11/2013 04:37:00 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.