Acceptance Of Allocated Share Appreciation Rights In Terms Of The Kelly Group Limited Share Appreciation Plan KELLY GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number 1999/026249/06) Share code: KEL ISIN: ZAE000093373 ACCEPTANCE OF ALLOCATED SHARE APPRECIATION RIGHTS IN TERMS OF THE KELLY GROUP LIMITED SHARE APPRECIATION PLAN In compliance with the JSE Limited Listings Requirements, the following information is disclosed: Director : GJ Tindall Company : Kelly Group Limited Date of allocation : 4 December 2013 Date of acceptance : 5 December 2013 Nature of transaction : Off-market acceptance of allocation of Share Appreciation Rights (“SARs”) made in terms of the Kelly Group Limited Share Appreciation Plan Class of securities : SARs in respect of ordinary shares Number of SARs allocated : 800,000 Allocation strike price : R1.74 Periods of exercise and vesting : 1/3 on or after 2nd anniversary of allocation date 1/3 on or after 3rd anniversary of allocation date Final 1/3 on or after 4th anniversary of allocation date Total value of transaction : R1,392,000 Director’s interest : Direct beneficial Clearance obtained : Yes Director : L Wilson Company : Kelly Group Limited Date of allocation : 4 December 2013 Date of acceptance : 5 December 2013 Nature of transaction : Off-market acceptance of allocation of SARs made in terms of the Kelly Group Limited Share Appreciation Plan Class of securities : SARs in respect of ordinary shares Number of SARs allocated : 500,000 Allocation strike price : R1.74 Periods of exercise and vesting : 1/3 on or after 2nd anniversary of allocation date 1/3 on or after 3rd anniversary of allocation date Final 1/3 on or after 4th anniversary of allocation date Total value of transaction : R870,000 Director’s interest : Direct beneficial Clearance obtained : Yes Sandton 5 December 2013 Sponsor PSG Capital Date: 05/12/2013 03:13:00 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.