Voluntary Announcement: Major Hotel Leases Agreed 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”) MAJOR HOTEL LEASES AGREED INTRODUCTION Shareholders are advised that MAS, which 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, has, through its wholly-owned subsidiary Artisan Investment Projects 10 Limited (“IP 10”), signed agreements for lease (the “Agreements”) with Premier Inn Hotels Limited (“Premier Inn Hotels”) and Premier Inn Ochre Limited (“Premier Inn Ochre”) (collectively, the “Tenants”), under which Agreements the leases are guaranteed by the Whitbread Group plc (“Whitbread”). Premier Inn Hotels and Premier Inn Ochre will occupy two hotels which will be constructed on the large-scale development on the Royal Mile in Edinburgh, formerly known as Caltongate, owned by IP 10. The two hotels will sit next to each other with frontages on to East Market Street, opposite the Edinburgh City Council. They are set to form an integral part of the overall development which includes a pedestrian-friendly urban centre mixing open public spaces with independent retailers, restaurants, and leisure offerings - as well as new homes and offices. RATIONALE Whitbread is a FTSE 100-listed company and the largest hotel, restaurant and coffee operator in the UK. A high quality hotel offering is an integral part of the development of the former Caltongate site and the Agreements are an important first step in the development of the scheme. The construction of the hotels is planned for completion by the end of 2015. The Hub Hotel, a new concept for Whitbread, will be the first of its type outside of London, demonstrating the attractiveness of the central Edinburgh location. SALIENT TERMS AND CONDITIONS PRECEDENT The Agreements are conditional upon the Tenants obtaining a satisfactory premises license and the developer obtaining a satisfactory planning permission. The date for the planning decision by the Edinburgh City Council is currently set for 29 January 2014. This announcement is voluntary and is for information purposes only. 6 December 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: 06/12/2013 05:00:00 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.