Issue of listing particulars n respect of the Karoo Transaction 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”) ISSUE OF LISTING PARTICULARS IN RESPECT OF THE KAROO TRANSACTION INTRODUCTION Shareholders are referred to the Company's announcements of 3 October 2013 (the “3 October Announcement”) and 20 November 2013 and are advised that MAS has today issued Listing Particulars in respect of the issue of 31 962 365 new MAS shares (the "Consideration Shares") to Attacq Limited (“Attacq”) in order to settle the purchase price for the acquisition of 42 722.256 shares in Karoo Investment Fund S.C.A SICAV-SIF by MAS. ISSUE AND LISTING OF NEW SHARES The Consideration Shares will be listed on the Luxembourg Stock Exchange (“LuxSE”) and the JSE with effect from the start of trading on Friday 20 December 2013 and following the issue of the Consideration Shares, MAS will have 104 158 624 shares in issue. DOCUMENTS AVAILABLE The full Listing Particulars are available on the Company's website at www.masrei.com and a copy can also be obtained by contacting the Company Secretary, whose details are set out below. SHAREHOLDING THRESHOLD In accordance with the LuxSE Listing Rules, shareholders are advised that pursuant to the issue of the Consideration Shares, Attacq’s shareholding in MAS will be in excess of 33.3%. Subject to the Realised Price adjustments described in the 3 October Announcement, it is expected that Attacq will hold 47.2% of the shares in the Company. MAS has its primary listing on the Euro MTF market of the LuxSE and a secondary listing on the Alternative Exchange of the JSE. 19 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: 19/12/2013 03:00:00 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.