CULLINAN HOLDINGS LIMITED - Changes to the board of directors

Changes to the board of directors

CULLINAN HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1902/001808/06)

Share Code: CUL            ISIN: ZAE000013710
Share Code: CULP           ISIN: ZAE000001947
(“Cullinan” or “the company”)


CHANGES TO THE BOARD OF DIRECTORS


Shareholders are advised that, in accordance with the requirements of King
III, the roles of Chairman and Chief Executive Officer have been separated.

Accordingly, Mr. Michael Tollman, the Chief Executive Officer and Acting
Executive Chairman, will relinquish his role as Acting Executive Chairman and
will be replaced by Mr. Gavin Tollman as Non-executive Chairman with
immediate effect.

By order of the board
Johannesburg
23 December 2013

Sponsor
Arcay Moela Sponsors Proprietary Limited

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