Disclosure of significant holding of RCL Foods Limited ordinary shares RCL Foods Limited (Incorporated in the Republic of South Africa) (Registration number 1966/004972/06 Share code: RCL ISIN: ZAE000179438 ("RCL Foods" or “the company”) DISCLOSURE OF SIGNIFICANT HOLDING OF RCL FOODS LIMITED ORDINARY SHARES RCL Foods shareholders are referred to the circular issued on Thursday 12 December 2013 advising RCL Foods shareholders of the proposed implementation of the below mentioned transactions. In accordance with the JSE Limited Listings Requirements and Section 122 of the Companies Act 2008, RCL Foods shareholders are advised of the following: Industrial Partnership Investments (Pty) Limited (“IPI”) has notified the company that it has disposed of all of its RCL Foods ordinary shares to TSB Sugar Holdings (Pty) Limited (“TSB”). Accordingly, IPI holds no voting rights in the company. TSB has notified the company that it has acquired 434,875,326 ordinary shares in the company from IPI, representing 69,5% of the voting rights in the company. TSB has also notified the company that it has acquired a further 230,946,882 ordinary shares in the company, issued as consideration for the acquisition by RCL Foods of all of TSB’s shares in TSB Sugar RSA (Pty) Limited and TSB Sugar International (Pty) Limited. Accordingly, TSB’s holding now represents 77,7% of the voting rights in the company. Durban 23 January 2014 Merchant bank and sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 23/01/2014 04:22:00 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.