Changes in Leadership - Edcon Limited Edcon Limited (Incorporated in the Republic of South Africa) (Registration No. 2007/003525/06) Company code: BIEDC1 ISIN: ZAG000085168 (“Issuer” or “Edcon”) LEADERSHIP CHANGES AT EDCON Edcon Holdings Limited and Edcon Limited wish to inform bondholders of changes to the leadership of the Edcon team. Chief financial officer Edcon takes pleasure in announcing the appointment of Toon Clerckx as Chief financial officer and a member of the Edcon Holdings and Edcon Limited boards effective 17 February 2014. Toon holds a Masters degree in applied economics from Antwerp University and joins Edcon from Boots Health & Beauty division, a multi-national pharmacy–led health and beauty retailer, where he served as Chief financial officer. Prior to this he worked in several senior finance roles in the USA and Europe including Philips, General Motors Acceptance Corporation (GMAC) Financial Services and Exxon Chemical, which included significant private equity and financial services experience. Toon has served on various boards in both executive and non-executive positions. As part of a coordinated and planned transition, Mark Bower, Deputy CEO and Chief financial officer, is retiring having been with the group for 24 years. Mark joined Edcon as a board member in 1990. In addition to his significant role in finance over the years he has also been responsible for various other portfolios including heading up CNA, the financial services division, logistics, IT, property and loyalty. Mark has been an important and integral part of the senior leadership team of Edcon and he will remain with the company for the next six months as part of the plan to ensure a smooth handover. The board would like to express their appreciation and gratitude for the commitment and invaluable contribution Mark has made to the business. Chief executive – Discount division Edcon is pleased to announce the appointment of Garth Napier as Chief executive of the Discount division effective immediately. Garth obtained an MBA from the Harvard Business School (USA) and was employed as a manager at McKinsey & Co prior to joining Edcon in 2008 as a strategic assignment executive. He was appointed in the Discount division soon after joining and his responsibilities within the division have included strategy, marketing and pricing. He has over the last six years worked intimately as part of the senior management team within the division and is a natural successor to ensure the continued success of the division. Garth replaces Christo Claassen who has resigned. We thank him for his contribution and wish him well in the future. “We are excited about the changes we are making in the team. Toon and Garth bring with them a wealth of experience and fresh energy which will only strengthen our group.” said Jurgen Schreiber, chief executive officer. 10 February 2014 Debt Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 10/02/2014 09:30:00 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.