MAS REAL ESTATE INC - Update with respect to the private placement

Update with respect to the private placement

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”)


UPDATE WITH RESPECT TO THE PRIVATE PLACEMENT


1.     Reference is made to the announcement released on 10 February 2014 wherein it was announced that
       MAS would be undertaking an offer of up to approximately 96 659 683 new shares of no par value (the
       “private placement shares”) in the share capital of MAS at an indicative issue price of R15.75, or €1.035
       per share, thereby raising approximately R1 522 390 000 or approximately €100 000 000 (before private
       placement expenses) (the “private placement”).

2.     The issue price of the private placement shares is now confirmed at R15.75 per private placement share
       for shares issued on the South African share register and the Euro equivalent of R15.75 per private
       placement share at the closing exchange rate on the closing date of the private placement for shares
       issued on the European share register.

3.     Following positive feedback from key shareholders and interested applicants, the board of MAS is
       considering increasing the number of new shares to be offered and therefore the amount of capital to be
       raised in terms of the private placement.

4.     A further announcement in this regard, including updated important dates and times relating to the private
       placement, if applicable, will be released shortly.


19 February 2014

For further information please contact:

Helen Cullen, Company secretary, MAS Real Estate Inc.               +44 1624625000
Java Capital, Corporate advisor, bookrunner and JSE sponsor         +27 11 283 0042
Charl Brand, M Partners, Luxembourg legal advisor                   +352 26 386 8602

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