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 Reference is made to the announcements, the last of which was released on 19 February 2014, regarding the Company’s private placement. Given the high levels of interest, the MAS management team is continuing to meet and engage with key shareholders and potential new investors and is working to finalise the amount by which to increase the number of new shares to be offered and therefore the amount of capital to be raised in terms of the private placement. Final details in this regard will be announced by Tuesday 25 February 2014. As such, the opening of the private placement scheduled for this Monday, 24 February 2014 has been postponed. This increase in the amount of capital to be raised requires an updated notice period in terms of the pre- emptive rights afforded to existing shareholders in terms of the Company’s articles of association. The updated important dates and times in respect of the private placement are as follows: 2014 Last day to trade for existing shareholders to be recorded on the share Friday, 14 February registers to be entitled to participate in the private placement Final issue price released on the LuxSE website and SENS on Wednesday, 19 February Record date for existing shareholders to participate in the private placement Friday, 21 February Confirmation of the maximum number of new shares to be offered and Tuesday, 25 February amount of capital to be raised in terms of the private placement released on the LuxSE website and SENS by Issue of final application forms to applicants by Wednesday, 26 February Opening date of the private placement at 09:00 (CET) on Tuesday, 4 March Closing date of the private placement at 12:00 (CET) on Tuesday, 11 March Results of the private placement released on the LuxSE website and SENS Wednesday, 12 March Notification of allotments by Friday, 14 March Payment of subscription amount and accounts at CSDP, banks or broker Thursday, 20 March updated on or before 08:00 (CET) on Listing of private placement shares on the Euro-MTF and the Altx at Thursday, 20 March commencement of trade on Posting of share certificates in respect of certificated shareholders that Thursday, 20 March subscribed for shares in terms of the private placement on Accounts at CSDP, banks or broker updated in respect of dematerialised Thursday, 20 March shareholders that subscribed for shares in terms of the private placement on(2) Refund of any over-subscriptions for applicants subscribing for applicants Monday, 24 March subscribing for certificated shares (only applicable for applicants on the Luxembourg share register) Notes (1) All references to time are Central European Time. The above dates and times are subject to change. Any such amendment will be announced on the LuxSE website (http://www.bourse.lu/Accueil.jsp) and SENS. (2) Payment in respect of dematerialised shareholders will be on a delivery versus payment basis. 21 February 2014 For further information please contact: Helen Cullen, Company secretary, MAS Real Estate Inc. +44 1624 625000 Java Capital, Corporate advisor, bookrunner and JSE sponsor +27 11 283 0042 Charl Brand, M Partners, Luxembourg legal advisor +352 26 386 8602 Date: 21/02/2014 05:43:00 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.