AFRICAN DAWN CAPITAL LIMITED - Cautionary Announcement

Cautionary Announcement

African Dawn Capital Limited
Incorporated in the Republic of South Africa
(Registration Number: 1998/020520/06)
JSE share code: ADW
ISIN: ZAE000060703
(the “Company")

CAUTIONARY ANNOUNCEMENT

Shareholders are advised that the Company has entered into negotiations,
which if successfully concluded may have a material effect on the price
of the Company’s securities. Accordingly, shareholders are advised to
exercise caution when dealing in the Company’s securities until a full
announcement is made.

Johannesburg
20 March 2014

Designated Advisor
Sasfin Capital
(a division of Sasfin Bank Limited)

Corporate Adviser
PSG Capital

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