Joint cautionary announcement Octodec Investments Limited (Incorporated in the Republic of South Africa) (Registration number 1956/002868/06) Share Code: OCT ISIN Code: ZAE000005104 (“Octodec”) REIT Status approved Premium Properties Limited (Incorporated in the Republic of South Africa) (Registration number 1994/003601/06) Share Code: PMM ISIN Code: ZAE000009254 (“Premium”) REIT Status approved Joint cautionary announcement Linked unitholders (collectively, “Unitholders”) of Octodec and Premium (collectively, “the Companies”) are referred to the joint announcement dated 30 October 2013, wherein Unitholders were advised, that pursuant to the introduction of the Taxation Amendment Act (No. 22 of 2012) containing section 25BB Real Estate Investment Trusts tax dispensation, the boards of directors of Octodec and Premium (the “Boards”) were considering a possible merger of the two companies (the “Proposed Merger”). Given that the Companies have now obtained REIT status, the Companies are in a position to advance the Proposed Merger. Accordingly, Unitholders are advised to exercise caution when dealing in their Octodec and Premium linked units, respectively, until a further announcement regarding the Proposed Merger is made. Johannesburg 7 April 2014 Investment Bank and Sponsor Nedbank Capital Legal adviser Tugendhaft Wapnick Banchetti and Partners Date: 07/04/2014 03:28:00 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.