Directors dealing in Adcorp securities Adcorp Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1974/001804/06) ("Adcorp”) Share code: ADR ISIN: ZAE000000139 Director’s dealing in Adcorp securities In compliance with paragraphs 3.63 to 3.66 of the JSE Limited Listing Requirements, the following information is disclosed in respect of an off- market exercise of Performance Shares (PFs) and subsequent purchase of Adcorp ordinary shares: Name of director: RL Pike Date of transaction: 12 June 2014 Nature of transaction: Exercise of PFs and subsequent purchase of Adcorp ordinary shares Number of securities: 90 000 Type and class of securities issued: Ordinary shares Allocated Price: per table Total value: R3 150 000.00 Period of vesting: per table Vesting date: per table Purchase price: per table Nature of interest: Direct Beneficial Clearance received: Yes Instrument Quantity Allocated Conversion Period Vesting Purchase Price into of date Price ordinary vesting shares PFs 150 000 27.52 90 000 2 years 22 35.00 February 2014 Total 90 000 Name of director: PC Swart Date of transaction: 12 June 2014 Nature of transaction: Exercise of PFs and subsequent purchase of Adcorp ordinary shares Number of securities: 75 000 Type and class of securities issued: Ordinary shares Allocated Price: per table Total value: R2 625 000.00 Period of vesting: per table Vesting date: per table Purchase price: per table Nature of interest: Direct Beneficial Clearance received: Yes Instrument Quantity Allocated Conversion Period Vesting Purchase Price into of date Price ordinary vesting shares PFs 125 000 27.52 75 000 2 years 22 35.00 February 2014 Total 75 000 Name of director: AM Sher Date of transaction: 12 June 2014 Nature of transaction: Exercise of PFs and subsequent purchase of Adcorp ordinary shares Number of securities: 39 000 Type and class of securities issued: Ordinary shares Allocated Price: per table Total value: R1 365 000.00 Period of vesting: per table Vesting date: per table Purchase price: per table Nature of interest: Direct Beneficial Clearance received: Yes Instrument Quantity Allocated Conversion Period Vesting Purchase Price into of date Price ordinary vesting shares PFs 65 000 27.52 39 000 2 years 22 35.00 February 2014 Total 39 000 . In respect of 20 000 PFs, no Adcorp ordinary shares were issued. Participant was cash settled Name of director: C Bomela Date of transaction: 12 June 2014 Nature of transaction: Exercise of PFs and subsequent purchase of Adcorp ordinary shares Number of securities: 39 000 Type and class of securities issued: Ordinary shares Allocated Price: per table Total value: R1 365 000.00 Period of vesting: per table Vesting date: per table Purchase price: per table Nature of interest: Direct Beneficial Clearance received: Yes Instrument Quantity Allocated Conversion Period Vesting Purchase Price into of date Price ordinary vesting shares Performance 65 000 27.52 39 000 2 years 22 35.00 shares February 2014 Total 39 000 17 June 2014 Bryanston Sponsor Deloitte & Touche Sponsor Services (Pty) Ltd Date: 17/06/2014 01:49:00 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.