Lisitng of consideration shares following internationalisation of investment adviser MAS Real Estate Inc. 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”) LISTING OF CONSIDERATION SHARES FOLLOWING INTERNALISATION OF INVESTMENT ADVISER Further to the announcement issued by the Company on 16 October 2014 in which shareholders were advised that the internalisation of the investment management function had been successfully completed, shareholders are hereby advised that the 9 751 326 consideration shares issued at a price of €1.28188 per share (a ZAR equivalent of R17.95166 per share) to partly settle the purchase price for the acquisition of the investment adviser (the “Consideration Shares”), have been listed today, Thursday, 23 October 2014 on the Euro MTF Market of the Luxembourg Stock Exchange (“LuxSE”) and the JSE. Following the issue of the Consideration Shares, MAS has 289 235 325 shares in issue. MAS has its primary listing on the Euro MTF Market of the LuxSE and a secondary listing on the Alternative Exchange of the JSE. 23 October 2014 For further information please contact: Helen Cullen, Company Secretary, MAS Real Estate Inc. +44 1624 625000 Java Capital, South African corporate advisor and JSE Sponsor +27 11 2830042 Charl Brand, M Partners, Luxembourg +352 263 868 602 Date: 23/10/2014 12:00:00 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.