Acquisition of investment property in the UK 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”) ACQUISITION OF INVESTMENT PROPERTY IN THE UK INTRODUCTION Shareholders are advised that MAS has, through two wholly owned subsidiaries, completed the acquisition of an industrial warehouse and office park situated close to the town centre of Chippenham, UK (the "property") for a purchase price (before acquisition expenses) of EUR 40 250 000 (the “acquisition”). The purchase price for the acquisition was entirely funded from the proceeds of the capital raising undertaken in February 2014. The property extends to almost 20 hectares of land in total, split over three zones, with zones 1 and 2 comprising 11.7 hectares of industrial, warehouse, office and storage space. Zone 3 is a mix of short-term and vacant industrial and warehouse buildings comprising 7.7 hectares of space. The initial net yield on total purchase price is 4.6%. RATIONALE AND SALIENT TERMS OF THE ACQUISITION MAS believes that this property is very well-located within one mile of the town centre and adjacent to the town's train station. The solid industrial and office tenants, several of which are large multi-jurisdictional businesses, in zones 1 and 2 of the property fit well with the Company's income strategy and the forecast average core income yield is 6.5% from these two zones alone. Zone 3 is suitable for short-term lets but primarily offers strong development potential. This acquisition will become the largest single asset in MAS property portfolio in terms of both size and value and demonstrates the increased profile of the Company in the European commercial property marketplace. The effective date of the acquisition is 15 December 2014 and the current annual rent roll is EUR 2 314 000 per annum. All conditions precedent in respect of the acquisition have been fulfilled. 17 December 2014 For further information please contact: Helen Cullen, Company Secretary, MAS Real Estate Inc. +44 1624 625 000 Java Capital, South African corporate advisor and JSE Sponsor +27 11 283 0042 Charl Brand, M Partners, Luxembourg +352 263 868 602 Date: 17/12/2014 10:00:00 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.