Announcement in terms of paragraph 8.40 of the JSE Limited Listings Requirements Basil Read Holdings Limited (Incorporated in the Republic of South Africa) Registration Number 1984/007758/06 Share Code: BSR ISIN: ZAE000029781 ("Basil Read" or "the Company") ANNOUNCEMENT IN TERMS OF PARAGRAPH 8.40 OF THE JSE LIMITED LISTINGS REQUIREMENTS Shareholders are referred to the reviewed provisional results presentation booklet for the year ended 31 December 2014 (“Results Booklet”) which was presented on Friday, 27 March 2015, and which is available on the Company’s website hosted at www.basilread.co.za, and are advised that the Results Booklet contained profit forecast information as defined in the Listings Requirements of the JSE Limited (“JSE”) as set out below: Outlook 2015 2014 Profit/(loss) after tax R160 million (R820.9 million) Headline earnings/(loss) 120 cents per share (362.08 cents per share) per share The key assumptions that have been used in arriving at these profit forecasts are set out below: - All loss-making contracts have been fully provided for in the 2014 financial year; - Additional work totalling R700 million expected to be awarded and performed during the 2015 financial year; - Total revenue expected of at least R5 billion; - Minimum gross margins of 9% on average; - Overheads of approximately 5.4% of revenue; - Net interest costs of R45 million; - Taxation charge of approximately 28%; - No new shares to be issued during the 2015 financial year; and - No claims and/or delay damages have been included in the determination of profit after tax Shareholders are advised that the forecasted financial information has not been reviewed and reported on by the Company’s Auditors. Johannesburg 31 March 2015 Company Secretary Andiswa T Ndoni JSE Sponsor Grindrod Bank Limited Date: 31/03/2015 08:50:00 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.