Dealing in AVI Shares by a Director of a Major Subsidiary AVI Limited Registration Number 1944/017201/06 Share Code: AVI ISIN: ZAE000049433 (“AVI”) DEALING IN AVI SHARES BY A DIRECTOR OF A MAJOR SUBSIDIARY In compliance with Rules 3.63 – 3.74 of the Listings Requirements of the JSE Limited (“the JSE”), the following information is disclosed: Name of director : Keith Phillips Company : National Brands Limited Date of transaction : 2 April 2015 Strike price and exercise price per option : R45.49 Number of ordinary shares : 5 000 Aggregate consideration : R 227 450.00 Class of securities : Options in respect of ordinary shares Nature of transaction : Exercise of options granted in April 2012 Extent of interest : Direct beneficial The above transaction was done off-market. Name of Director : Keith Phillips Company : National Brands Limited Date of transaction : 2 April 2015 Price per unit : R82.55 Number of ordinary shares : 5 000 Aggregate consideration : R 412 750.00 Class of securities : Ordinary shares Nature of transaction : Transfer of shares in terms of the options exercised above Extent of interest : Direct beneficial The above transaction was done off-market. Clearance to deal in these shares was obtained in accordance with AVI’s policy with regard to director’s dealings as well as the Listings Requirements of the JSE. Illovo Sandton 2 April 2015 Sponsor The Standard Bank of South Africa Limited Date: 02/04/2015 11:50:00 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.