Gautrain delay and disruption claim arbitration: favourable ruling MURRAY & ROBERTS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 1948/029826/06 JSE Share Code: MUR ADR Code: MURZY ISIN: ZAE000073441 (“Murray & Roberts” or “the Company”) GAUTRAIN DELAY AND DISRUPTION CLAIM ARBITRATION: FAVOURABLE RULING As reported in Murray & Roberts’ reviewed interim results announcement of 25 February 2015, the Gautrain Delay & Disruption Claim legal process against the Gauteng Provincial Government is progressing. Due to the complexity of this arbitration, the initial hearings were focussed on addressing the legal interpretation of various clauses in the Gautrain concession agreement. Murray & Roberts is pleased to announce that the rulings are largely in favour of the Bombela Concession Company, which is pursuing the claims on behalf of Bombela Civil Joint Venture (“BCJV”), of which Murray & Roberts has a 45% shareholding, Bouygues (45%) and SPG (10%). The legal basis of the claim has now firmly been established. It is important to note however that the merits and quantum hearings will only be heard as from the first quarter of calendar year 2016 with financial conclusion only likely the following year. The significant rulings from these hearings relate to: * The right to proceed with a claim for additional costs incurred on two cantilever bridges which has now been confirmed; and * The late handover of land, which was determined to be a project event giving rise to an entitlement to an extension of time and compensation for additional costs incurred. These rulings reaffirms Murray & Roberts’ accounting position taken in previous financial years, when part of the claim was recognised as uncertified revenue. The Company will keep the market updated as to further developments on any of its current arbitrations. Bedfordview 8 July 2015 Sponsor: Deutsche Securities (SA) Proprietary Limited Date: 08/07/2015 11:00:00 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.