Update re business rescue proceedings of Holdings and further cautionary announcement ALERT STEEL HOLDINGS LIMITED (IN BUSINESS RESCUE) (Incorporated in the Republic of South Africa) (Registration number 2003/005144/06) JSE code: AET ISIN: ZAE000170395 (“Holdings”) Update re business rescue proceedings of Holdings and further cautionary announcement Shareholders are referred to the announcement released on SENS on 13 May 2015 regarding the business rescue proceedings of Holdings. Holdings is still under business rescue. The trading in the shares of Holdings on the JSE Limited will remain suspended. Shareholders are advised that there is currently a section 417 enquiry taking place in Alert Steel (Pty) Limited (in liquidation). The business rescue practitioner of Holdings has lodged a claim on behalf of Holdings in Alert Steel (Pty) Limited (in liquidation) for over R 120 million only to be proven if there is no danger of contribution. The outcome of the section 417 enquiry may have the effect that certain security claims against Alert Steel (Pty) Limited (in liquidation) are set aside, in which case Holdings will share in any concurrent dividend that flows from the liquidation of Alert Steel (Pty) Limited (in liquidation). Shareholders are advised to continue to exercise caution when dealing in the securities of Holdings until a further announcement has been made. 25 August 2015 Pretoria Designated Adviser Exchange Sponsors Date: 25/08/2015 02:40:00 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.