Change in nature of a director's holding HOSKEN CONSOLIDATED INVESTMENTS LIMITED Incorporated in the Republic of South Africa (Registration number 1973/007111/06) Share code: HCI ISIN: ZAE000003257 (“HCI” or “the Company”) CHANGE IN NATURE OF A DIRECTOR’S HOLDING Notice is given, in terms of paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited’s Listing Requirements, of the following transaction in respect of the Company’s shares by a director of a major subsidiary: NAME OF DIRECTOR MJA Golding STATUS Non-executive director of major subsidiary NAME OF MAJOR SUBSIDIARY Tsogo Sun Holdings Limited TYPE OF SECURITIES Ordinary shares DATE OF TRANSACTION 29 March 2016 CENTS PER SHARE 10 300 NUMBER OF SECURITIES TRANSACTED 7 327 217 TOTAL RAND VALUE OF SECURITIES R754 703 351 NATURE OF TRANSACTIONS Transfer of HCI shares held on a direct beneficial basis by Mr Golding to Geomer Investments Proprietary Limited, an associate of Mr Golding (Off market transaction) EXTENT OF DIRECTOR’S INTEREST IN The transfer results in a THE TRANSACTIONS change of interest from direct beneficial to indirect beneficial CONFIRMATION THAT CLEARANCE HAS Yes BEEN GIVEN IN TERMS OF PARAGRAPH 3.66 Cape Town 31 March 2016 Sponsor: Investec Bank Limited Date: 31/03/2016 05:20:00 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.