AVI LIMITED - Cautionary announcement

Cautionary announcement

 AVI Limited
 Incorporated in the Republic of South Africa
 Registration Number: 1944/017201/06
 ISIN: ZAE000049433
 Share Code: AVI
 (“AVI" or “the Group")


CAUTIONARY ANNOUNCEMENT
Shareholders are advised that AVI has received a number of expressions of interest (“EOI”) for certain of the Group’s
business units which may be value enhancing for shareholders. The AVI Board has appointed Rand Merchant Bank
to assist it in evaluating these EOI’s. Accordingly, shareholders should exercise caution when dealing in their AVI
shares until a further announcement is made.

Illovo
26 October 2017


Financial adviser and transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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