KAP INDUSTRIAL HOLDINGS LIMITED - Independence Of KAP

Independence Of KAP

KAP Industrial Holdings Limited
Incorporated in the Republic of South Africa)
Registration number: 1978/000181/06
Share Code: KAP
ISIN: ZAE000171963
(“KAP”, “the Company” or “the Group”)

INDEPENDENCE OF KAP

There have been various public announcements recently regarding
Steinhoff International NV (“Steinhoff”).

The board of KAP Industrial Holdings Limited (“KAP”) draw the
attention of shareholders to the fact that while Steinhoff is a major
shareholder in KAP, Steinhoff is not a controlling shareholder in
KAP. In addition, KAP is independently managed, controlled and funded
and as a result should be unaffected by these recent announcements.

Should you require any further information on KAP, please feel free
to contact either Reina de Waal (reina.dewaal@kap.co.za) or Ian Nel
(ian.nel@kap.co.za).

By order of the Board
Company Secretary

6 December 2017
Sponsor: PSG Capital (Pty) Limited

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