Stock Exchange News Service

Acquisition of investment property in Germany

MAS Real Estate Inc.
Registered in the British Virgin Islands
Registration number 1750199
Registered as an external company in the Republic of South Africa
Registration number 2010/000338/10
JSE share code: MSP
ISIN: VGG5884M1041
(“MAS” or the “Company”)



Shareholders are advised that MAS has, through a wholly owned subsidiary, completed the acquisition of a retail and
office park to the south of Frankfurt, Germany (the "property") on 8 January 2015, for an aggregate purchase price
(before acquisition expenses) of EUR 25 600 000 (the “acquisition”).

The purchase price for the acquisition was entirely funded from the proceeds of the capital raising undertaken in
February 2014. The property comprises two retail warehouses let to leading DIY and electronics retailers respectively,
with adjacent vacant office buildings suitable for short-term letting but also offering redevelopment potential. The net
initial yield on total purchase price is 6.8%.


MAS believes that this asset is well-located with strong retail tenants which fits well with the Company's income
strategy and it is expected to deliver an average of 6% core income after costs. Furthermore, there is potential to
enhance the income return and create further value through the redevelopment of the vacant offices. The current
annual rent roll, paid quarterly in advance, is EUR 1 900 000 per annum.

All conditions precedent in respect of the acquisition have been fulfilled.

9 January 2015

For further information please contact:
Helen Cullen, Company Secretary, MAS Real Estate Inc.                                  +44 1624 625 000
Java Capital, South African corporate advisor and JSE Sponsor                          +27 11 283 0042
Charl Brand, M Partners, Luxembourg                                                    +352 263 868 602

Date: 09/01/2015 11:30:00 
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