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
shopping centre in Bruchsal in south west Germany (the "property") on 3 March 2015, for a purchase price (before
acquisition expenses) of EUR 20 106 000 (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 three connected retail buildings which are fully let, primarily to leading
supermarket and clothing chains, on leases with between 8 and10 years remaining. The net initial yield on total
purchase price is 6.4%.


The property is located in the heart of the town centre facing onto the main square and includes a public car park.
MAS believes that this prime location in a popular and economically strong region of Germany adds to the overall
strategy of MAS and the solid tenant base fits well with the Company's income strategy. The property is expected to
deliver an average of 6.5% core income after costs.

The current annual rent roll is EUR 1 450 000 per annum.

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

The acquisition is not categorisable under the JSE Listing Requirements. This announcement is voluntary and for
information purposes only.

MAS is listed on the Main Board of the JSE and on the Euro MTF Market of the Luxembourg Stock Exchange.

5 March 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: 05/03/2015 05:00:00 
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