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Announcement Of Finalisation Of Information In Respect Of Interim Distribution For Six Months Ended 31 December 2015

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 referred to the distribution declaration announced on Wednesday, 30 March 2016 (the
“Distribution”) and are advised that shareholders on the South African share register who elect to receive the
Distribution by way of a cash payment (the “Cash Distribution”) in lieu of an issue of new ordinary shares of no par
value in MAS (“New Shares”) will receive their Cash Distribution in South African rand converted from euro at the
closing spot exchange rate of EUR1.00 : ZAR17.3170 on Thursday, 7 April 2016. Accordingly, the Distribution of
2.27 euro cents per share will be equal to 39.30959 ZAR cents per share.

The number of New Shares to which shareholders are entitled will be determined with reference to the ratio that
2.27 euro cents per share bears to the relevant share price (the “Ratio Price”). The Ratio Price is a five percent
discount to the five-day volume weighted average price of MAS shares on the JSE at the close of business on
Thursday, 7 April 2016, converted to euro at the closing spot exchange rate of EUR1.00 : ZAR17.3170 on Thursday,
7 April 2016. The Ratio Price applicable to MAS shareholders is 125.97632 euro cents per share. Shareholders on the
South African share register will receive New Shares in the ratio of 1.80193 New Shares for every 100 MAS shares
held by the shareholder at the record date, being Friday, 22 April 2016.

The information provided in this paragraph is only of direct application to shareholders on the South African share
register. The gross local distribution amount is 39.30959 ZAR cents per share for shareholders exempt from paying
South African dividends tax. The net local distribution amount is 33.41315 ZAR cents per share for shareholders liable
to pay the dividend’s tax rate of 15%.

Should all shareholders receive the New Shares, the maximum amount to be capitalised from retained earnings in
order for the New Shares to be fully paid up is EUR 7,845,620.26 and this would include New Shares to be issued as
a result of the accelerated book build announced yesterday.

MAS is dual primary listed on the Main Board of the JSE and the Euro MTF Market of the LuxSE.

8 April 2016

For further information please contact:
Helen Cullen, Company Secretary, MAS Real Estate Inc.                                 +44 1624 625 000
Java Capital, JSE Sponsor                                                             +27 11 722 3050
Andrew Smith, M Partners, Luxembourg                                                  +352 263 868 610

Date: 08/04/2016 11:37:00 
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