ROLFES HOLDINGS LIMITED

(Registration number 2000/002715/06)

Share Code: RLF & ISIN: ZAE000159836

("Rolfes" or "the Company")

CAUTIONARY ANNOUNCEMENT

Shareholders are advised that the Company has entered into negotiations, which if successfully concluded may have a material effect on the price of the Company`s securities. Accordingly, shareholders are advised to exercise caution when dealing in

the Company`s securities until a further announcement is made.

Johannesburg

11January2013

Sponsor: Grindrod Bank Limited


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