AECI LIMITED

                 Incorporated in the Republic of South Africa

                       (Registration No. 1924/002590/06)

                     Share code: AFE ISIN No. ZAE000000220

                                   ("AECI")

                      FULFILLMENT OF CONDITIONS PRECEDENT

Shareholders of AECI ("Shareholders") are referred to the announcement released
on the Securities Exchange News Service of the JSE Limited on Monday, 4
November 2013 which provided details of the disposal by AECI of its surplus
property assets at Modderfontein and its property development business, to
Shanghai Zendai Property Limited ("Shanghai Zendai") ("the Transaction").

Shareholders are advised that the following conditions precedent to the
Transaction have been fulfilled:

 1. the approval in writing of the Competition Commission in South Africa, in
    terms of the Competition Act No. 89 of 1998, as amended;

 2. the passing by the shareholders of Shanghai Zendai of all resolutions
    required to approve the Transaction;

 3. the passing of all the necessary Directors' and shareholders' resolutions
    of the AECI parties to the Transaction; and

 4. Heartland Leasing Proprietary Limited, acting as an agent for AECI, and
    ImproChem Proprietary Limited ("ImproChem") have entered into a lease in
    respect of the ImproChem building in a form satisfactory to both Shanghai
    Zendai and AECI.

The AECI parties to the Transaction have now commenced the process to transfer
properties subject to the Transaction which have an aggregate acquisition price
of R513 million (including VAT) or such lesser amount as agreed by Shanghai
Zendai ("First Tranche"), to the South African subsidiaries of Shanghai Zendai,
namely Zendai Development (South Africa) Proprietary Limited and Zendai
Investment Management (South Africa) Proprietary Limited. AECI anticipates this
transfer should be completed by no later than 31 July 2014, subject to the
relevant extension provisions of the Transaction.  The Transaction will become
effective on transfer of the First Tranche. Shareholders will be updated once
this process has completed.

Woodmead, Sandton

28 January 2014

Investment Bank, Structuring Adviser and Transaction Sponsor

The Standard Bank of South Africa Limited

Legal Adviser

Webber Wentzel