PSV - PSV Holdings Limited - Appointment of independent non-executive director and change in function of director PSV HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number 1998/004365/06) JSE code: PSV ISIN: ZAE000078705 ("PSV" or "the Company") APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND CHANGE IN FUNCTION OF DIRECTOR The board of directors of PSV ("Board") is pleased to announce the appointment of Ms Portia Molefe as an independent non-executive director to the Board, as the chairperson of the social and ethics committee and as a member of the audit and risk committees, with effect from 2 May 2012. Portia holds a Bachelor of Science (Honours in Economics) from the University of Natal and a Master of Business Administration from the University of Witwatersrand. Portia was the acting Chief Operating Officer of the Department of Trade and Industry and was the Director-General of the Department of Public Enterprises. Portia is currently the Chief Executive Officer of Ubu Investment Holdings Proprietary Limited, which provides strategic advisory services in areas relating to economic infrastructure development. The Board is also pleased to announce that Mr Ralph Patmore, an independent non-executive director of the Board, has been appointed as chairperson of the Board with effect from 2 May 2012. Germiston 2 May 2012 Designated Adviser Merchantec Capital Date: 02/05/2012 15:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.