AECI LIMITED                                  
                    (Incorporated in the Republic of South Africa)                 
                         (Registration Number 1924/002590/06)                      
                      Share code: AFE       ISIN No. ZAE000000220                  
                               ("AECI" or "the Company")                           

    ACQUISITION OF SECURITIES BY CLIENTS OF ALLAN GRAY PROPRIETARY LIMITED ("ALLAN
    GRAY")

    In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and
    section 3.83(b) of the JSE Listings Requirements, shareholders are advised that
    AECI has received formal notification that clients of Allan Gray have, in
    aggregate, acquired an interest in the ordinary share of the Company, such that
    the total interest in the ordinary shares of the Company held by Allan Gray's
    clients now amounts to 5,0564% of the total issued ordinary shares of the
    Company.

    Woodmead, Sandton
    25 January 2016

    Sponsor:  
    RAND MERCHANT BANK (A division of FirstRand Bank Limited)