Distribution and Dividend Policy

Massmart’s dividend policy is to declare and pay an interim and final cash dividend representing a 1,7 times dividend cover unless circumstances dictate otherwise. Despite the slightly lower headline earnings and this policy, the Board has decided to maintain this year’s dividend at the same level as last year.

Notice is hereby given that an interim cash dividend of 252 cents per share in respect of the period ended 27 December 2009 has been declared payable to the holders of ordinary shares recorded in the books of the company on Friday, 19 March 2010. The last day to trade cum-dividend will therefore be Friday, 12 March 2010 and Massmart shares will trade ex-dividend from Monday, 15 March 2010. Payment of the dividend will be made on Tuesday, 23 March 2010. Share certificates may not be dematerialised or rematerialised between Monday, 15 March 2010 and Friday, 19 March 2010, both days inclusive.

A Thuthukani dividend equivalent to 100% of the Massmart ordinary dividend per share of 252 cents will be paid to the Thuthukani participants on Tuesday, 23 March 2010.

On behalf of the Board

Grant Pattison Guy Hayward
Chief Executive Officer Chief Financial Officer

24 February 2010