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 the past two years.

Notice is hereby given that a final cash dividend of 134 cents per share in respect of the period ended 27 June 2010 has been declared payable to the holders of ordinary shares recorded in the share register of the Company on Friday, 17 September 2010. The last day to trade cum-dividend will therefore be Friday, 10 September 2010 and Massmart shares will trade ex-dividend from Monday, 13 September 2010. Payment of the cash dividend will be made on Monday, 20 September 2010. Share certificates may not be dematerialised or rematerialised between Monday, 13 September 2010 and Friday, 17 September 2010, both days inclusive.

A Thuthukani dividend equivalent to 100% of the Massmart ordinary dividend per share (134 cents) will be paid to the Massmart Thuthukani Empowerment Trust on Monday, 20 September 2010.

On behalf of the Board  
   
Grant Pattison Guy Hayward
Chief Executive Officer Chief Financial Officer
25 August 2010