Shareholders are referred to the SENS announcements published today and on 22 and 23 October 2014.

We advise that following the Labour Court decision today, Marcel Golding has elected not to participate in the scheduled disciplinary hearing and has resigned from his employment from the HCI Group with immediate effect.

Mr Golding has reserved his rights to pursue claims against the group in the future.

HCI advises its shareholders it will defend such claims and has reserved its own rights.

Cape Town
27 October 2014
Sponsor: Investec Bank Limited