Further Cautionary Announcement

SACOIL HOLDINGS LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

JSE Share Code: SCL AIM Share Code: SAC

ISIN: ZAE000127460

("SacOil" or "the Company")

FURTHER CAUTIONARY ANNOUNCEMENT

In compliance with JSE Limited ("JSE") Listings Requirement 3.9 an issuer that has published a cautionary announcement must provide updates thereon in the required manner and within the time limits prescribed.

With reference to the cautionary announcements, the last of which was published on 2 February 2015 on the Stock Exchange News Service of the JSE and on the Regulatory News Service of the London Stock Exchange, SacOil shareholders ("Shareholders") are advised that the Company is still in the process of considering its portfolio rationalisation, which, if successfully concluded, may have a material effect on the price of SacOil ordinary shares ("Shares").

Accordingly, Shareholders are advised to continue to exercise caution when dealing in their Shares until a further announcement is made in this regard.

JSE Sponsor

PSG Capital Proprietary Limited

16 March 2015

For further information please contact:

SacOil Holdings Limited +27 (0)11 463 6884

Damain Matroos

finnCap Limited (Nominated Adviser and +44 (0) 20 7220 0500

broker)

Christopher Raggett

FirstEnergy Capital (Financial Adviser +44 (0) 20 7448 0200

and Joint Broker UK)

Travis Inlow

Instinctif Partners London (UK Investor +44 (0)20 7457 2020

Relations)

David Simonson / Anca Spiridon

Instinctif Partners Johannesburg (SA +27 (0)11 447 3030

Investor Relations)

Nicholas Williams / Tshepo Mophiring