Notice of Annual General Meeting

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")

31 August 2012

Johannesburg

No Change Statement and Notice of Annual General Meeting

1. No Change Statement

SacOil shareholders ("Shareholders") are advised that the SacOil audited Group and Company annual financial statements, contain no modifications to the Reviewed Provisional Results for the year ended 29 February 2012 which were released on the Stock Exchange News Service of the JSE Limited and on the Regulatory News Service of the London Stock Exchangeon 31 May 2012. The Integrated Annual Report together with the notice of Annual General Meeting ("AGM") has been posted to Shareholders today.

2. Notice of AGM

Notice is hereby given that the AGM of Shareholders will be held on Friday, 30 November 2012 at 10:00am at 2nd Floor, The Gabba Building, Dimension Data Campus, 57 Sloane Street, Bryanston, 2021 to conduct the business as stated in the notice of AGM.

Shareholders are further advised that electronic copies of the Integrated Annual Report will be available for downloading by close of business today on SacOil's website, www.sacoilholdings.com. Upon enquiry, a printed version may be requested from the Company at [email protected].

Shareholders are further advised as to the below salient dates:

Last date to trade to be eligible to vote: Friday, 16 November 2012.

Record date to be eligible to vote: Friday, 23 November 2012.

Last date for lodging forms of proxy: Wednesday, 28 November 2012 at 10h00.

Date of the AGM: Friday, 30 November 2012 at 10h00.

ENDS

JSE Sponsor

Nedbank Capital