Results of 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")

Results of general meeting

SacOil shareholders are referred to the notice of general meeting attached to the circular posted to Shareholders on 8 May 2013 ("the Circular"). Capitalised terms in this announcement shall have the same meaning given to them in the Circular, unless the context indicates otherwise.

Shareholders are advised that, at the General Meeting held today, all the ordinary and special resolutions tabled were approved by the requisite majority of votes required from Shareholders present in person or represented by proxy, except for the following which were not approved by the requisite majority:

·; special resolution number 1, relating to the Specific Issue; and

·; special resolution number 2, relating to the remuneration of the non-executive Directors of SacOil.

All of the special resolutions passed at the General Meeting will be filed with, and registered where required, by the Companies and Intellectual Property Commission.

Johannesburg

30 May 2013

JSE Sponsor

Nedbank Capital