IMP
IMPO                                                                            
IMP - Impala Platinum Holdings Limited - Zimplats Holdings Limited ("Zimplats") 
indigenisation update                                                           
Impala Platinum Holdings Limited                                                
(Incorporated in the Republic of South Africa)                                  
(Registration No. 1957/001979/06)                                               
ISIN: ZAE000083648                                                              
JSE Share Code: IMP                                                             
LSE Share Code: IPLA                                                            
ADR Code: IMPUY                                                                 
("Implats")                                                                     
ZIMPLATS HOLDINGS LIMITED ("ZIMPLATS") INDIGENISATION UPDATE                    
Implats announces further clarification of the agreement reached with the       
Government of Zimbabwe ("Government") on 13 March 2012.  The Government has     
agreed in principle that the new plan presented is compliant with the law and is
acceptable. No agreement has been reached on timing or valuation other than that
the transactions would be at appropriate value. The proposals made by Implats to
the Government in this regard are:-                                             
*    shares in Zimplats representing 10% of the enlarged issued share capital of
    Zimplats will be issued to the Community Trust at the independent valuation 
previously submitted to the Government. Zimplats will provide an interest   
    free loan to the Community Trust to fund the shares and the loan will be    
    repaid from dividends. This stake would be non-contributory.                
*    shares in Zimplats representing a further 10% of the enlarged issued share 
capital of Zimplats will be sold to an employee share ownership trust for   
    the benefit of all full time employees of Zimplats. The shares will be sold 
    at the same independent valuation and Zimplats will provide an interest-    
    bearing loan to the Employee Trust to fund the purchase of the shares.  The 
loan will be repaid from dividends and will be contributory or dilutive.    
It has also been agreed that Zimplats and the Government will explore fair value
compensation in lieu of empowerment credits for the ground released under the   
agreement of 24 May 2006.  It was proposed to Government that on receipt of this
compensation, Zimplats will make available for sale to the National             
Indigenisation and Economic Empowerment Fund ("NIEEF") a 31% fully contributory 
stake in Zimplats for cash at an independently determined fair value at the     
time. Future expansion opportunities will therefore not be impacted.            
Upon the execution of these initiatives, Zimplats will have met all of the      
Government`s indigenisation and empowerment objectives and requirements.        
14 March 2012                                                                   
Johannesburg                                                                    
Sponsor                                                                         
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 14/03/2012 15:43:45 Produced by the JSE SENS Department.                  
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