Dealing in securities by a director

SACOIL HOLDINGS LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

JSE share code: SCL

AIM share code: SAC

ISIN: ZAE0000127460

("SacOil")

Dealing in securities by a director

In terms of paragraph 3.63 - 3.65 of the JSE Limited Listings Requirements, the following information, relating to the dealings in the securities by a director, is disclosed:

Director: Dr Thabo Kgogo

Transaction date: 2 December 2014

Number of share options: 5 850 000

Price per share option: 42.17 cents

Transaction value: R2 466 945

Nature of transaction: Grant and acceptance of share

options in terms of the SacOil

Share Option Scheme (off market)

Vesting periods: one third on or after 2 December

2015;

one third on or after the second

anniversary date being 2 December

2016;

one third on or after the third

anniversary date being 2 December 2017;

Extent of interest: Direct beneficial

Written clearance obtained: Yes

Johannesburg

2 December 2014

Sponsor

PSG Capital Proprietary Limited

For further information please contact:

SacOil Holdings Limited

Tariro Mudzimuirema +27 (0)11 575 7232

PSG Capital +27 (0) 11 032 7400

(Corporate Advisor and Sponsor)

Leonard Eiser

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

Matthew Robinson / Christopher Raggett

FirstEnergy Capital (Joint Broker UK) +44 (0) 20 7448 0200

Majid Shafiq

Travis Inlow