Retirement as Non-Executive Chairman

26 May 2015

Steppe Cement Ltd

Retirement as Non-Executive Chairman

Steppe Cement Ltd ("Steppe Cement" or "The Company") informs that Malcolm Brown will retire on the 28 May 2015 as the non-executive Chairman due to health reasons and he does not intend to stand for re-election in the forthcoming AGM. He has served on the Board for more than 6 years since December 2008 and as a member of the Audit and Remuneration Committees. Despite his retirement, Malcolm Brown remains as a loyal shareholder of Steppe Cement.

The Board, management and staff of Steppe Cement express their gratitude to Malcolm for his excellent contributions and service during a period of significant development and challenge and wish him the best of health.

Steppe Cement is presently searching for an appropriate candidate to replace Malcolm Brown as the Chairman and an announcement will be made in due course upon the appointment of the new Chairman.

The Company's Nominated Adviser is RFC Ambrian Limited.

Contact: Stephen Allen or Oliver Morse, +61 8 9480 2500

Steppe Cement's Broker is Westhouse Securities Limited

Contact Henry Willcocks or Martin Davison on +44 (0)20 7601 6100