MVL
MVL                                                                             
MVL - Mvelaphanda Resources Limited - Apportionment ratio of Northam            
distribution for tax purposes                                                   
Mvelaphanda Resources Limited                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1980/001395/06)                                           
Share Code: MVL                                                                 
ISIN: ZAE000050266                                                              
("Mvela Resources")                                                             
APPORTIONMENT RATIO OF NORTHAM DISTRIBUTION FOR TAX PURPOSES                    
In the 18 February 2011 circular to Mvela Resources shareholders, Mvela         
Resources informed its shareholders of the proposed unbundling and distribution 
of the shares held by Mvela Resources in Northam Platinum Limited ("Northam     
distribution") to Mvela Resources ordinary shareholders in terms of section 46  
of the Income Tax Act, 1962 (Act 58 of 1962). The Northam distribution was      
implemented on 26 April 2011.                                                   
Mvela Resources ordinary shareholders are hereby advised that:                  
*    99.84667% of the Northam distribution constituted a dividend;              
*    0.15333% of the Northam distribution constituted a capital distribution.   
23 May 2011                                                                     
Sponsor:                                                                        
J.P. Morgan Equities Limited                                                    
Date: 23/05/2011 15:05:01 Produced by the JSE SENS Department.                  
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