SACOIL HOLDINGS LIMITED

(formerly SA Mineral ResourcesCorporation Limited)

(Incorporated in the Republic of South Africa)

(Registration number1993/000460/06)

Share code: SCL ISIN: ZAE000127460

(“SacOil” or “the company”)

SACOIL AWARDED MAJOR OIL EXPLORATIONBLOCK 3, ALBERTINE GRABEN,

DEMORACTIC REPUBLIC OF THE

CONGO AND FURTHER CAUTIONARY ANNOUNCEMENT

Shareholders of SacOil (“Shareholders”) are referred to the circular to Shareholders dated 24 October 2008 regarding, inter alia, the reversal of its interest in South Africa Congo Oil Company (Proprietary) Limited (“SacOil (Proprietary) Limited”), a company holding oil concession rights in the Democratic Republic of the Congo (“the DRC”).

Shareholders are further more referred to the announcement and circular dated 24 October 2008 regarding the acquisition by SacOil of the entire issued share capital of SacOil (Proprietary) Limited in exchange for the issue of 474 445 714 SacOil shares of which 270 400 000 SacOil shares related to Block 3, Graben Albertine (“Block 3”) and 204 045 714 SacOil shares related to Block 1, Graben Albertine (“Block1”).