Transaction Update

Transaction Update

Watermark Global

1 May 2012

Watermark Global Plc

(“Watermark” or the “Company”)

Transaction Update

Watermark is pleased to advise shareholders that at the General Meeting of Capricorn Investment Holdings Limited (“Capricorn”), which was held on 30 April 2012, all resolutions were passed. The resolutions included all of the shareholder approvals necessary to permit the proposed purchase of Western Utilities Corporation (Pty) Ltd. from Watermark and the change in name of Capricorn to Mine Restoration Investments Limited (“Mine Restoration”). The full text of the announcement regarding the General Meeting will be available from Capricorn’s website www.minerestoration.co.za

Completion of this transaction, which is expected to occur on or around 28 May 2012, is conditional upon, inter alia, the listing of the consideration shares being issued to Watermark. The Mine Restoration shares are due to be listed on the AltX exhange of the Johannesburg Stock Exchange on or around 28 May 2012 under their code “MRI”. Upon completion of the transaction Watermark will receive a total consideration of £4.50 million, comprising £1.81 million in cash and £2.69 million in Mine Restoration shares

Further announcements will be made as appropriate to update shareholders on the progress of the transaction and the expected listing date.

Enquiries

Investor Relations

Charles Zorab Tel: + 44(0) 20 7233 1462

[e-mail]

Nominated Adviser: Cenkos Securities

Ian Soanes Tel: [phone]