Masonite Africa : 18 December 2015 - Restatement Of Headline Earnings Per Share For The Year Ended 31 December 2014

Shareholders are advised that Peter Campbell will be stepping down as chairman of the board after the Annual General Meeting ("AGM") on the 18 March 2008

MASONITE (AFRICA) LIMITED

(Incorporated in the Republic of South Africa) (Registration number 1942/015502/06) Share code: MAS ISIN: ZAE000004289

("Masonite" or "the company")

RESTATEMENT OF HEADLINE EARNINGS PER SHARE FOR THE YEAR ENDED 31 DECEMBER 2014

Shareholders are advised that, following a pro-active monitoring review by the JSE Limited of Masonite's annual financial statements for the year ended 31 December 2014 ("2014 AFS"), a restatement of the headline earnings per share ("HEPS") is required.

The restatement required arises as a result of the unintentional inclusion of the insurance proceeds received related to the plant, machinery and equipment and the unintentional exclusion loss on disposal of plant, machinery and equipment from the explosion at Masonite's mill in Estcourt on 6 June 2014.

31 December 2014 R'000
Headline earnings as reported in the 2014 AFS	20 220
Adjusted for:
Insurance proceeds on plant, machinery and equipment damaged in the explosion	(2 800)
Loss on disposal plant, machinery and equipment damaged in the explosion	572
Tax effect of above adjustments	624
Adjusted headline earnings	18 616
HEPS as reported in the 2014 AFS
Basic (cents)	283
Diluted (cents)	283
Adjusted HEPS
Basic (cents)	261
Diluted (cents)	261

The adjustment represents a 22 cents (7.8%) decrease in HEPS.

Durban

18 December 2015 Sponsor

Nedbank CIB