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Audited Results for the year ended 31 March 2014

NASPERS

NASPERS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1925/001431/06)
("Naspers")
JSE share code: NPN ISIN: ZAE000015889
LSE share code: NPSN ISIN: US 6315121003

Provisional Report

Summary of the audited results of
the Naspers group for the year ended
31 March 2014

What type of business are we
building?
A multinational group of ecommerce and
media platforms.

Commentary
The Naspers group had a lively year with progress in several businesses. The financial results are detailed below, but
in summary we report robust consolidated revenue growth of 26%, driven by both the internet and pay-television
businesses. This growth was fuelled by development spend of R7,7bn - up 79% on last year - devoted particularly to
ecommerce and digital terrestrial television (DTT). As previously cautioned, this expansionary spend had the effect
of limiting core earnings to R8,6bn, approximately the same as last year.

Looking forward, our established businesses should continue to be in the aggregate cash flow positive, profitable
and growing. Our goal is to invest in new ventures that will deliver value over the long term. With this in mind, we
will continue to invest heavily for organic growth and may also acquire new businesses within our fields of focus. Our
belief is that, through a combination of attractive markets and appealing customer product offerings such as online
classifieds, etail and DTT, we have a realistic prospect for growth over the medium term.

Whilst aggressively investing for the long term limits short-term earnings and cash flows, we believe this strategy to
be sound. Our aim is to deliver superior value to our shareholders over time and to contribute to the communities in
which we operate.

FINANCIAL REVIEW
Consolidated revenues grew 26% to R62,7bn, boosted largely by growth in our internet businesses. Also influential
was a rand that depreciated by an average 19% over the period against a basket of our main operating currencies.
Expanding our ecommerce and DTT businesses resulted in development spend accelerating by 79% to R7,7bn
(2013: R4,3bn).

Net interest on borrowings increased to R1,261bn (2013: R636m), due both to the rand depreciation and increased
borrowings utilised to fund acquisitions and growth.

Tencent and Mail.ru reported strong growth. Our share of equity-accounted results includes once-off gains of R2,9bn
flowing from Mail.ru's sale of shares in Facebook and Qiwi, as well as gains from Tencent's merger of some of its
ecommerce businesses with JD.com and the sale of its interest in ChinaVision. These gains, being non-recurring, have
been excluded from core headline earnings.

An impairment charge of R1,6bn has been recognised in other gains/losses and relates mainly to the flash-sale fashion
businesses in our ecommerce segment, such as FashionDays, Brandsclub and Markafoni. These failed to achieve
targets and we impaired goodwill and other intangibles during the first half of the year. In addition, our associate
investment in Abril has been fully written down in the current year and is the main item included in impairment of
equity-accounted investments.

A rather theoretical dilution loss of R852m on our equity-accounted investments was booked, mainly stemming from
Tencent buying back its own shares.

For many years we have held our core headline earnings as the most reliable indicator of sustainable operating
performance. In the past year this measure was marginally higher at R8,6bn - R21,81 per N ordinary share. Free cash
flow for the period was an outflow of R349m - largely due to capex in DTT networks and the accelerated development
spend.

Consolidated balance sheet gearing stands at 23%, excluding transponder leases and non-interest bearing liabilities.

Any forecasts in this provisional report have not been audited, reviewed or reported on by the company's external
auditor.

SEGMENTAL REVIEW
This segmental review includes our consolidated subsidiaries, plus a proportionate consolidation of associated
companies and joint ventures.

Internet
Our internet units showed strong growth. In total, segment revenues are up 65% to R57bn. The ramp-up in
development spend resulted in slower trading profit growth of 8% to R6,6bn. Our internet activities are rapidly
transforming themselves into mobile-focused operations.

Tencent
Performed rather well in a dynamic and highly competitive Chinese market. A shift is occurring in user traffic from
PC to mobile devices, driving substantial changes across different sectors of the Chinese internet industry, including
communications, social networking, online games, media and ecommerce.

Tencent consolidated its leading position in communication and games in China, while strengthening its stance in
ecommerce. Revenue for the year was RMB60bn, up 38%, while non-GAAP profit attributable to shareholders was
19% higher at RMB17,1bn.

Core platforms QQ instant messaging (QQ IM), Qzone (the leading social networking service platform in China) and
Weixin (a next-generation communications service for smartphones) recorded solid growth. At 31 March 2014, QQ IM
had 848m monthly active user accounts and 200m peak concurrent active user accounts; Qzone had 644m monthly
user accounts; Weixin, known as WeChat internationally, had a combined 396m monthly active users and enjoys an
excellent market position in China, evolving from a pure communications service into a multifunctional platform.

In the PC gaming market, Tencent published six of the top ten games in China, while Riot Games' League of Legends
enjoyed growth in international markets. Revenue from online games and social networks also benefited from
smartphone mobile games integrated into the mobile QQ and Weixin platforms.

Two transactions will augment Tencent's search and ecommerce businesses:
- In a strategic partnership with Sohu, Tencent invested in and merged its SoSo search business and certain other
assets with Sogou in return for a 36,5% interest.
- During March 2014, Tencent merged the Paipai consumer-to-consumer (C2C) and Wanggou business-to-consumer
(B2C) marketplace businesses into JD.com in return for a 15% interest. A strategic cooperation agreement was
also finalised, which will see Tencent further support the growth of JD.com.

Mail.ru
Reported good results with growth across all major segments. Revenue for 2013 was RUB27bn, up 30% year on year,
while group aggregate net profit rose 36% to RUB11,4bn.

Mail.ru saw expansion of contextual advertising revenue as it continued to replace general display ads with targeted
advertising. Online games and internet value-added services (IVAS) performed well. Revenue for massive multiplayer
online games grew 41% year on year to RUB6,7bn, with Warface gaining traction in both users and revenue. IVAS
grew 29% year on year to RUB8,7bn. Monthly paying users reached 7,6m. Throughout 2013 numerous products were
updated and new products launched, including cloud-based services.

Ecommerce
Revenues from all our ecommerce activities over the past year grew well and increased 64% to R20,3bn. Ecommerce
is an area of expansion and we incurred development spend here of some R5,6bn. As a consequence, the trading loss
for this segment widened to R5,3bn.

The Allegro marketplace business and some classified and price-comparison businesses delivered improving
profitability. We expanded our online retail operation, which also recorded strong organic expansion.

A focus of attention was online classifieds, where we own and operate sites in some 40 countries in Eastern Europe,
Asia, Africa, Latin America (LatAm) and the Middle East. Talent and execution were improved.

Progress on this front produced 429m daily page views across various classifieds sites, an increase of 200%, with
mobile traffic and engagement lifting. Several markets evidenced higher traction and growth ahead of competitors.
We are stepping up investments to capitalise on this momentum.

Our payments businesses delivered growth. Experienced leadership was introduced in several positions. We hope to
grow this into a meaningful business in coming years.

Our price-comparison business saw growth in revenues. The units across LatAm, Africa, and Central and Eastern
Europe were combined into a global unit.

Pay television
Our pay-television business reported growth in revenues. Subscriber numbers are up by 1,3m households, taking the
base to over 8m homes across 50 countries in sub-Saharan Africa.

Revenues grew by 20% to R36,3bn. Investments in DTT services resulted in trading profits creeping up at a slower
13% to R8,5bn. DTT coverage has been expanded and now covers eight countries and 92 cities.

We continue to invest in our online offering, expanding our services on mobile phones, tablets and computers, and
launched an improved personal video recorder.

Print media
The print media segment experienced a tough year with flat revenues and declining margins. Media24 managed
small revenue growth of 1%, but trading profit declined by 7%. Abril had a poor year, as revenues declined and
restructuring lagged. Our online/mobile media and news efforts have seen audience and engagement growth.

DIVIDEND NUMBER 85
The board recommends that the annual gross dividend be increased by 10% to 425c (previously 385c) per listed
N ordinary share, and 85c (previously 77c) per unlisted A ordinary share. If confirmed by shareholders at the
annual general meeting on 29 August 2014, dividends will be payable to shareholders recorded in the books on
Friday 19 September 2014 and will be paid on Monday 22 September 2014. The last date to trade cum dividend
will be on Friday 12 September 2014 (the shares therefore to trade ex dividend from Monday 15 September 2014).
Share certificates may not be dematerialised or rematerialised between Monday 15 September 2014 and Friday
19 September 2014, both dates inclusive.

The dividend will be declared from income reserves. No STC credits are available for use as part of this declaration.
The dividend will therefore be subject to the dividend tax rate of 15%, yielding a net dividend of 361,25c per listed
N ordinary share and 72,25c per unlisted A ordinary share to those shareholders not exempt from paying dividend
tax. Such dividend tax will amount to 63,75c per listed N ordinary share and 12,75c per unlisted A ordinary share.
The issued ordinary share capital as at 20 June 2014 is 416 812 759 N ordinary shares and 712 131 A ordinary shares.
The company's income tax reference number is 9550138714.

DIRECTORATE
As previously reported, Steve Pacak (financial director) will retire on 30 June 2014, but will remain on the board as a
non-executive director. Basil Sgourdos, presently CFO of Naspers, will succeed him and will be appointed to the board
as financial director effective 1 July 2014.

PREPARATION OF THE PROVISIONAL REPORT
The preparation of the financial results was supervised by our financial director, Steve Pacak, CA(SA). These results
were made public on 23 June 2014.

On behalf of the board

Ton Vosloo Bob van Dijk
Chair Chief executive
Cape Town
23 June 2014

Revenue
Year ended 31 March
2014 2013
Segmental (Restated) %
review R'm R'm change
Internet 57 018 34 587 65
- Tencent 34 256 20 532 67
- Mail.ru 2 407 1 669 44
- Ecommerce 20 355 12 386 64
Pay television 36 271 30 257 20
Print 11 692 11 932 (2)
Segment revenue 104 981 76 776 37
Less: Equity-accounted investments (42 253) (26 907) 57
Consolidated 62 728 49 869 26



EBITDA
Year ended 31 March
2014 2013
Segmental (Restated) %
review R'm R'm change
Internet 8 540 7 389 16
- Tencent 12 232 8 603 42
- Mail.ru 1 286 895 44
- Ecommerce (4 978) (2 109) amp;gt;(100)
Pay television 10 370 8 933 16
Print 1 073 1 167 (8)
Corporate services (150) (138) -
Segment EBITDA 19 833 17 351 14
Less: Equity-accounted investments (13 442) (9 565) 41
Consolidated 6 391 7 786 (18)
EBITDA refers to earnings before interest, tax, depreciation and amortisation.



Trading profit
Year ended 31 March
2014 2013
Segmental (Restated) %
review R'm R'm change
Internet 6 638 6 163 8
- Tencent 10 792 7 702 40
- Mail.ru 1 175 798 47
- Ecommerce (5 329) (2 337) amp;gt;(100)
Pay television 8 520 7 559 13
Print 606 743 (18)
Corporate services (151) (139) -
Segment trading profit 15 613 14 326 9
Less: Equity-accounted investments (11 707) (8 414) 39
Consolidated 3 906 5 912 (34)

Year ended Year ended
31 March 31 March
2014 2013
Reconciliation of trading profit (Restated)
to operating profit R'm R'm
Trading profit 3 906 5 912
Finance cost on transponder leases 356 231
Amortisation of intangible assets (711) (996)
Other gains/(losses) - net (1 320) (735)
Retention option expense (132) (138)
Equity-settled share-based charge (81) (175)
Operating profit 2 018 4 099


Note: For a reconciliation of operating profit to profit before taxation, refer to the "Consolidated income statement".

Year ended Year ended
31 March 31 March
2014 2013
Consolidated (Restated) %
income statement Note R'm R'm change
Revenue 62 728 49 869 26
Cost of providing services and sale of goods (35 416) (27 676)
Selling, general and administration expenses (23 974) (17 359)
Other gains/(losses) - net (1 320) (735)
Operating profit 2 018 4 099 (51)
Interest received 6 606 443
Interest paid 6 (2 466) (1 495)
Other finance income/(costs) - net 6 (267) (258)
Share of equity-accounted results 7 10 835 8 778
- excluding net gain on disposal of investments 7 906 6 130 29
- net gain on disposal of investments 2 929 2 648
Impairment of equity-accounted investments (1 201) (2 137)
Dilution losses on equity-accounted investments (852) (96)
Gains/(losses) on acquisitions and disposals 751 (53)
Profit before taxation 8 9 424 9 281 2
Taxation (2 895) (2 533)
Profit for the year 6 529 6 748 (3)
Attributable to:
Equity holders of the group 5 751 6 047
Non-controlling interest 778 701
6 529 6 748
Core headline earnings for the year (R'm) 5 8 616 8 533 1
Core headline earnings per N ordinary share (cents) 2 181 2 216 (2)
Fully diluted core headline earnings per
N ordinary share (cents) 2 125 2 164 (2)
Headline earnings for the year (R'm) 5 5 981 6 630 (10)
Headline earnings per N ordinary share (cents) 1 514 1 722 (12)
Fully diluted headline earnings per N ordinary
share (cents) 1 475 1 681 (12)
Earnings per N ordinary share (cents) 1 456 1 570 (7)
Fully diluted earnings per N ordinary share (cents) 1 418 1 533 (8)
Net number of shares issued ('000)
- at year-end 397 625 394 272
- weighted average for the year 395 078 385 064
- fully diluted weighted average 405 469 394 365


Year ended Year ended
31 March 31 March
2014 2013
Condensed consolidated (Restated)
statement of comprehensive income R'm R'm
Profit for the year 6 529 6 748
Total other comprehensive income, net of tax, for the year* 6 727 1 527
Translation of foreign operations 4 910 5 292
Fair value losses (7) -
Cash flow hedges (204) 237
Share of other comprehensive income and reserves of equity-accounted
investments 1 951 (3 946)
Tax on other comprehensive income 77 (56)
Total comprehensive income for the year 13 256 8 275
Attributable to:
Equity holders of the group 12 492 7 463
Non-controlling interest 764 812
13 256 8 275


* These components of other comprehensive income may subsequently be reclassified to profit or loss, except for
R552m (2013: R401m) included in the Share of equity-accounted investments' other comprehensive income and
reserves.

Year ended Year ended
31 March 31 March
2014 2013
Condensed consolidated (Restated)
statement of changes in equity R'm R'm
Balance at beginning of the year 55 853 49 576
Changes in share capital and premium
Movement in treasury shares (17) (1 695)
Share capital and premium issued 1 293 2 067
Changes in reserves
Total comprehensive income for the year 12 492 7 463
Movement in share-based compensation reserve 487 441
Movement in existing control business combination reserve (340) (700)
Movement in valuation reserve - 39
Direct retained earnings movements 23 (98)
Dividends paid to Naspers' shareholders (1 526) (1 291)
Changes in non-controlling interest
Total comprehensive income for the year 764 812
Dividends paid to non-controlling shareholders (1 142) (1 180)
Movement in non-controlling interest in reserves 318 419
Balance at end of year 68 205 55 853
Comprising:
Share capital and premium 16 337 15 061
Retained earnings 31 971 27 723
Share-based compensation reserve 5 082 4 006
Existing control business combination reserve (1 065) (688)
Hedging reserve (262) (175)
Valuation reserve 3 005 1 623
Foreign currency translation reserve 11 085 6 191
Non-controlling interest 2 052 2 112
Total 68 205 55 853


Year ended Year ended
31 March 31 March
2014 2013
Condensed consolidated statement (Restated)
of financial position Note R'm R'm
Assets
Non-current assets 100 212 76 120
Property, plant and equipment 17 053 13 716
Goodwill 9 25 811 21 593
Other intangible assets 5 702 4 802
Investments in associates 10 47 755 32 767
Investments in joint ventures 10 1 727 620
Investments and loans 10 1 193 1 808
Derivatives 2 72
Deferred taxation 969 742
Current assets 28 390 27 143
Inventory 2 882 1 936
Programme and film rights 1 979 1 868
Trade receivables 4 849 4 042
Other receivables and loans 4 807 3 149
Derivatives 209 449
Cash and cash equivalents 13 664 15 653
28 390 27 097
Non-current assets held-for-sale - 46
Total assets 128 602 103 263
Equity and liabilities
Share capital and reserves 66 153 53 741
Share capital and premium 16 337 15 061
Other reserves 17 845 10 957
Retained earnings 31 971 27 723
Non-controlling shareholders' interest 2 052 2 112
Total equity 68 205 55 853
Non-current liabilities 36 549 29 176
Capitalised finance leases 6 768 5 868
Liabilities - interest-bearing 12 27 395 20 571
- non-interest-bearing 452 276
Post-employment medical liability 176 161
Derivatives 364 972
Deferred taxation 1 394 1 328
Current liabilities 23 848 18 234
Current portion of long-term debt 2 628 2 296
Trade payables 5 318 4 107
Accrued expenses and other current liabilities 13 981 10 228
Derivatives 840 180
Bank overdrafts and call loans 1 081 1 423
Total equity and liabilities 128 602 103 263
Net asset value per N ordinary share (cents) 16 637 13 630


Year ended Year ended
31 March 31 March
2014 2013
Condensed consolidated (Restated)
statement of cash flows R'm R'm
Cash flow generated from operating activities 3 274 10 035
Cash flow utilised in investing activities (8 036) (6 409)
Cash flow generated from financing activities 2 114 1 286
Net movement in cash and cash equivalents (2 648) 4 912
Foreign exchange translation adjustments 1 001 670
Cash and cash equivalents at beginning of the year 14 230 8 648
Cash and cash equivalents at end of the year 12 583 14 230


Notes to the summarised consolidated financial results
1. General information
The principal activities of Naspers and its operating subsidiaries, joint ventures and associated
companies (collectively "the group") are the operation of media and internet platforms. Our principal
operations are in ecommerce and other internet services, pay-television services and print media.

2. Basis of presentation and accounting policies
The provisional report is prepared in accordance with the requirements of the JSE Limited Listings
Requirements and the South African Companies Act No 71 of 2008. The listings requirements require
provisional reports to be prepared in accordance with the framework concepts, the measurement and
recognition requirements of International Financial Reporting Standards (IFRS), the SAICA Financial
Reporting Guides as issued by the Accounting Practices Committee, and Financial Pronouncements as
issued by the Financial Reporting Standards Council, and also to, as a minimum, contain the information
required by IAS 34 Interim Financial Reporting.
The accounting policies applied in the preparation of the consolidated financial statements from which
the condensed consolidated provisional financial statements were derived, are in terms of IFRS and are,
except as noted below, also consistent with those applied in the previous annual financial statements.
The group's reportable segments reflect those components of the group that are regularly reviewed by
the chief executive officer and other senior executives, who make strategic decisions in accordance with
IFRS 8 Operating Segments. The group proportionately consolidates its share of the results of its
associated companies and joint ventures in the various reportable segments. This is considered to be more
reflective of the economic value of these investments.

The group aggregated the previously reported "other internet" segment with the ecommerce segment as
these segments are now considered to have similar economic characteristics and meet the aggregation criteria
of IFRS 8. Comparative information has been restated accordingly.
Trading profit excludes amortisation of intangible assets (other than software), equity-settled share scheme
charges, retention option expenses and other gains/losses, but includes the finance cost on transponder leases.
Core headline earnings exclude once-off and non-operating items. We believe that it is a useful measure for
shareholders of the group's sustainable operating performance. However, this is not a defined term under IFRS
and may not be comparable with similarly titled measures reported by other companies.

3. Independent audit
The annual financial statements have been audited by the company's auditor, PricewaterhouseCoopers Inc.,
whose unqualified audit reports on the annual financial statements and provisional report are available
for inspection at the registered office of the company. The auditor's report does not necessarily cover
all of the information contained in this provisional report. Shareholders are therefore advised that in
order to obtain a full understanding of the nature of the auditor's work, they should obtain a copy of
that report, together with the annual financial statements, from the registered office of the company.
The annual financial statements, together with the integrated report, will be available on www.naspers.com
on or about 31 July 2014.

4. Changes in accounting policies
The group has adopted all new and amended accounting pronouncements as issued by the International
Accounting Standards Board (IASB), which were effective for financial years commencing on 1 April 2013.
The following key new pronouncements have been adopted:

IFRS 10 Consolidated Financial Statements
IFRS 10 replaces the consolidation and control guidance previously contained in IAS 27 Consolidated and
Separate Financial Statements and SIC-12 Consolidation - Special Purpose Entities. The application of IFRS 10 did
not result in any changes in the consolidation status of the group's subsidiaries and consequently no changes to
the group's consolidated financial results.

IFRS 13 Fair Value Measurement
IFRS 13 aims to improve consistency and reduce complexity by providing a precise definition of fair value and a
single source of fair value measurement and disclosure requirements for use across IFRS. IFRS 13 was adopted
and applied prospectively and it was assessed that the adoption did not result in any material impact on the
financial results of the group.

IFRS 11 Joint Arrangements
IFRS 11 replaces the guidance previously contained in IAS 31 Interests in Joint Ventures and SIC-13 Jointly
Controlled Entities - Non-Monetary Contributions by Venturers. Significantly, IFRS 11 requires all interests in joint
ventures to be accounted for under the equity method. The group previously accounted for its interests in joint
ventures by applying proportionate consolidation - a line-by-line consolidation of the group's share of the results
of the joint ventures.

The group has applied IFRS 11 on a fully retrospective basis by accounting for joint ventures in terms of the
equity method from the beginning of the earliest period presented in this provisional report, 1 April 2012.
The impact of the adoption of IFRS 11 on the group's consolidated financial results is illustrated below (the
application of IFRS 11 did not have a significant impact on the statement of comprehensive income).

Year ended 31 March 2013
Change in
Previously accounting
reported policy Restated
Consolidated income statement R'm R'm R'm
Revenue 50 249 (380) 49 869
Cost of providing services and sale of goods (27 852) 176 (27 676)
Selling, general and administration expenses (17 751) 392 (17 359)
Other gains/(losses) - net (831) 96 (735)
Operating profit 3 815 284 4 099
Interest received 433 10 443
Interest paid (1 501) 6 (1 495)
Other finance income/(costs) - net (248) (10) (258)
Share of equity-accounted results 9 001 (223) 8 778
- excluding net gain on disposal of investments 6 359 (229) 6 130
- net gain on disposal of investments 2 642 6 2 648
Impairment of equity-accounted investments (2 057) (80) (2 137)
Dilution losses on equity-accounted investments (96) - (96)
Losses on acquisitions and disposals (47) (6) (53)
Profit before taxation 9 300 (19) 9 281
Taxation (2 552) 19 (2 533)
Profit for the year 6 748 - 6 748
Condensed consolidated statement
of cash flows
Cash flow generated from operating activities 9 845 190 10 035
Cash flow utilised in investing activities (6 213) (196) (6 409)
Cash flow generated from financing activities 1 280 6 1 286
Net movement in cash and cash equivalents 4 912 - 4 912
Foreign exchange translation adjustments 687 (17) 670
Cash and cash equivalents at beginning of the year 8 791 (143) 8 648
Cash and cash equivalents at end of the year 14 390 (160) 14 230


Year ended 31 March 2013 As at 1 April 2012

Condensed Change in Change in
consolidated Previously accounting Previously accounting
statement of reported policy Restated reported policy Restated
financial position R'm R'm R'm R'm R'm R'm
Assets
Non-current assets 76 109 11 76 120 62 037 (26) 62 011
Property, plant and equipment 13 810 (94) 13 716 8 879 (115) 8 764
Goodwill and other intangible
assets 26 440 (45) 26 395 21 768 (175) 21 593
Investments in associates and
joint ventures 33 150 237 33 387 28 095 366 28 461
Investments and loans 1 891 (83) 1 808 2 564 (97) 2 467
Derivatives 72 - 72 86 - 86
Deferred taxation 746 (4) 742 645 (5) 640
Current assets 27 427 (284) 27 143 19 241 (250) 18 991
Inventory 1 941 (5) 1 936 1 238 (7) 1 231
Programme and film rights 1 868 - 1 868 1 522 - 1 522
Trade and other receivables
and loans 7 310 (119) 7 191 5 935 (100) 5 835
Derivatives 449 - 449 85 - 85
Cash and cash equivalents 15 813 (160) 15 653 9 825 (143) 9 682
27 381 (284) 27 097 18 605 (250) 18 355
Non-current assets
held-for-sale 46 - 46 636 - 636
Total assets 103 536 (273) 103 263 81 278 (276) 81 002
Total equity 55 853 - 55 853 49 576 - 49 576
Non-current liabilities 29 192 (16) 29 176 17 845 (41) 17 804
Long-term liabilities 26 720 (5) 26 715 15 552 (25) 15 527
Post-employment medical
liability 164 (3) 161 139 (2) 137
Derivatives 972 - 972 839 - 839
Deferred taxation 1 336 (8) 1 328 1 315 (14) 1 301
Current liabilities 18 491 (257) 18 234 13 857 (235) 13 622
Current portion of long-term
debt 2 298 (2) 2 296 1 613 (3) 1 610
Trade payables 4 179 (72) 4 107 2 865 (72) 2 793
Accrued expenses and other
current liabilities 10 411 (183) 10 228 7 981 (160) 7 821
Derivatives 180 - 180 206 - 206
Bank overdrafts and call loans 1 423 - 1 423 1 034 - 1 034
18 491 (257) 18 234 13 699 (235) 13 464
Liabilities classified as
held-for-sale - - - 158 - 158
Total equity and liabilities 103 536 (273) 103 263 81 278 (276) 81 002


5. Headline and core headline earnings
Year ended Year ended
31 March 31 March
2014 2013
Calculation of headline (Restated)
and core headline earnings R'm R'm
Profit attributable to equity holders of the group 5 751 6 047
Adjusted for:
- insurance proceeds - (2)
- impairment of property, plant and equipment and other assets 112 97
- impairment of goodwill and intangible assets 1 461 588
- (profit)/loss on sale of property, plant and equipment and
intangible assets (58) 17
- gains on acquisitions and disposals of investments (45) (11)
- remeasurement of previously held interest (700) -
- dilution losses on equity-accounted investments 852 96
- remeasurements included in equity-accounted earnings (2 447) (2 278)
- impairment of equity-accounted investments 1 201 2 137
6 127 6 691
Total tax effects of adjustments (81) (29)
Total adjustment for non-controlling interest (65) (32)
Headline earnings 5 981 6 630
Adjusted for:
- equity-settled share-based charges 1 120 850
- reversal/(recognition) of deferred tax assets 58 (195)
- special dividend income - (423)
- taxation adjustment - (191)
- amortisation of intangible assets 1 385 1 403
- fair value adjustments and currency translation differences (47) 273
- retention option expense 128 135
- business combination (profits)/losses (9) 51
Core headline earnings 8 616 8 533
6. Interest received/(paid)
Year ended Year ended
31 March 31 March
2014 2013
(Restated)
R'm R'm
Interest received 606 443
- loans and bank accounts 456 408
- other 150 35
Interest paid (2 466) (1 495)
- loans and overdrafts (1 717) (1 044)
- transponder leases (356) (231)
- other (393) (220)
Other finance income/(cost) - net (267) (258)
- net foreign exchange differences and fair value adjustments
on derivatives (344) (383)
- preference dividends received 77 125


7. Equity-accounted results
The group's equity-accounted associated companies and joint ventures contributed to the
consolidated financial results as follows:


Year ended Year ended
31 March 31 March
2014 2013
(Restated)
R'm R'm
Share of equity-accounted results 10 835 8 778
- sale of assets (19) -
- sale of investments (2 929) (2 648)
- impairment of investments 532 348
- gains on acquisitions and disposals - (8)
Contribution to headline earnings 8 419 6 470
- amortisation of intangible assets 897 692
- equity-settled share scheme charges 987 675
- business combination costs - 13
- special dividend income - (423)
- taxation adjustment - (191)
- fair value adjustments and currency translation differences (181) (61)
- reversal/(recognition) of deferred tax assets 35 (195)
Contribution to core headline earnings 10 157 6 980
Tencent 9 724 6 652
Mail.ru 911 652
Abril (110) (69)
Other (368) (255)


8. Profit before taxation
Apart from the items detailed above, profit before taxation has been determined after taking
into account, inter alia, the following:

Year ended Year ended
31 March 31 March
2014 2013
(Restated)
R'm R'm
Depreciation of property, plant and equipment 1 942 1 493
Amortisation 898 1 146
- intangible assets 711 996
- software 187 150
Other gains/(losses) - net (1 320) (735)
- profit/(loss) on sale of property, plant and equipment
and intangible assets 58 (17)
- impairment of goodwill and intangible assets (1 461) (588)
- impairment of property, plant and equipment and other assets (112) (97)
- insurance proceeds - 2
- fair value adjustment of financial instruments 195 (35)
Gains/(losses) on acquisitions and disposals 751 (53)
- profit on sale of investments 44 68
- losses recognised on loss of control transactions - (44)
- remeasurement of contingent consideration 48 13
- acquisition-related costs (41) (73)
- remeasurement of previously held interest 700 -
- other - (17)


9. Goodwill
Goodwill arises on the acquisition of interests in subsidiaries and is subject to an
annual impairment assessment.
Movements in the group's goodwill for the year are detailed below:

Year ended Year ended
31 March 31 March
2014 2013
(Restated)
R'm R'm
Goodwill
- cost 24 077 19 610
- accumulated impairment (2 484) (1 873)
Opening balance 21 593 17 737
- foreign currency translation effects 3 226 2 103
- acquisitions 2 003 2 423
- disposals (18) (164)
- impairment (993) (506)
Closing balance 25 811 21 593
- cost 29 405 24 077
- accumulated impairment (3 594) (2 484)


10. Investments and loans
The following relates to the group's investments and loans as at the end of the reporting period:

Year ended Year ended
31 March 31 March
2014 2013
(Restated)
R'm R'm
Investments and loans 50 675 35 195
- listed investments 44 194 29 157
- unlisted investments and loans 6 481 6 038


11. Commitments
Commitments relate to amounts for which the group has contracted, but that have not yet been recognised as
obligations in the statement of financial position.


Year ended Year ended
31 March 31 March
2014 2013
(Restated)
R'm R'm
Commitments 22 417 18 073
- capital expenditure 740 1 064
- programme and film rights 17 701 13 559
- network and other service commitments 1 530 1 158
- transponder leases 424 399
- operating lease commitments 1 413 1 333
- set-top box commitments 609 560


12. Issue of listed bond, and repayment of existing facilities
The group issued a seven-year US$1bn international bond in July 2013. The bond matures in July 2020 and
carries a fixed interest rate of 6% per annum. The proceeds were used to partly pay down an offshore
revolving credit facility.


13. Business combinations and other acquisitions
In June 2013 the group's subsidiary MIH India Global Internet Limited (MIH India) acquired a 100% interest
in redBus, an Indian online ticketing platform. The fair value of the total purchase consideration was
R1bn in cash.
The purchase price allocation: property, plant and equipment R4m; intangible assets R354m; cash R29m and
restricted cash R96m; trade and other receivables R27m; trade and other payables R41m; deferred tax
liability R114m and the balance to goodwill.

During June 2013 the option to subscribe for new shares in MIH India held by Tencent Holdings Limited
expired. MIH India operates ecommerce platforms under the ibibo brand. In terms of IFRS 10 the group
exercised control over MIH India from the date that the option expired. The group previously accounted for
MIH India as a joint venture. The fair value of the total deemed purchase consideration was R321m, being the
acquisition date fair value of the interest held in MIH India. A gain of R274m has been recognised as a
result of remeasuring to fair value the existing interest in MIH India. The purchase price allocation:
property, plant and equipment R5m; intangible assets R162m; cash R71m; trade and other receivables R64m;
trade and other payables R78m; deferred tax liability R51m and the balance to goodwill.

In July 2013 the group acquired an additional interest of 28,6% in Dubizzle, an online classifieds platform
centred on Dubai. The group's total interest in Dubizzle increased to 53,6% and the group now accounts for
Dubizzle as a subsidiary. The fair value of the total purchase consideration was R939m, consisting of R477m
in cash for the additional interest and R462m being the acquisition date fair value of the existing interest
held in Dubizzle. The purchase price allocation: property, plant and equipment R2m; intangible assets R381m;
cash R231m; trade and other receivables R16m; trade and other payables R37m and the balance to goodwill.
A non-controlling interest of R252m was recognised at the acquisition date. A gain of R231m has been recognised
as a result of remeasuring to fair value the group's existing interest in Dubizzle before the acquisition of
the additional interest.

The main factor contributing to the goodwill recognised in these acquisitions is their market presence. This
goodwill is not expected to be deductible for income tax purposes. The non-controlling interest was measured
using the proportionate share of the identifiable net assets.

The group made various smaller acquisitions with a combined cost of R270m. Total acquisition-related costs
of R41m were recorded in "Gains/(losses) on acquisitions and disposals" in the income statement. Had the
revenues and net results of redBus and Dubizzle been included from 1 April 2013, it would not have had a
significant effect on the group's consolidated revenue and net results.

The following investments in associated companies and joint ventures were made:

In June 2013 the group acquired an additional 6,1% interest in Souq Group Limited, an online retailer,
marketplace and payment platform business, with operations in the UAE, Saudi Arabia, Egypt and Kuwait,
for R296m in cash.
During March 2014 the group acquired a further interest of 11,8% in Souq Group Limited for R911m in cash.
The group now has a 47,6% interest in Souq Group Limited.

In July 2013 the group acquired an additional 8,6% interest in Flipkart Private Limited, a leading ecommerce
site in India, for R1 376m in cash. During May 2014 the group invested a further R543m in cash in Flipkart.
The group now has a 17,7% interest in Flipkart on a fully diluted basis.

In February 2014 the group acquired 26,1% in SimilarWeb Limited, an online analytics provider,
for R155m in cash.

The group has a 22,5% interest in SimilarWeb on a fully diluted basis.
During February 2014 the group acquired a 30,7% interest for R200m in cash in Neralona Investments Limited,
trading as eSky.ru, an online children's goods retailer in Russia.

The above acquisitions were primarily funded through the utilisation of existing credit facilities.


14. Financial instruments
The information below analyses the group's financial instruments, which are carried at fair value at each
reporting period, by level of the hierarchy as required by IFRS 7 and IFRS 13.

Fair value measurements at 31 March 2014 using:

Quoted prices
in active
markets for Significant
identical other Significant
assets observable unobservable
or liabilities inputs inputs
(Level 1) (Level 2) (Level 3)
R'm R'm R'm
Assets
Available-for-sale investments 120 - -
Foreign exchange contracts - 210 -
Interest rate swaps - 1 -
Liabilities
Foreign exchange contracts - 66 -
Shareholders' liabilities - - 806
Earn-out obligations - - 263
Interest rate swaps - 332 -
There have been no transfers between level one, two or three during the period, nor were there any
significant changes to the valuation techniques and inputs used to determine fair values.

Financial instruments for which fair value is disclosed:
Carrying
value Fair value Level 1 Level 2 Level 3
31 March 2014 R'm R'm R'm R'm R'm
Financial liabilities
Loans from non-controlling
shareholders 480 478 - - 478
Capitalised finance leases 7 277 7 074 - - 7 074
Publicly traded bonds 17 784 19 706 - 19 706 -

The fair values of the publicly traded bonds have been determined with reference to the listed prices of the
instruments at the reporting date.

Reconciliation of level 3 financial liabilities
The following table presents the changes in level 3 instruments Shareholders' Earn-out
for the period ending 31 March 2014: liabilities obligations
R'm R'm
Opening balance at 1 April 2013 704 185
Total gains in profit or loss (145) (13)
Issues 284 155
Settlements (82) (91)
Foreign currency translation effects 45 27
Closing balance at 31 March 2014 806 263

The fair value of shareholders' liabilities is determined using a discounted cash flow model.
Business specific adjusted discount rates are applied to estimated future cash flows. For earn-out obligations,
current forecasts of the extent to which management believe performance criteria will be met, discount rates
reflecting the time value of money and contractually specified earn-out payments are used. Changes in
these assumptions could affect the reported fair value of these financial instruments. The fair value of level
two financial instruments is determined with the use of exchange rates quoted in an active market and interest
rate extracts from observable yield curves.

15. Events after the reporting period
Subsequent to year-end, the group invested a further R543m in cash in Flipkart.

Naspers Limited
(Registration number: 1925/001431/06)
("Naspers")
JSE share code: NPN ISIN: ZAE000015889
LSE share code: NPSN ISIN: US 6315121003


Directors
T Vosloo (chair), B van Dijk (chief executive), C L Enenstein, D G Eriksson, F-A du Plessis,
R C C Jafta, F L N Letele, Y Ma, D Meyer, R Oliveira de Lima, S J Z Pacak, T M F Phaswana,
J D T Stofberg, B J van der Ross, J J M van Zyl

Alternate director
M R Sorour

Company secretary
G Kisbey-Green

Registered office
40 Heerengracht, Cape Town 8001
(PO Box 2271, Cape Town 8000)

Transfer secretaries
Link Market Services South Africa Proprietary Limited
13th Floor, Rennie House, 19 Ameshoff Street, Braamfontein 2001
(PO Box 4844, Johannesburg 2000)


ADR programme
Bank of New York Mellon maintains a GlobalBuyDIRECTTM plan for Naspers Limited. For additional information,
please visit the Bank of New York Mellon's website at www.globalbuydirect.com or call Shareholder Relations at
1-888-BNY-ADRS or 1-800-345-1612 or write to: Bank of New York Mellon, Shareholder Relations Department -
GlobalBuyDIRECTTM, Church Street Station, PO Box 11258, New York, NY 10286-1258, USA.


Important information
The report contains forward-looking statements as defined in the United States Private Securities Litigation Reform
Act of 1995. Words such as "believe", "anticipate", "intend", "seek", "will", "plan", "could", "may", "endeavour"
and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means
of identifying such statements. While these forward-looking statements represent our judgements and future
expectations, a number of risks, uncertainties and other important factors could cause actual developments and
results to differ materially from our expectations. These include factors that could adversely affect our businesses
and financial performance. We are not under any obligation to (and expressly disclaim any such obligation to) update
or alter our forward-looking statements, whether as a result of new information, future events or otherwise. Investors
are cautioned not to place undue reliance on any forward-looking statements contained herein.

What service do we provide for our
users?
Trading opportunities, entertainment,
information, gaming and access to
friends, wherever they are.

NASPERS
www.naspers.com

Sponsor: Investec Bank Limited
Date: 23/06/2014 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Appointment of Alternate Director

Naspers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
JSE share code: NPN ISIN: ZAE000015889
LSE ADS code: NPSN ISIN: US 6315121003
("Naspers" or "the company")



APPOINTMENT OF AN ALTERNATE DIRECTOR



Shareholders are advised that with effect from 16 April 2014 Mark Sorour, Head of Mergers and
Acquisitions, has been appointed an Alternate Director to an Executive Director of Naspers.

Mark Sorour is a qualified chartered accountant. He previously held various positions in the Audit
and Corporate Finance divisions of PricewaterhouseCoopers Inc., and spent several years as an
Investment Banker before joining Naspers subsidiary MIH Holdings in 1994. Mark has held
several Corporate Finance and Business Development positions in the Naspers group.

Cape Town
17 April 2014

Sponsor: Investec Bank Limited




1

Date: 17/04/2014 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Change in management of PAY- TV SEGMENT

Naspers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
JSE share code: NPN ISIN: ZAE000015889
LSE ADS code: NPSN ISIN: US 6315121003
("Naspers" or "the company")


CHANGE IN MANAGEMENT OF PAY-TV SEGMENT



Mr Eben Greyling, CEO of Naspers's pay-TV segment has decided to take a break and pursue
new interests after more than 18 years with the group.

Eben has been instrumental in building the group's successful pay-TV businesses across the
continent. Under his leadership over the last five years the subscriber base and turnover of the
pay-TV businesses more than doubled. He has made a great contribution and delivered a sterling
service to the group. The board wishes him all the best as he takes a break to prepare for the next
phase of his career.

Mr Jim Volkwyn, previous head of the group's pay-TV segment, will take over the reins from 1
April 2014.

More information on the group is available on the website www.naspers.com.

Cape Town
1 April 2014
Sponsor: Investec Bank Limited




1

Date: 01/04/2014 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Notification of interest in shares

NASPERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
Share code: NPN ISIN: ZAE000015889
LSE ADS code: NPSN ISIN: US 6315121003
("Naspers" or "the Company")


NOTIFICATION IN TERMS OF SECTION 122(3) OF THE COMPANIES ACT AND
SECTION 3.83(b) OF THE JSE LISTINGS REQUIREMENTS


In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 ("the Act"), and section
3.83(b) of the JSE Listings Requirements, holders of N ordinary shares in the Company are advised
that Dodge & Cox, has disposed of a beneficial interest in N ordinary shares of the Company ("the
securities"), such that all its beneficial interests of the securities of the Company amount to 4,88% of
the total number of N ordinary shares in issue.

Naspers hereby confirms that it has received the required notice from Dodge & Cox in terms of
Section 122(1) of the Act. As required in terms of section 122(3) (a) of the Act, Naspers has filed the
required notice with the Takeover Regulation Panel.


Cape Town
4 March 2014

Sponsor: Investec Bank Limited

Date: 04/03/2014 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Dealing in securities by a Director

NASPERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
Share code: NPN ISIN: ZAE000015889
LSE ADS code: NPSN ISIN: US 6315121003
(‘Naspers' or ‘the company')


In compliance with Rules 3.63 - 3.74 of the JSE Listings Requirements, the following
information is disclosed:-


Director: Mr F L N Letele
Company: Naspers Limited
Transaction date: 27 February 2014
Nature of transaction: on market sale
Number of shares: 4 000 Naspers shares
Class of shares: N ordinary
Total value of transaction: R5 336 000,00
Average price per share: R1 334,00
Highest price per share: R1 334,00
Lowest price per share: R1 334,00
Nature of transactions: Sale of shares held by Mr Letele
Nature of interest: Direct beneficial
Clearance: Clearance has been received in terms of paragraph
3.66 of the JSE Listings Requirements


Cape Town
3 March 2014

Sponsor: Investec Bank Limited

Date: 03/03/2014 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Notification of Interest in Shares

NASPERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
Share code: NPN ISIN: ZAE000015889
LSE ADS code: NPSN ISIN: US 6315121003
("Naspers" or "the Company")


NOTIFICATION IN TERMS OF SECTION 122(3) OF THE COMPANIES ACT AND
SECTION 3.83(b) OF THE JSE LISTINGS REQUIREMENTS


In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 ("the Act"), and section
3.83(b) of the JSE Listings Requirements, holders of N ordinary shares in the Company are advised
that Coronation Asset Management (Pty) Ltd on behalf of its clients, has disposed of a beneficial
interest in N ordinary shares of the Company ("the securities"), such that all its beneficial interests of
the securities of the Company amount to 4,96% of the total number of N ordinary shares in issue.

Naspers hereby confirms that it has received the required notice from Coronation Asset Management
(Pty) Ltd on behalf of its clients in terms of Section 122(1) of the Act. As required in terms of section
122(3) (a) of the Act, Naspers has filed the required notice with the Takeover Regulation Panel.


Cape Town
25 February 2014

Sponsor: Investec Bank Limited

Date: 25/02/2014 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Naspers announces CEO and Chairman's succession

Naspers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
JSE share code: NPN ISIN: ZAE000015889
LSE ADS code: NPSN ISIN: US 6315121003
("Naspers" or "the company")




NASPERS ANNOUNCES CEO AND CHAIRMAN'S SUCCESSION




The Naspers board announced that its CEO, Koos Bekker (61), will be succeeded
by Bob van Dijk, currently Naspers's most senior ecommerce chief.

Van Dijk (41) holds an MSc Econometrics from Erasmus University Rotterdam
(cum laude), plus an MBA from Insead in France (Dean's List). Among other
experience, he headed up eBay Germany, that group's biggest market outside the
US, and was COO of Schibsted's classifieds.

Bekker will stand down from the Naspers board for a year effective 1 April 2014,
to allow Van Dijk the space to settle in with both Naspers top management and
the board. Van Dijk will join the board as an executive director on 1 April.
Bekker intends to travel widely and research where the group's next spurt of
growth may come from, once ecommerce has reached maturity. In April 2015,
Ton Vosloo intends to step down as chair of the board, when Bekker will succeed
him, as non-executive chair.


CAPE TOWN
24 February 2014

Sponsor: Investec Bank Limited





Date: 24/02/2014 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Notification of interest in shares

NASPERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
Share code: NPN ISIN: ZAE000015889
LSE ADS code: NPSN ISIN: US 6315121003
("Naspers" or "the Company")


NOTIFICATION IN TERMS OF SECTION 122(3) OF THE COMPANIES ACT AND
SECTION 3.83(b) OF THE JSE LISTINGS REQUIREMENTS


In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 ("the Act"), and section
3.83(b) of the JSE Listings Requirements, holders of N ordinary shares in the Company are advised
that The Capital Group Companies, Inc., has disposed of a beneficial interest in N ordinary shares of
the Company ("the securities"), such that all its beneficial interests of the securities of the Company
amount to 4,9656% of the total number of N shares in issue.

Naspers hereby confirms that it has received the required notice from The Capital Group Companies,
Inc. in terms of Section 122(1) of the Act. As required in terms of section 122(3) (a) of the Act,
Naspers has filed the required notice with the Takeover Regulation Panel.


Cape Town
5 February 2014

Sponsor: Investec Bank Limited

Date: 05/02/2014 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Dealings by Company Secretary

NASPERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
Share code: NPN ISIN: ZAE000015889
LSE ADS code: NPSN ISIN: US 6315121003
(‘Naspers' or ‘the company')


In compliance with Rules 3.63 - 3.74 of the JSE Listings Requirements, the following
information is disclosed:-


Company Secretary: Mrs G Kisbey-Green
Company: Naspers Limited
Transaction date: 6 December 2013
Nature of transaction: on market sale
Number of shares: 16 695 Naspers shares
Class of shares: N ordinary
Total value of transaction: R16 760 056,49
Average price per share: R1 003,90
Highest price per share: R1 010,13
Lowest price per share: R1 000,52
Date of vesting in the group
share-based incentive plan: Mrs Kisbey-Green sold vested shares held in the
Naspers Share Trust with the following vesting
dates: 1 722 shares on 22 September 2012 and 1 724
shares on 22 September 2013 ; and
MIH Holdings Share Trust with the following
vesting dates: 3 725 shares on 28 June 2012; 4 762
shares on 12 March 2012; 4 762 shares on 12 March
2013.
Nature of transaction: Sale of vested shares held in the Naspers Share
Incentive Trust and the MIH Holdings Share Trust
Nature of interest: Beneficial
Clearance: Clearance has been received in terms of paragraph
3.66 of the JSE Listings Requirements

Cape Town
9 December 2013
Sponsor: Investec Bank Limited

Date: 09/12/2013 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Dealing in securities by Director's associate

Naspers Limited

(Incorporated in the Republic of South Africa)

(Registration number 1925/001431/06)

JSE share code: NPN ISIN: ZAE000015889

LSE ADS code: NPSN ISIN: US 6315121003

("Naspers" or "the company")





In compliance with Rules 3.63 - 3.74 of the JSE Listings Requirements, the following

information is disclosed:-





Director: Mr T Vosloo

Company: Naspers Limited



Transaction date: 27 November 2013

Nature of transaction: on market sale of securities

Number of shares: 10 000 Naspers shares

Class of shares: N ordinary

Total value of sale: R9 519 975,38

Average price per share: R952,00

Highest price per share: R954,99

Lowest price per share: R949,99





Transaction date: 26 November 2013

Nature of transaction: on market sale of securities

Number of shares: 10 000 Naspers shares

Class of shares: N ordinary

Total value of sale: R9 554 881,59

Average price per share: R955,49

Highest price per share: R962,99

Lowest price per share: R950,00





Nature of transactions: Sale of shares held by Mr Vosloo's family trust

Nature of interest in transactions: Indirect beneficial

Clearance: Clearance has been received in terms of paragraph

3.66 of the JSE Listings Requirements





Cape Town

28 November 2013

Sponsor: Investec Bank Limited









1


Date: 28/11/2013 05:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.