Ref# 10003      18 Nov 2012

To Whom It May Concern
~~~~~~~~~~~~~~~~~~~~~~

Valuation Certificate

We have examined the following items and have determined, to the best of our knowledge and belief, the current retail replacement values including tax. Quality and weight of stones have been estimated in the settings unless otherwise stated. We assume no liability for consequences of whatever nature based upon this appraisal.

1 1 x 9ct Gold Pendant with Fairy design
Total mass of item = 19.30g
(Merchandise code:  3200001)
Value:  R 5500.00 (as at 02/06/09)

2 1 x 9ct Gold Pendant with Bird sign
Total mass of item = 15.75g
(Merchandise code:  3200006)
Value:  R 4490.00 (as at 02/06/09)

3 1 x 9ct Gold Bird Charm
Total mass of item = 3.50g
(Merchandise code:  3200011)
Value:  R 1000.00 (as at 02/06/09)

Total value (all 3) items: R 10990.00