ABSA GROUP LIMITED - Announcement regarding the acquisition of the private label store card portfolio of Edcon Proprietary Limited (edco

Announcement regarding the acquisition of the private label store card portfolio of Edcon Proprietary Limited (“edco

ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
ISIN: ZAE000067237
JSE share code: ASA
Issuer code: AMAGB
(“Absa” or “Absa Group”)

ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ISIN: ZAE000079810
JSE share code: ABSP
(“Absa Bank”)


ANNOUNCEMENT REGARDING THE ACQUISITION OF THE PRIVATE LABEL STORE
CARD PORTFOLIO OF EDCON PROPRIETARY LIMITED (“EDCON”)

Shareholders are referred to the announcement of 6 June 2012 that Absa Bank, a wholly-
owned subsidiary of Absa Group, had entered into an agreement with Edcon to acquire the
accounts and receivables relating to the private label store cards of Edcon in South Africa
(the “Card Portfolio”) (the “Acquisition”).

Absa further announced that Absa Bank and Edcon had agreed to enter into a long-term,
strategic relationship under which Absa Bank will provide retail credit to Edcon customers
and Edcon will be responsible for all customer facing activities (the “Program”).

Absa is pleased to announce that all the conditions precedent relating to the Acquisition and
the Program have now been fulfilled and Absa Bank has, with effect from 1 November 2012,
acquired accounts and receivables from Edcon at their net book value of approximately
R8.8 billion. Absa fully expects to acquire the remaining portion of the Card Portfolio from
Edcon in due course.

Johannesburg
2 November 2012

Enquiries:
Alan Hartdegen – Head: Investor Relations
(+2711) 350-2598
e-mail: alan.hartdegen@absa.co.za

Lead Sponsor:
J.P. Morgan Equities Limited

Joint Sponsor:
Corporate and Investment Banking, Absa

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