OLD MUTUAL LIFE ASSURANCE CO SA LTD - Optional redemption of OML01 notes

Optional redemption of OML01 notes

Old Mutual Life Assurance Company (South Africa) Limited –
Optional Redemption of OML01 Notes

OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA) LIMITED

Stock Code: OML01

ISIN: ZAG000026816

1.   On 25 October 2005, the Issuer established the Old Mutual
     Life    Assurance     Company    (South     Africa)     Limited
     ZAR4,000,000,000   Unsecured   Subordinated    Callable    Note
     Programme (the Programme) in terms of which the Issuer could
     from time to time issue notes on the Interest Rate Market of
     the JSE Limited (the JSE) as described in the programme
     memorandum dated 25 October 2005 (the Programme Memorandum),
     read with the relevant applicable pricing supplement.

2.   On 27 October 2005 the Issuer issued ZAR3,000,000,000
     Unsecured Subordinated Callable Notes (OML01) (the OML01
     Notes) due 27 October 2020 (the Final Redemption Date)
     pursuant to the terms and conditions contained in the
     Applicable Pricing Supplement dated 25 October 2005 (the
     Applicable Pricing Supplement)    read together with the
     Programme Memorandum. The OML01 Notes are redeemable at the
     option of the Issuer on 27 October 2015 (the Optional
     Redemption Date).

3.   This notice is delivered by the Issuer to each holder of
     OML01 Notes (the Noteholders) issued under the Programme in
     accordance with Condition 17 (Notices) and Condition 6.2
     (Redemption on the Optional Redemption Date or any Interest
     Payment Date thereafter) of the section headed “Terms and
     Conditions of the Notes” in the Programme Memorandum for
     purposes of notifying Noteholders of the Issuer exercising
     its option for early redemption of the OML01 Notes on the
     Optional Redemption Date at the Redemption Amount (being 100%
     of the outstanding Principal Amount of the Notes), together
     with any interest accrued thereon up until that date.


                     Capital redemption  Amount outstanding after
                                 amount       capital redemption

     OML01             R 3 000 000 000                       R 0


Dated: 21 September 2015

For further information contact:
Debt Sponsor: Nedbank Limited, acting through its Corporate and
Investment Banking division

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