LAND & AGRICULTURAL DEV BANK OF SA - Resignation of Board member

Resignation of Board member

THE LAND AND AGRICULTURAL   DEVELOPMENT BANK OF SOUTH AFRICA
Stock Code: LBK05   ISIN:   ZAG000113572
Stock Code: LBK07   ISIN:   ZAG000120007
Stock Code: LBK08   ISIN:   ZAG000121005
Stock Code: LBK11   ISIN:   ZAG000121955
Stock Code: LBK14   ISIN:   ZAG000134354
Stock Code: LBK15   ISIN:   ZAG000139890
Stock Code: LBK16   ISIN:   ZAG000141144
Stock Code: LBK17   ISIN:   ZAG000142787
Stock Code: LBK18   ISIN:   ZAG000142795
Stock Code: LBK19   ISIN:   ZAG000142977
Stock Code: LBK20   ISIN:   ZAG000144627
(“the Land Bank”)


Resignation of Board member


Prof. ASM (Mohammad) Karaan has resigned as a member of the Land
Bank Board with effect from 31 August 2017. Prof Karan was in
the process of serving his 2nd term of office as member of the
Board and his term was due to expire in December 2017 after
which he was due to rotate off the Board. In addition, he was
the chairperson of the Board Credit and Investment Committee
(CIC).

Given the resignation, the Board of the Bank has resolved to
appoint Ms DN (Dumo) Motau as chairperson of the CIC with effect
from 10 August 2017. Ms Motau, who was reappointed to the Board
on 1 March 2017 for a second term, has wide experience in
Banking, Credit Risk Management and Development Finance, gained
from different environments and institutions, spanning the
banking, regulatory and supervisory environments, credit risk
rating agencies and government policy formulation. Having
started her career in the banking sector, focusing on financial
analysis and development finance at the Development Bank of
Southern Africa, she moved to the South African Reserve Bank to
gain an understanding of the regulatory environment within which
banks operate. She has developed expertise in risk management,
having managed the credit exposures of Government at National
Treasury.

Following the resignation of Prof. Karaan, the Bank will have 9
non-executive directors and 2 (CEO and CFO) executive directors.
The process for the appointment of a replacement for Prof. Karaan
has already been initiated and the Bank has had engagements with
the Minister of Finance and the National Treasury to ensure that
the Board is capacitated with members that have the requisite
knowledge and expertise to assist the Board in discharging its
duties effectively.
An announcement on the appointment of new Board members will be
made in due course.


15 August 2017

Comments by:
Land and Agricultural Development Bank of South Africa

Enquiries:
Bennie van Rooy, Chief Financial Officer
Tel: 012 686 0914
bvanrooy@landbank.co.za

Debt Sponsor
The Standard Bank of South Africa Limited

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