THE THEKWINI WAREHOUSING CONDUIT (RF) LIMITED - Liquidity Facilities

Liquidity Facilities

The Thekwini Warehousing Conduit (RF) Limited
Dated: 11 February 2015


Reduction in the maximum commitment in terms of the Liquidity
Facilities under the ZAR6 000 000 000 Residential Mortgage
Warehousing Programme (the “Programme”)


On or about 26 February 2010 The Thekwini Warehousing Conduit
(RF) Limited (the “Issuer”) concluded separate senior, mezzanine
and junior liquidity facility agreements with, amongst others,
The Standard Bank of South Africa Limited.

Total notes in issue                    ZAR2 549 000 000


Notice is hereby given, in terms of Condition 19 of the Terms
and Conditions of the Notes, of the following reductions in the
commitment limit under each liquidity facility agreement:
1.   The reduction of the Senior Liquidity Facility commitment
     limit to ZAR2 972 000 000;
2.   The reduction of the Mezzanine Liquidity Facility commitment
     limit to ZAR17 000 000;
3.   The reduction of the Junior Liquidity Facility commitment
     limit to ZAR11 000 000;


These reductions will come into effect on 19 February 2015.
Please note that these changes do not affect any commitments in
respect of Notes currently in issue and that all future Notes to
be issued will still be covered 100% by the applicable Liquidity
Facilities.

The Thekwini Warehousing Conduit Security SPV (RF) Proprietary
Limited has consented to the aforementioned reductions.


Debt Sponsor: The Standard Bank of South Africa
Further information on the Note issued please contact:
Mike Brunke    Standard Bank (Debt Sponsor)       (011) 721 8101
Email: mike.brunke@standardbank.co.za

Date: 11/02/2015 08:52:00 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.