STANDARD BANK OF SOUTH AFRICA LD - SCIB: The Standard Bank of South Africa Limited - Adjustments to the terms and conditions of ABL Warrants

SCIB: The Standard Bank of South Africa Limited - Adjustments to the terms and conditions of ABL Warrants

The Standard Bank of South Africa Limited

2013/11/07

ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD
BANK AFRICAN BANK INVESTMENTS LTD WARRANTS

Following the African Bank Investments Ltd (“ABL”) announcement on the rights
offer, ABL shareholders will receive rights to take up 84 ABL shares for every 100
ABL shares held at a price of R8.00 per share.

Following this announcement, notice is hereby given that the terms of the ABL
warrants will be adjusted to place the warrant holders in the same financial position
they were prior to the rights offer ex-date. The terms of the warrants shall be
determined at the close of business on 8th November 2013.

The following warrants will be affected by this corporate action:

Existing Terms
                      JSE Code Exercise Conversion       Expiry     Exercise
ISIN                            Price     Ratio                      Style
                                                                  American
    ZAE000178810        ABLSBB    R 25.00       10      07-Jan-14
                                                                    Call
                                                                  American
    ZAE000179255        ABLSBC    R 20.00       8       07-Jan-14
                                                                    Call
                                                                  American
    ZAE000181962        ABLSBD    R 17.50       8       04-Mar-14
                                                                    Call


New Terms
                      JSE Code Exercise Conversion       Expiry     Exercise
ISIN                            Price     Ratio                      Style
                                                                  American
    ZAE000178810        ABLSBB      TBA        TBA      07-Jan-14
                                                                    Call
                                                                  American
    ZAE000179255        ABLSBC      TBA        TBA      07-Jan-14
                                                                    Call
                                                                  American
    ZAE000181962        ABLSBD      TBA        TBA      04-Mar-14
                                                                    Call


The last day to trade before this adjustment is made will be 8th November 2013. The
Effective Date of the adjustment shall be 11th November 2013.

The JSE Limited (JSE) Issuer Services Division has approved the adjustment of the
above-mentioned warrants.

This Notice together with the Common Terms Document and Conditions Annexure
record the terms and conditions of the agreement between the Parties. Any terms
used in this Notice which are defined in the Common Terms Document, Conditions
Annexure and the relevant Supplements shall bear the meaning ascribed to them
therein, unless specifically stated otherwise herein. Other than as set out herein, the
terms and conditions set out in the Common Terms Document, Conditions Annexure
and relevant Supplements remain unchanged and in full force and effect.

Please note that Share Instalments are subject to selling restrictions and prospective
purchases are referred to the relevant Conditions Annexure for details of such
restrictions.

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