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Firstrand Limited"s bank subsidiary issues R1 billion subordinated unsecured callable bonds FirstRand Limited (Incorporated in the Republic of South Africa) (Registration number: 1966/010753/06) ISIN: ZAE000066304 Share Code (JSE): FSR Share Code (NSX): FST FIRSTRAND LIMITED"S BANK SUBSIDIARY ISSUES R1 BILLION SUBORDINATED UNSECURED CALLABLE BONDS FirstRand Limited today issued R1billion Subordinated Unsecured Callable Bonds, through its wholly-owned subsidiary FirstRand Bank Limited, FirstRand Bank Limited Subordinated Unsecured Callable Bonds (TIER II) - FRB03, under their Domestic Medium-term Note Programme dated 24 February 2004. The full bond details are as follows: Bond code FRB03 Nominal issued R1,000,000,000 Coupon 9% Call date 15 September 2014 Maturity date 15 September 2019 First interest payment date 15 March 2006 Interest payment dates 15 March, 15 September Books close 05 March, 05 September Last day to register By 17:00 on 04 March, 04 September Issue price 80bps above R157 RSA government bond First settlement date 31 October 2005 Automatic conversion from fixed rate from and including the issue date to but excluding 15 September 2014 One Payment Basis to another and from and including 15 September 2019 a floating rate up to but excluding the maturity date Step-up period Coupon 3 month Jibar plus 165 bps (nacq) payable quarterly in arrears Redemption date 15 September 2019 Interest payment dates 15 March, 15 June, 15 September, 15 December Books close 05 March, 05 June, 05 September, 05 December Last day to register By 17:00 on 04 March, 04 June, 04 September, 04 December ISIN Code ZAG000026774 Arranger Rand Merchant Bank, a division of FirstRand Bank Limited If an interest payment date falls on a Saturday, Sunday or public holiday the payment will be made on the following business day. The bonds will be immobilised in the Central Securities Depository ("CSD") and settlement will take place electronically in terms of BESA Rules. All transactions effective during the period of pre-issued trading will settle on the same terms as all other transactions in listed financial instruments. These bonds qualify as Tier II Capital and the proceeds will be utilised to fund the strong advances growth experienced by WesBank and FNB Homeloans. The group believes that this debt capital is an efficient means to fund this growth. Sandton 26 October 2005 Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 26/10/2005 01:03:02 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department
