Momentum Group Limited - Strong Debt Rating for Momentum

Momentum Group Limited - Strong Debt Rating for Momentum                        
Momentum Group Limited                                                          
Registration number                                                             
1904/002186/06                                                                  
("Momentum")                                                                    
Strong Debt Rating for Momentum                                                 
The international credit rating agency Fitch Ratings (Fitch) has assigned       
Momentum Group a National Insurer Financial Strength Rating of `AA+ (zaf)" and a
National Long-term Rating of `AA (zaf)".  Momentum is a wholly owned subsidiary 
of FirstRand Limited.  According to Fitch: "Momentum"s rating reflects its      
position within this group as an integrated financial services provider."       
The Financial Strength Rating of AA+ reflects Momentum"s robust solvency        
position from the perspective of policyholders while the Long Term Rating of AA 
reflects the excellent solvency position from the perspective of other          
creditors.                                                                      
"We are pleased with the favourable credit rating assigned to Momentum", said EB
Nieuwoudt, Managing Director of the Momentum Group.  According to Fitch: "The   
ratings reflect Momentum"s strong business position in South Africa, solid      
capital position, robust new business profit margins and very strong operating  
performance."                                                                   
Fitch continued: "The rulings made by the Pension Funds Adjudicator continue to 
cause uncertainty in the South African life industry. ... Fitch believes that   
compared to peers, Momentum has a relatively low exposure to the PFA rulings.   
This is due to its low historical market share of retirement annuities. Fitch is
further comforted by Momentum"s pro-active and responsive attitude and range of 
new generation products."                                                       
Nieuwoudt concluded: "Momentum Group commissioned the credit rating as part of  
Momentum"s ongoing capital management programme.  This rating enables Momentum  
to be more flexible in our utilisation of alternative sources of capital which  
might include the issuing of subordinated debt instruments."                    
Ends                                                                            
21 November 2005                                                                
Contacts:                                                                       
EB Nieuwoudt, Managing Director Momentum Group 012 - 671 8463                   
Asokan Naidu, CFO Momentum Group 012 - 673 7365                                 
Gerhard Kruger, Head Capital Management Momentum Group 012 - 673 7211, 082 801  
3576012 - 673 7211, 082 801 3576                                                
Date: 21/11/2005 02:39:02 PM Supplied by www.sharenet.co.za                     
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