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SNT / SLM - Santam / Sanlam - Announcement to Santam Shareholders SANTAM LIMITED (Incorporated in the Republic of South Africa) (Registration number 1918/001680/06) JSE share code: SNT NSX share code: SNM ISIN: ZAE000006854 ("Santam") SANLAM LIMITED (Incorporated in the Republic of South Africa) (Registration number 1959/001562/06) JSE share code: SLM NSX share code: SLA ISIN: ZAE000070660 ("Sanlam") ANNOUNCEMENT TO SANTAM SHAREHOLDERS Shareholders of Santam are referred to the circular posted to them on Wednesday, 7 March 2007 relating to, inter alia, an offer by Sanlam to purchase Santam shares tendered in excess of 10% of Santam`s issued ordinary shares (the "Sanlam offer"). The Sanlam offer is subject to, inter alia, approval by the Registrar of Short-term Insurance (the "Registrar"), which approval is still awaited. The Registrar`s approval of the Sanlam offer will not affect the closing date of Friday, 20 April 2007. However, failing such timeous approval, implementation of the Sanlam offer will be delayed until such approval has been obtained. An announcement will be released on SENS notifying Santam shareholders once such approval has been obtained and, if required, any amendments to the settlement date of the Sanlam offer.
Santam shareholders are reminded that they will not be able to and should not trade in their Santam shares which have been tendered pursuant to the Sanlam offer, until the Sanlam offer is capable of being implemented, which date may be later than the implementation date initially envisaged. In the event that the Registrar`s approval is not obtained before Thursday 31 May 2007, the Sanlam offer will not become operative and the transfer secretaries will, within five business days, return the documents of title received from certificated Santam shareholders to them. Bellville 26 March 2007 Merchant bank and transaction sponsor Financial adviser and transaction to Santam sponsor to Sanlam RAND MERCHANT BANK DEUTSCHE SECURITIES (A division of FirstRand Bank Limited) Sponsor to Santam and Sanlam in Legal advisers to Sanlam Namibia JOWELL GLYN & MARAIS Simonis Storm Securities Date: 26/03/2007 08:30:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.
