FSR - Firstrand Limited - Press Release: Firstrand Benefits From Visa IPO

FSR - Firstrand Limited - Press Release: Firstrand Benefits From Visa IPO       
FIRSTRAND LIMITED                                                               
(Incorporated in the Republic of South Africa)                                  
Registration number: 1966/010752/06                                             
ISIN: ZAE000066304                                                              
Share Code: FSR                                                                 
Namibian Share Code: FST                                                        
("FirstRand")                                                                   
PRESS RELEASE: FIRSTRAND BENEFITS FROM VISA IPO                                 
FirstRand confirms that it has received a pre-tax gain of $123 million from its 
shareholding in Visa Inc following the issue of shares to FNB, a division of    
FirstRand Bank (the Bank) as part of VISA`s recent IPO on the New York Stock    
Exchange. The gain represents $69 million from the sale of 56% of the Bank`s    
total shareholding and $54 million is the fair value of the remaining portion,  
within which the Bank remains locked for a 3 year period.                       
The gain will not be included in FirstRand Limited or FirstRand Bank`s          
normalised earnings for the year to 30 June 2008 but will benefit the Bank`s    
capital position.                                                               
Sandton                                                                         
3 April 2008                                                                    
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 03/04/2008 11:04:44 Supplied by www.sharenet.co.za                     
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