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SLM - Sanlam Limited - Changes in directorship Sanlam Limited (Incorporated in the Republic of South Africa) (Registration number 1959/001562/06) JSE share code: SLM NSX share code: SLA ISIN number: ZAE000070660 ("Sanlam" or "the company" or "the Group"} Changes in directorship Notification is hereby given in accordance with the JSE Limited Listings Requirements of the following changes in the directorship of Sanlam: Roy Andersen, the non-executive chairman of the Board has indicated that he wishes to step down as chairman and a director of the company at the annual general meeting to be held on 9 June 2010 at which time he will have completed two three-year terms as a director. He served as non-executive chairman since June 2004. Patrice Motsepe who is one of South Africa`s leading entrepreneurs and is deputy chairman of the Board and also leader of Sanlam`s anchor empowerment shareholder, Ubuntu-Botho was unanimously requested to accept the position of Chairman of Sanlam. Mr Motsepe however humbly indicated that due to his extensive business commitments and obligations, he was unfortunately not in a position to accept this appointment. The Board thereafter proceeded to unanimously appoint Desmond Smith as chairman- elect to succeed Mr Andersen on 9 June 2010. He is currently an independent non- executive director of Sanlam and chairman of Santam Limited ("Santam"). Mr Motsepe commented: "We are sorry that Roy has decided to step down as chairman and, while he will still be chairman until June next year, I would like to express my appreciation and gratitude to him for the exemplary and outstanding manner in which he has served the company and all its stakeholders as Chairman of the Sanlam Board. While I humbly regret that I am not in a position to accept the chairmanship of Sanlam because of my extensive business commitments and obligations, I am pleased that we can announce the appointment of a person with Desmond`s skills and vast experience of the industry as chairman-elect of our Group. Sanlam is a truly South African company and is committed to ensuring that our business and employment practices reflect the demographics and rich cultures and traditions of all our people", Motsepe concluded. The Sanlam Board also announced the appointment of Dr Yvonne Muthien (53) and Temba Mvusi (54) as executive directors on the Boards of Sanlam and Sanlam Life Insurance Limited with immediate effect. Dr Muthien will hold the portfolio of Chief Executive: Group Services on the Executive Committee of Sanlam and Mr Mvusi the portfolio of Chief Executive: Market Development of Sanlam. Notes: Desmond Smith joined Sanlam in 1968, where he became Managing Director in 1993. He retired from Sanlam at the end of 1997 and served as Managing Director of the Reinsurance Group of America (South Africa) (RGA) from 1999 until 2005 He is a Past President of the Pensions Institute of Southern Africa and of the Actuarial Society of South Africa. He currently serves on a number of the committees of the Society and the International Actuarial Association. He was Chairman of the Life Offices Association of South Africa (LOA) in 1996, 2004 and 2008. He is past Chairman of the Council of Stellenbosch University, serves on the Advisory Board of the University`s Graduate School of Business and is Chairman of the Stellenbosch Institute for Advanced Studies (STIAS). He serves on the Advisory Committee on Long-term Insurance and the Council of the Ombudsman for Long-term Insurance. Dr Muthien is currently a scenario and strategy consultant and former Vice President and Director of Strategic Projects, Public Affairs and Communications of the Coca-Cola Africa Group. Prior to that she was Group Executive: Corporate Affairs of MTN Mobile, a director of the South African Democracy Education Trust, an executive director of the Human Sciences Research Council and a commissioner of the Public Service Commission. She currently serves on the boards of Sentech, Aurecon and the Sasol Inzalo Foundation. She has also been the chairperson of the President`s Advisory Council on National Orders since 1998. Temba Mvusi is currently Chief Executive: Group Market Development of Sanlam, Executive Head: Market Development at Santam and also a member of Sanlam`s Exco. He was a former general manager of Gensec and joined Sanlam Investment Management in 2001 as head of business development before becoming chief executive of Group Services at Sanlam in 2004. He earlier held a number of positions in the private sector as well as in Government. He currently serves on the Council of the Walter Sisulu University as well as Bishops and he is a director of Sanlam Development Markets, Sanlam Investment Management (Pty) Ltd, Sanlam Private Investments (Pty) Ltd, National Business Initiative, South African Master Distributors, John Daniel Holdings Limited, Millbloem 60 (Pty) Ltd and Any Name 370 (Pty) Ltd. Bellville 3 December 2009 Sponsor Deutsche Securities (SA) (Proprietary) Limited Date: 03/12/2009 10:07:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. 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