NED - Nedbank Group - Forfeiture of restricted share plan shares held by

NED - Nedbank Group - Forfeiture of restricted share plan shares held by        
directors and company secretary                                                 
NEDBANK GROUP LIMITED                                                           
(Incorporated in the Republic of South Africa)                                  
Registration number: 1966/010630/06                                             
JSE share code: NED                                                             
NSX share code: NBK                                                             
ISIN: ZAE000004875                                                              
("Nedbank Group" or "the group")                                                
FORFEITURE OF RESTRICTED SHARE PLAN SHARES HELD BY DIRECTORS AND COMPANY        
SECRETARY                                                                       
The following restricted Nedbank Group ordinary shares held by executive        
directors, a non-executive director and the company secretary of Nedbank Group  
and Nedbank Limited as part of the Restricted Share Plan will be forfeited on 4 
March 2011:                                                                     
Number of                                                

                      restricted                                                
                          shares        Issue   Determination                   
Name                      awarded        price            date                  
MWT Brown                  38 613      R120,62    4 March 2011                  
(Chief executive)                                                               
GW Dempster                33 577      R120,62    4 March 2011                  
(Chief operating officer)                                                       
TA Boardman                60 167      R120,62    4 March 2011                  
(Former Chief executive, currently Non-executive director)                      
GS Nienaber                 8 394      R120,62    4 March 2011                  
(Company secretary)                                                             
These restricted shares were granted in terms of the Nedbank Group (2005) Share 
Option, Matched Share and Restricted Share Scheme on 4 March 2008.  The vesting 
of these shares was linked to the group`s achievement of predetermined          
performance-based vesting criteria, which have not been met.                    
Sandton                                                                         
3 March 2011                                                                    
Sponsors                                                                        
Merrill Lynch South Africa (Pty) Limited                                        
Nedbank Capital                                                                 
Date: 03/03/2011 10:42:00 Supplied by www.sharenet.co.za                     
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