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ABL/ABLP - African Bank Investments Limited - Changes to the board of Directors and Board Commitees AFRICAN BANK INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1946/021193/06) (Ordinary share code: ABL) (ISIN: ZAE000030060) (Preference share code: ABLP) (ISIN: ZAE000065215) ("ABIL" or "the group") CHANGES TO THE BOARD OF DIRECTORS AND BOARD COMMITEES In compliance with the JSE Limited Listings Requirements, the following information is disclosed: ABIL has an approved term limit policy in respect of its board of directors ("the board"), whereby the Chairman`s service tenure is limited to a maximum of ten years and other Non-Executive Directors to a maximum of eight years in total. In terms of this policy, David Braidwood Gibbon (Non-Executive Director) and Ashley Tugendhaft (Non-Executive Director) have reached their term limit and therefore will retire from the boards of both ABIL and African Bank Limited with effect from 31 March 2011. The boards of ABIL and African Bank Limited express their sincere appreciation to David and Ashley for the contribution that they have made to the success of the group over the period of their tenure. At the same time, the board is pleased to announce the appointment of two Independent Non-Executive Directors, namely Ntombi Langa Royds and Jack Koolen, to the boards of ABIL and African Bank Limited with effect from 15 March 2011. Ntombi holds an LLB degree and has 24 years experience in the Human Resources Environment. She started a wholly owned black female corporation, Nthake Consultants CC, in 1999, specialising in HR Management and allied services. Jack is an independent advisor. In addition, he lectures, on a part-time basis, at the Gordon Institute of Business Studies since 2001, in the areas of strategy, competitiveness and choice, integrating insights from competitive strategy, logic systems and behavioral economics. He holds an MBA from the University of the Witwatersrand in Johannesburg (1989) and a B Comm from the Hogere Economische School in Groningen, Netherlands (1982). The retirement of David and Ashley and the appointment of Ntombi and Jack to the board have necessitated changes to the membership of the sub-committees of the board, details of which are as follows: Group Audit Committee Existing Constitution New Constitution David Gibbon (Chairman) Sam Sithole (Chairman) Nic Adams Johnny Symmonds Johnny Symmonds Nic Adams Sam Sithole Group Risk and Capital Management Committee Existing Constitution New Constitution Nic Adams (Chairman) Nic Adams (Chairman) Sam Sithole Johnny Symmonds Johnny Symmonds Mojanku Gumbi Oshy Tugendhaft Group Remuneration and Transformation Committee Existing Constitution New Constitution Mpho Nkeli (Chairperson) Ntombi Langa Royds(Chairperson) Mutle Mogase Mutle Mogase Oshy Tugendhaft Mojanku Gumbi Directors Affairs Committee Existing Constitution New Constitution Oshy Tugendhaft(Chairperson) Mutle Mogase (Chairman) David Gibbon Sam Sithole Nicholas Adams Nicholas Adams Mutle Mogase Mojanku Gumbi Mpho Nkeli Ntombi Langa Royds Midrand 15 March 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 15/03/2011 10:45:30 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. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
