PIK - Pick n Pay Stores Limited - lists a Domestic Medium Term Note Programme

PIK - Pick n Pay Stores Limited - lists a Domestic Medium Term Note Programme   
on the Interest Rate Market of the Johannesburg Securities Exchange             
Pick n Pay Stores Limited                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number:  1968/008034/06)                                          
Share Code:  PIK   ISIN code: ZAE000005443                                      
Pick n Pay Stores Limited lists a Domestic Medium Term Note Programme on the    
Interest Rate Market of the Johannesburg Securities Exchange ("the JSE")        
Pick n Pay Stores Limited ("Pick n Pay") is pleased to announce that it has     
listed a Domestic Medium Term Note programme (the "DMTN programme") on the      
JSE and has successfully raised an initial R500 million under the DMTN          
programme. The notes issued mature in 3 months from the date of issue and       
bear interest at the 3 month Johannesburg Inter-bank acceptance Rate plus a     
margin of 0.24%.                                                                
The DMTN Programme will enable Pick n Pay to access short and long term         
funding, diversify its funding sources,  enhance its liquidity position  and    
provide funding flexibility. The DMTN will be utilised to fund its capital      
expansion expenditure and working capital as required. A maximum aggregate      
amount that can be in issue under the programme is limited to R2 billion.       
Investec Bank Limited is the Sole Arranger and Sponsor on the programme and     
joint Dealer with ABSA Capital.                                                 
Details of the notes are:                                                       
- Bond Code              :     PnP01                                            
- Settlement Date        :     18 March 2011                                    
- Principal Amount       :     R500 million                                     
- Maturity Date          :     17 June 2011                                     
- Listing                :     JSE (Interest Rate Market)                       
- Fixed Interest Rate    :     5.815%                                           
- Issue Spread           :     24 bps over 3 month Jibar                        
For further information please  contact:                                        
Pick n Pay:                         Mr Bakar Jakoet  (+2721) 658 1000           
Investec Bank Limited:              Mr Rick Lupini   (+2721) 416 3301           
                                   Ms Jeanine Polley (+2711) 286-4824           
By order of the board                                                           
Cape Town                                                                       
18 March 2011                                                                   
Sponsor:                                                                        
Investec Bank Limited                                                           
Date: 18/03/2011 12:37:33 Supplied by www.sharenet.co.za                     
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