ABL/ABLP - African Bank Investments Limited - Results of private

ABL/ABLP - African Bank Investments Limited - Results of private                
placement of a Tranche of Preference Shares                                     
AFRICAN BANK INVESTMENTS LIMITED                                                
(Incorporated in the Republic of South Africa)                                  
(Registered bank controlling company)                                           
(Registration number 1946/021193/06)                                            
(Ordinary share code: ABL) (ISIN: ZAE000030060)                                 
(Preference share code: ABLP) (ISIN: ZAE000065215)                              
("ABIL" or "the group")                                                         
RESULTS OF PRIVATE PLACEMENT OF A TRANCHE OF PREFERENCE SHARES                  
Introduction                                                                    
Shareholders are referred to ABIL`s announcements of 21 February 2011           
and 1 July 2011 in which shareholders were advised of the private               
placement to selected investors of ABIL variable-rate, perpetual, non-          
cumulative, non-participating preference shares ("preference shares"),          
pursuant to receipt of approval for a specific issue for cash.                  
Results of private placement                                                    
A joint bookbuilding process was run by Absa Capital (the investment            
banking division of Absa Bank Limited, and affiliated with Barclays             
Capital) and Investec Capital Markets (a division of Investec Bank              
Limited), which closed on 19 July 2011.                                         
In aggregate, R242,619,517.25 in cash was raised pursuant to the private        
placement. ABIL has allocated 3,042,251 preference shares at an issue           
price per preference share of R79.75, including accrued dividends, (the         
"additional preference shares") to selected investors (not being persons        
considered to be non-public shareholders or related parties to the              
Company in terms of the JSE Limited Listings Requirements and subject to        
minimum subscription limits per principal institutional investor, (as           
contemplated in section 96(1)(a) of the Companies Act, 2008) of R100 000        
and per non-institutional investor of R1 000 000.)                              
The additional preference shares, which will rank pari passu with the           
preference shares already in issue, will be issued and listed on the JSE        
on Tuesday, 26 July 2011.                                                       
The capital raised through the issue will be applied towards the                
subscription by ABIL of ordinary shares in its wholly owned subsidiary,         
African Bank Limited.                                                           
Enquiries may be directed to Steven Kahanovitz                                  
(skahanovitz@africanbank.co.za).                                                
Midrand                                                                         
21 July 2011                                                                    
Arranger, Transaction Sponsor and Joint Bookrunner                              
Absa Capital                                                                    
(the investment banking division of Absa Bank Limited and affiliated            
with Barclays Capital)                                                          
Joint Bookrunner                                                                
Investec Capital Markets                                                        
(a division of Investec Bank Limited)                                           
Legal Adviser to ABIL                                                           
Prinsloo, Tindle & Andropoulos Inc                                              
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 21/07/2011 17:40:01 Supplied by www.sharenet.co.za                     
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