BIBAY - Bayport Securitisation (RF) Ltd - Supplement to the Programme

BIBAY - Bayport Securitisation (RF) Ltd - Supplement to the Programme           
Memorandum                                                                      
Bayport Securitisation (RF) Ltd                                                 
(Incorporated with limited liability in the Republic of South Africa)           
(Registration number M2008/003557/06)                                           
Formerly called Bayport Securitisation (Proprietary) Limited                    
(with registration number 2008/003557/07)                                       
("Bayport Securitisation" or the "Company")                                     
SUPPLEMENT TO THE PROGRAMME MEMORANDUM                                          
On 20 May 2011, Bayport Securitisation registered a Programme Memorandum        
(the "Programme Memorandum"), to launch its ZAR4,400,000, 000 Asset Backed      
Note Programme. A supplement to the Programme Memorandum dated 22 September     
2011 (the "Supplement") has been issued for the purpose of updating the         
Programme Memorandum in various respects, namely:                               
(i)  to incorporate information regarding the conversion of Bayport             
Securitisation from a private company to a public company and to make       
    consequential amendments to the Programme Memorandum resulting from         
    this conversion;                                                            
(ii) to incorporate information regarding the transfer of the Collection        
Accounts from BFS 2003 to BFS and to update information regarding the       
    schedule of bank accounts referred to in Appendix 4 to the Programme        
    Memorandum;                                                                 
(iii) to provide updated information regarding the conclusion and               
implementation of warehousing facility agreements;                          
(iv)      to make certain corrections in the Programme Memorandum regarding     
    the reference to stock codes and the issue date of Notes referred to        
    therein;                                                                    
(v)  to update certain disclosures regarding South African law resulting        
    from the implementation of the Companies Act, No.71 of 2008,as              
    amended.                                                                    
The Supplement is supplemental to, and should be read in conjunction with       
the Programme Memorandum. The Supplement and the Programme Memorandum are       
available for download from Transaction Capital (Proprietary) Limited`s         
website at http://www.transactioncapital.co.za/baysecdebt.aspx                  
26 September 2011                                                               
Debt Sponsor                                                                    
Deutsche Securities (SA)(Proprietary) Limited                                   
Date: 26/09/2011 15:17:18 Supplied by www.sharenet.co.za                     
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