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ZSA - Zurich Insurance Company South Africa Limited - Disposal of equity interest in Escape Premium Collection (Pty) Limited Zurich Insurance Company South Africa Limited Incorporated in the Republic of South Africa (Registration Number 1965/006764/06) ISIN: ZAE000094496 Share Code: ZSA ("Zurich SA") DISPOSAL OF EQUITY INTEREST IN ESCAPE PREMIUM COLLECTION (PTY) LIMITED Zurich SA shareholders are referred to the announcement released by Escape Premium Collection (Pty) Limited ("Escape") today regarding the process entered into by Zurich SA to dispose of its equity interest in Escape. "Escape announced that its shareholder, Zurich SA, has entered into an agreement to sell its interest to Premium Financing Solutions (Pty) Ltd ("PFS") ("the proposed Transaction"). The Escape business of premium collection has been a non-core activity for Zurich SA and the Escape Board has been investigating the possibility of aligning the business with that of a shareholder for whom the business provides a better strategic fit. The proposed Transaction is subject to regulatory sanction (which includes the approval of the South African competition authorities) and could take between 6 to 9 weeks to complete. PFS is already a major player in the premium financing and collection business and the Escape Board believes that the proposed Transaction should complement the existing offering of both companies to the insurance market. Collectively, the executive management at PFS have in excess of 30 years` experience in the insurance, premium finance and premium collection business and the Escape Board is confident that they have both the financial backing and experience to ensure the continuity of the excellent service customers have received from Escape over the years." Johannesburg 6 December 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 06/12/2011 16:00:01 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.
