GEN - FTSE/JSE Africa Index Series - Dividend Withholding Tax in the Total

GEN - FTSE/JSE Africa Index Series - Dividend Withholding Tax in the Total      
Return Indices                                                                  
Dividend Withholding Tax in the Total Return Indices                            
FTSE/JSE Africa Index Series                                                    
13 February 2012                                                                
Total Return Indices in the FTSE/JSE Africa Index Series are currently          
calculated using dividends at their declared rate.  The dividend taxation       
regime is changing from 01 April 2012 with the implementation of a Dividend     
Withholding Tax at a rate of 10%.                                               
At their meeting on 07 December 2011, the FTSE/JSE Advisory Committee           
determined that, from 01 April 2012, the net dividend rate would be used        
when calculating ex-dividend adjustments in all FTSE/JSE Total Return           
Indices.  Notes from the meeting were published in January 2012, and the        
updated calculation guide with the precise numerical treatment will be          
published shortly after the March 2012 Advisory Committee.  Two index values    
will continue to be published for each index in the Series: a capital, or       
price, index level, and a total return index level.  The inclusion of           
dividends on a net basis is consistent with the current treatment of            
dividends in the Series.                                                        
Index users that will not be able to continue their use of the Total Return     
Indices on a net dividend basis are requested to submit details of the          
impact to indices@jse.co.za by Friday, 24 February 2012.  All comments will     
be consolidated and presented to the FTSE/JSE Advisory Committee meeting on     
07 March 2012.                                                                  
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+81 3 3581 2811                                                                 
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Date: 13/02/2012 17:20:01 Supplied by www.sharenet.co.za                     
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