ABL/ABLP - African Bank Investments Limited - Postponement of proposed placing

ABL/ABLP - African Bank Investments Limited - Postponement of proposed placing  
and issue of a further 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 Company")                                                       
POSTPONEMENT OF PROPOSED PLACING AND ISSUE OF A FURTHER TRANCHE OF PREFERENCE   
SHARES                                                                          
Interested parties are referred to previous announcements regarding the fact    
that ABIL has recently been in the process of preparing to issue a further      
tranche of preference shares as part of a general capital management programme. 
The Minister of Finance, Minister Pravin Gordhan, announced in the budget speech
on Wednesday, 22nd February 2012, that the new so-called "dividend tax" will,   
along with the abolition of the Secondary Tax on Companies ("STC"), be          
introduced at the rate of 15% instead of the 10% rate that the market had       
generally anticipated. The Company wishes to reiterate that its articles of     
association were amended in March 2010 to ensure that dividends payable to      
preference shareholders will be increased ("grossed-up") after the dividend tax 
law change becomes effective. This increase will be equal to the entire STC     
saving that the Company receives per preference share as a result of the        
dividend tax law change becoming effective. ABIL wishes to devote appropriate   
time to review the impact of the budget speech announcement on its preference   
share offering and interested parties are accordingly advised that it has taken 
the decision to postpone its proposed issue of new preference shares until      
further notice.                                                                 
For further information, interested parties can contact:                        
Steven Kahanovitz at (011) 564 6709, or                                         
Gavin Jones at (011) 564 6868.                                                  
Midrand                                                                         
27 February 2012                                                                
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 27/02/2012 09:39:01 Supplied by www.sharenet.co.za                     
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