ABSP - ABSA Bank Limited - ABSA Bank Limited: The increase in the dividend

ABSP - ABSA Bank Limited - ABSA Bank Limited: The increase in the dividend      
tax and its effect on ABSA Bank Limited non-cumulative non-redeemable           
Preference Shares                                                               
ABSA BANK LIMITED                                                               
Registration number: 1986/004794/06                                             
Authorised financial services and registered credit provider (NCRCP7)           
Incorporated in the Republic of South Africa                                    
ISIN: ZAE000079810                                                              
JSE share code: ABSP                                                            
(Absa Bank)                                                                     
ABSA BANK LIMITED: THE INCREASE IN THE DIVIDEND TAX AND ITS EFFECT ON ABSA      
BANK LIMITED NON-CUMULATIVE NON-REDEEMABLE PREFERENCE SHARES                    
Holders of Absa Bank non-cumulative non-redeemable preference shares (ABSP      
Preference Shares) are referred to our SENS announcement of 6 February 2012     
dealing with dividends payable in respect of the ABSP Preference Shares         
being adjusted (grossed up) and the 2012 Budget Speech presented by the         
Minister of Finance on 22 February 2012, during which it was announced that     
dividend tax is to be levied at a rate of 15%.                                  
As stated in our 6 February 2012 SENS announcement, "the gross-up will be       
limited to the introduction of the dividend tax in its current form and         
does not extend to any future amendments thereto". The "current form" of        
the dividend tax at the time of the 6 February 2012 SENS announcement was       
10%.                                                                            
Absa will maintain this position and  accordingly symbol "B" in the formula     
referred to under "Entitlements to dividends" in the pre-listing statement      
will be increased from 63% to 70% as stated in our SENS announcement of 6       
February 2012, subject to approval by holders of ABSP Preference Shares at      
the general meeting on Wednesday, 14 March 2012.                                
Johannesburg                                                                    
9 March 2012                                                                    
Sponsor:                                                                        
J.P. Morgan Equities Limited                                                    
Enquiries:                                                                      
Alan Hartdegen (Head of Investor Relations)                                     
Telephone: (+27 11) 350 5926                                                    
Telefax: (+27 11) 350 5924                                                      
E-mail: Investorrelations@absa.co.za                                            
Date: 09/03/2012 12:57:01 Supplied by www.sharenet.co.za                     
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