ASA/ABSP - Absa Group Limited/Absa Bank Limited - Retirement of an

ASA/ABSP - Absa Group Limited/Absa Bank Limited - Retirement of an              
independent chairman and non-executive director of the Absa Group and Absa      
Bank Boards                                                                     
ABSA GROUP LIMITED                                                              
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1986/003934/06)                                           
ISIN: ZAE000067237                                                              
JSE share code: ASA                                                             
Issuer code: AMAGB                                                              
(Absa or Absa Group)                                                            
ABSA BANK LIMITED                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1986/004794/06)                                           
ISIN: ZAE000079810                                                              
JSE share code: ABSP                                                            
(Absa Bank)                                                                     
INTENTION TO STEP DOWN AS INDEPENDENT CHAIRMAN AND NON-EXECUTIVE DIRECTOR OF    
THE ABSA GROUP AND ABSA BANK BOARDS                                             
Garth Griffin, Chairman of the Absa Group and Absa Bank boards, has             
announced his intention to retire once a successor is appointed. Mr Griffin     
will be available for re-election as a director at the Absa Group Annual        
General Meeting on 3 May 2012 and, if re-elected, will continue to serve as     
Chairman until such time as a successor is appointed.                           
Mr Griffin has served on the Absa Group and Absa Bank boards since 2001 and     
took up the position of chairman of these boards on 1 October 2010.             
On behalf of all members of the board, Maria Ramos, Absa Group Chief            
Executive, said:  "Garth has brought strong leadership and years of             
experience in the financial sector to the Absa boards.  His contribution to     
our business over the past 11 years has been invaluable and we are grateful     
that he has offered to remain in his role as chairman until we have             
appointed a successor."                                                         
An announcement on Mr Griffin`s successor will be made in due course.           
Johannesburg                                                                    
14 March 2012                                                                   
Enquiries:                                                                      
Mr Alan Hartdegen - Head: Group Investor Relations                              
+27 (0)11 350 2598                                                              
e-mail: alan.hartdegen@absa.co.za                                               
Sponsor:                                                                        
J.P. Morgan Equities Limited                                                    
Date: 14/03/2012 11:00:01 Supplied by www.sharenet.co.za                     
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