DISTRIBUTION ANNOUNCEMENT STANLIB TOP 40 FUND ("STANLIB40")(being a portfolio under the STANLIB ETF CIS registered in the Republic of South Africa in terms of the Collective Investment Schemes Control Act CISCA) Share Code: STAN40 Abbreviated Name: STANLIB40 ISIN: ZAE000148425 ("STAN40") DISTRIBUTION ANNOUNCEMENT Holders of STANLIB40 securities ("Securities Holders") are referred to the announcement dated Thursday, 19 July 2012 setting out details of a possible quarterly distribution by the ETF to Securities Holders. Further to the above mentioned announcement, the manager of the STANLIB ETF Collective Investment Scheme(the Manager) has resolved to make a quarterly distribution to Securities Holders for the quarter ended 30 June 2012 ("the Distribution") in an amount of 26.88000 cents per STANLIB40 ETF security. The distribution will be constituted as follows : Dividend (local non taxable -pre DWT) : 1.94 cents Gross Dividend (local) to be taxed : 23.37 cents Dividend (local STC credits) : 0.11 cents Net taxable : 23.26 cents Dividend Withholding Tax : 3.48900 cents (15%) Net dividend : 19.88100 cents Gross Dividend (foreign-dual listed shares): 1.36 cents Dividend Withholding Tax : 0.20400 cents (15%) Dividend (foreign-withholding tax) : (0.04) cents (2.941%) Net Dividend : 1.15600 cents Other : 0.14 cents [manufactured dividend/interest] The Security Holders who are not exempt from dividend tax will receive the Net Dividend. Securities Holders should be aware that this distribution includes the special dividend paid by Old Mutual Limited (OML) on 7 June, 2012. Special dividends are capital events from an indexation perspective and are usually reinvested in the portfolio, however this particular special dividend is subject to Dividend Withholding Tax (DWT) and consequently is required to be dealt with differently. Accordingly, the Manager has resolved, rather than reinvesting the special dividend into the portfolio, to distribute the special dividend to investors to enable the necessary deduction of DWT for payment to SARS. This will result in the value of each security representing 1/1003 of the index rather than 1/1000th . The Manager is in the process of obtaining the necessary approval to consolidate the securities, in order to reduce the number of securities in issue and thereby increase the value of each security. This will ensure that each security again represents 1/1000th of the FTSE/ JSE TOP40 index. The value of the OML special dividend is 9.23 cents per ETF security. The Distribution will be made to all Securities Holders recorded in the register on Friday, 29 June 2012 and will be paid on Friday, 03 August 2012. Johannesburg 27 July 2012 Sponsor The Standard Bank of South Africa Limited Date: 27/07/2012 01:21:00 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.