REPUBLIC OF SOUTH AFRICA - INTEREST PAYMENT NOTICE

INTEREST PAYMENT NOTICE

Department:National Treasury
REPUBLIC OF SOUTH AFRICA

INTEREST PAYMENT NOTICE (NEW BOND)

Instrument Type:                        Inflation Linked Bond
Bond Name:                              I2038 2.25% 2038
ISIN Code:                              ZAG000096595
Authorised Programme size:              R20, 000,000,000.00
Nominal issued:                         R940, 000,000.00
Coupon:                                 2.25%
Maturity Date:                          31 January 2038
Interest Commencement Date:             31 January 2012
Interest Payment Dates:                 31 July, 31 January
Book Close:                             21 July, 21 January
Index:                                  123.0838709677419
Base Index:                             122.6483870967742
Index Ratio:                            1.003550669366929


The Standard General Conditions of Issue applicable to RSA Internal Registered Bond
will apply.


Transfer of this bond may be affected electronically by book entry with the Central
Depository. The bond register is kept with the Asset and Liability Management branch of
the National Treasury in Pretoria.


For further information on the bond issue please contact:


DIRECTOR: DEBT OPERATIONS              JOHAN KRYNAUW (012) 315 5275

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