Moody’s affirms African Bank credit ratings, revises outlook 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”) African Bank Limited (Incorporated in the Republic of South Africa) (Registration No. 1975/002526/06) Company code: BIABL (“African Bank” or “the bank”) MOODY’S AFFIRMS AFRICAN BANK CREDIT RATINGS, REVISES OUTLOOK ABIL announces that Moody’s Investors Service (“Moody’s” or “the agency”) affirmed all issuer ratings for African Bank which included the banks’ global scale ratings of Baa2. Moody’s revised African Bank’s outlook on senior debt and deposit ratings to negative from stable. The change in outlook was prompted by the weakening of the South African government’s credit profile, as captured by Moody’s downgrade of South Africa’s government bond rating to Baa1 (negative) from A3 (negative) on 27 September 2012. The outlook change was not driven by a deterioration in the standalone financial strength of African Bank. The agency commented that the affirmed standalone credit strength reflects the banks’ valuable niche franchise as South Africa’s largest specialised unsecured credit provider and its good loss absorption capacity underpinned by strong profitability and a solid capitalisation cushion. Although the agency noted the banks credit strength to be constrained by its dependence on wholesale funding and the high credit risk inherent in its client base, which leads to non performing loans, the bank was expected to continue to benefit from its focussed strategy, efficient operational structure and sound credit risk management practices. The long-term senior unsecured debt ratings of Baa2 and (P)Baa2 under its EMTN programme remain unaffected. The outlook was changed to negative from stable. The provisional foreign- currency subordinated debt rating of (P)Ba1 (stable outlook) under its EMTN programme remain unaffected. The national-scale issuer ratings of A1.za/P-1.za remain unaffected. 5 October 2012 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 05/10/2012 03:33:00 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.