MFS1A1 ; MFS1A2 and MFS1B - Rating downgrade of Commissioner Street No. 1 by Moody's Investors Service COMMISSIONER STREET NO. 1 (PTY) LIMITED Bond Codes: ISIN Codes: MFS1A1 ZAG000082793 MFS1A2 ZAG000082801 MFS1B ZAG000082819 RATING DOWNGRADE OF COMMISSIONER STREET NO. 1 BY MOODY’S INVESTORS SERVICE ("MOODY’S") Notice is hereby given that Moody’s has on 12 October 2012 downgraded the global scale local- currency rating of the Class A1 and Class A2 senior notes from Aaa(sf) to A1(sf) ratings due to the revision of South Africa’s local currency ceiling on a global scale and its local currency ceiling for debt and deposits. The notes, however, retain their Aaa.za national scale rating. As detailed in their report of 12 October 2012, the downgrade was prompted by “Moody’s updated view that the transaction is exposed to some of the country’s risks reflected in South Africa’s local- currency ceiling on the global scale, and the lowering of Moody’s local-currency ceiling for debt and deposits to A1 from Aa2” of South Africa’s government bonds. According to the report, since all payments in connection with the transaction transit through South Africa’s payment system, the transaction could no longer pierce the country ceiling. The complete ratings report is available for download from the Moody’s Investors Service website. Johannesburg 16 October 2012 Debt sponsor Absa Capital (the investment banking division of Absa Bank Limited, affiliated with Barclays) Date: 16/10/2012 10:57:00 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.