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JSE LIMITED - Index Change Advice 20121212

Release Date: 12/12/2012 17:10
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Index Change Advice 20121212

                Shareholder Weighted (SWIX) Index Methodology
                         FTSE/JSE Africa Index Series

                                          12 December 2012
 FTSE/JSE has undertaken significant market research on the SWIX Index methodology
 over the past year through consultative papers, workshops and direct client visits.

 The FTSE/JSE Advisory Committee (AC) met today to discuss and approve the SWIX
 methodology which will be effective from 18 March 2013, and to confirm that the SWIX
 free float will move from a banded methodology to an actual methodology from March
 2013.

 New SWIX Index Methodology:

 Under the new methodology all constituents will be down-weighted in the SWIX indices
 by applying an alternate free float, called the SWIX free float. The SWIX free float
 represents the proportion of a constituent’s share capital that is held in dematerialised
 form on the South African share register. This information is obtained from Strate
 (Strate is the authorised Central Securities Depository for the electronic settlement of
 financial instruments in South Africa).

 An average of the total holdings on the South African share register, in the 3 months
 prior to the review month, with a one month lag, is used to calculate the SWIX free float.
 In the event that this figure is not available, the FTSE/JSE company free float is used.
 Where the company’s free float is lower than its SWIX free float, the company free float
 will be used.

 In addition all securities deemed not available for local trade, but included on the Strate
 register will be subtracted from the free float number calculated as per above. This will
 initially include holdings confirmed to back a listed, sponsored Depositary Receipt (DR)
 program.



Min          Strate Register           Company Free Float
                                  ;                                  - Locally unavailable scrip
         Total Listed Shares



 The Ground Rules will be updated in due course to reflect this amendment.

 Listing of actual SWIX free float numbers that will be applied in March 2013 are available
 – please email indices@jse.co.za


 FREE TRIAL OFFER: FTSE offers free one month index trials to interested clients. For further information or
 general enquiries please contact us at info@ftse.com or indices@jse.co.za or call:
Client Services   in UK:                       Tel: +44 (0) 20 7866 1810
Client Services   in Europe, Middle East &     Tel: +44 (0) 20 7866 1810
Africa:
Client Services   in US:                          Tel: +1 888 747 FTSE (3873) or +1 212 314 1139
Client Services   in Asia Pacific:                Tel: +852 2164 3333 or +65 6223 3738 or +81 3 3581
                                                  2811
 JSE Limited:                                     Tel: (+27 11) 520 7106 or + (+27 11) 520 7137
Alternatively please visit our website at www.ftse.com or www.ftsejse.co.za
FTSE/JSE has done market research over the past year by distributing several market
consultations and meeting with market participants to improve the SWIX methodology.

The FTSE/JSE Advisory Committee (AC) met today to discuss and approve the SWIX
methodology which will remain unchanged / be effective from 18 March 2013.




SWIX Index Methodology Remains Unchanged:

The AC decided not to change the current SWIX Index Methodology. Please refer to the
FTSE/JSE Ground Rules for more information on the SWIX Index Methodology,
specifically Rule 1.3.11 and Appendix C.

Ground Rules: http://www.jse.co.za/Products/FTSE-JSE.aspx

New SWIX Index Methodology:

Under the new methodology all constituents will be down-weighted in the SWIX indices
by applying an alternate free float, called the SWIX free float. The SWIX free float
captures the proportion of a constituent’s share capital that is held in dematerialised
form and registered on the South African share register. This information is obtained
from Strate (Strate is the authorised Central Securities Depository for the electronics
settlement of all financial instruments in South Africa).

An average of the total holdings on the South African share register, in the 3 months
prior to the review month, with a one month lag, is used to calculate the SWIX free float.
In the event that this figure is not available, the FTSE/JSE company free float is used.
Where the company’s free float is lower than its SWIX free float, the company free float
will be used.

In addition all securities deemed not available for local trade (e.g. shares held to back
listed depositary receipts) will be subtracted from the free float number calculated as per
above.



    Min
                  Strate Total             Indicative Actual Company
                                       ;   Free Float                    - Confirmed DR %
                       JSE SII




The Ground Rules will be updated in due course to reflect this amendment.

Data subscribers can request indicative SWIX weights by mailing Indices@jse.co.za


FREE TRIAL OFFER: FTSE offers free one month index trials to interested clients. For further information or
general enquiries please contact us at info@ftse.com or indices@jse.co.za or call:

Client Services in UK:                           Tel: +44 (0) 20 7866 1810
Client Services in Europe, Middle East &         Tel: +44 (0) 20 7866 1810
Africa:
Client Services in US:                           Tel: +1 888 747 FTSE (3873) or +1 212 314 1139
Client Services in Asia Pacific:                 Tel: +852 2164 3333 or +65 6223 3738 or +81 3 3581
                                                 2811
JSE Limited:                                     Tel: (+27 11) 520 7106 or + (+27 11) 520 7137

Alternatively please visit our website at www.ftse.com or www.ftsejse.co.za
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Date: 12/12/2012 05:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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