ALEXANDER FORBES PREF SHARE INV LTD - Alexander Forbes Equity Holdings Proprietary Limited receives expressions of interest in Guardrisk

Alexander Forbes Equity Holdings Proprietary Limited receives expressions of interest in Guardrisk

Alexander Forbes Preference Share Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/031561/06)
Share code: AFP
ISIN number: ZAE000098067
(“AF Pref”)


ALEXANDER FORBES EQUITY HOLDINGS PROPRIETARY LIMITED RECEIVES
EXPRESSIONS OF INTEREST IN GUARDRISK

Alexander Forbes Equity Holdings Proprietary Limited (“EquityCo”
or “the Group”) has, over a number of months, received expressions
of interest in Guardrisk Holdings Limited (“the Company” or
“Guardrisk”), a subsidiary of EquityCo, from several parties. The
EquityCo Board has now mandated the Group executive to explore and
consider these approaches formally.

Edward Kieswetter says the market interest in Guardrisk is
attributable to the company’s unique value proposition and
strength, as well as its status as an acknowledged local and
global market leader in its sector.

Guardrisk is the largest cell captive insurance group of its kind
and a leading provider of alternative risk transfer. The company
offers short-term and life insurance, as well as underwriting and
administration management. It operates in South Africa, Gibraltar,
Mauritius and Namibia.

Kieswetter says any decision related to Guardrisk will be
considered in the context of the overall strategic intent of
Alexander Forbes to position the Group for growth. This is being
achieved by strengthening the Group’s institutional capacity,
which will allow it to maintain its organic growth trajectory over
the next three years.

The Group will, over the next three years, continue to pursue
organic growth in our corporate client base, as well as in three
additional and specific target markets of retail (individuals),
public sector and the African continent.

The process is subject to the normal Board and other approvals and
AF Pref linked unitholders and stakeholders will be kept updated
on developments.

Johannesburg
20 May 2013

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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