SLI1 - Optional Redemption SANLAM LIFE INSURANCE LIMITED (Incorporated in the Republic of South Africa with limited liability under Registration Number 1998/021121/06) JSE code: SLI1 OPTIONAL REDEMPTION Sanlam Life Insurance Limited (the "Issuer") Pursuant to the Programme Memorandum dated 24 July 2006, the Issuer issued the SLI1 Notes (the Notes) with a final maturity date of 15 August 2018. The Notes are however, redeemable at the Issuers option on 15 August 2013 (Optional Redemption Date) in accordance with condition 9.3 (Redemption at the Option of the Issuer) of the Terms and Conditions of the Notes (as read with the Applicable Pricing Supplement). In terms of condition 17 (Notices) of the Terms and Conditions of the Notes, notice is hereby given to Noteholders that the Issuer has exercised its right to early redeem the Notes on 15 August 2013. Payment of the optional redemption amount, together with applicable interest, will be effected on Thursday 15 August 2013. The redemption of the Notes will amount to R1.16billion. Optional Redemption Amount Amount Outstanding of SLI1 After Optional Redemption SLI1 R 1 160 000 000.00 R 0.00 15 July 2013 Debt Sponsor Absa Corporate and Investment Bank, a division of Absa Bank Limited Date: 15/07/2013 05:18:00 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.