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AFRICAN BANK INVESTMENTS LIMITED - Change to the board of directors and board committees

Release Date: 17/09/2013 11:51
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Change to the board of directors and board committees

AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1946/021193/06)
(Ordinary share code: ABL) (ISIN: ZAE000030060)
(Preference share code: ABLP) (ISIN: ZAE000065215)
(“ABIL” or “the group”)

AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank)
(Registration number 1975/002526/06)
Company code: BIABL
(“African Bank”)


CHANGE TO THE BOARD OF DIRECTORS AND BOARD COMMITTEES
In compliance with the JSE Limited Listings Requirements, the
following changes to the ABIL and African Bank Boards and sub-
committees are disclosed:

The Board is pleased to announce the appointment of Morris
Mthombeni as an independent non-executive director of ABIL and
African Bank with effect from 16 September 2013. He has also been
appointed to the Group Audit Committee.    Morris has more than 21
years’ experience in insurance-based financial services, including
previously as CEO of Momentum Investments Limited.       He has 15
years’ experience at executive level and has served on the boards
of a number of Momentum Investments Limited’s subsidiaries.

Samuel (Sam) Sithole a non-executive director of ABIL and African
Bank, has resigned from the boards of ABIL and African Bank due to
a potential conflict of interest that may arise between the
businesses carried on within the ABIL group and the investments of
Brait, of which he is also a director. Sam's resignation is
effective 16 September 2013.

Robert John (Johnny) Symmonds, presently a member of ABIL’s Audit
Committee, will with immediate effect, assume the interim
chairmanship of the Group Audit Committee until a suitable
replacement has been identified.

The resignation of Sam and the appointment of Morris to the Board
have necessitated the following changes to the membership of the
Group Audit Committee:
Group Audit Committee
Existing constitution         New constitution

Sam Sithole (Chairman)        Johnny Symmonds (Interim chairman)
Johnny Symmonds               Morris Mthombeni
Nicholas Adams                Nicholas Adams

ABIL would also like to announce that Thamsanqua (Tami) Sokutu, an
executive director of ABIL and Group Chief Risk Officer, has with
immediate effect, been granted an extended period of leave due to
health reasons. His responsibilities as the Group Chief Risk
Officer will be assumed in the interim by Pieter Marais, currently
the Executive of Shared Services, subject to the approval of the
South African Reserve Bank. Pieter joined ABIL in February 2000 as
the Group Risk Officer, a position he held until December 2006.
He has since had executive responsibility for IT Change
Management, Ellerines Branch Credit processes, which included the
conversion of all the EHL debtors’ accounts to African Bank and
more recently for the Customer Service Call Centre.


The Boards of ABIL and African Bank, welcome Morris and express
their sincere appreciation to Sam for his contribution to the
group since his appointment in 2009, and in particular the role he
played as Chairman of the Group Audit Committee.

Midrand
17 September 2013


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

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