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) Date: 17/09/2013 11:51:00 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.