SABVEST LIMITED - Sabvest offshore portfolio

Sabvest offshore portfolio

SABVEST LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1987/003753/06
ISIN: ZAE000006417 – ordinary shares
ISIN: ZAE000012043 – “N” ordinary shares
Share code: SBV – ordinary shares
Share code: SVN – “N” ordinary shares

SABVEST OFFSHORE PORTFOLIO

INTRODUCTION

Sabvest maintains a geared offshore portfolio of international listed equities, bonds
and funds. Details are contained in the annual report and are also posted on
Sabvest's website six monthly after the publication of results.

As the offshore portfolio may change extensively between reporting dates, Sabvest
has concluded that it would be of benefit to shareholders for details to be available
to shareholders on a more regular and timely basis. Accordingly, Sabvest intends to
place an updated portfolio on its website shortly and thereafter within ten working
days of the end of each calendar quarter.

The quarterly updated portfolio schedule will not be audited, except when published
after the release of annual audited results.

OFFSHORE PORTFOLIO UPDATE

At 31 December 2013 the portfolio comprised 17 equities with a value of $8,4m
(R88,4m) and 7 bonds with a value of $4,9m (R51,2m) i.e. $13,3m (R139,6m) in total.

At 14 April 2014, the portfolio contained no equities, as all equities were sold in
March 2014, and comprised 14 bonds and 4 bond funds with a value of $8,6m (R90,8m).

The above information has not been reviewed and reported on by the Company’s
external auditors.

Sandton
15 April 2014

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

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