Moody’s downgrades Real People’s National scale ratings Real People Investment Holdings Limited (Incorporated in the Republic of South Africa) (Registration No. 1999/020093/06) Bond Issuer Code: BIRP (“Real People”) MOODY’S DOWNGRADES REAL PEOPLE’S NATIONAL SCALE RATINGS Real People announces that Moody’s Investor Services (“Moody’s”) has, on 11 June 2014, downgraded Real People’s national scale issuer ratings to Ba1.za/NP.za, from Baa3.za/ P-3.za. The outlook for the issuer rating is revised to negative from stable. According to Moody’s, the primary driver of the rating downgrade is the deterioration in Real People’s asset quality. The negative outlook on Real People’s ratings reflects Moody’s view of the challenging operating conditions within the South African economic environment. Furthermore, whereas Moody’s expects limited upside pressure on the rating, an improvement in asset quality and profitability metrics and/ or a reduction in the risk of further asset quality deterioration could result in a change in the ratings outlook from negative to stable within the next 12-18 months. The Moody’s press release can be found on Real People’s website (www.realpeoplegroup.co.za). 12 June 2014 Debt Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 12/06/2014 12:42:00 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.