Moody's Downgrades African Bank AFRICAN BANK INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registered bank controlling company) (Registration number 1946/021193/06) Ordinary share code: ABL ISIN: ZAE000030060 Preference share code: ABLP ISIN: ZAE000065215 (“ABIL”) and AFRICAN BANK LIMITED (Incorporated in the Republic of South Africa) (Under curatorship) (Registered bank) (Registration number 1975/002526/06) Company code: BIABL (“African Bank”) MOODY’S DOWNGRADES AFRICAN BANK’S LOCAL AND GLOBAL CREDIT RATINGS ABIL announces that Moody’s Investors Service (“Moody’s” or “the agency”) has, on 12 August 2014, downgraded African Bank Limited’s local national scale issuer ratings to Caa2.za/Not Prime.za from A3.za/P- 2.za and its global senior debt and deposit ratings to Caa2/Not Prime, from Ba1/Not Prime. In addition, the long term global and national scale ratings have been placed on review for a further downgrade. Moody’s stated that the downgrade of African Bank’s ratings reflect the expected losses that senior bondholders and wholesale depositors of the bank will sustain, following the announcement by the South African Reserve Bank (SARB) on 10 August 2014 that it placed African Bank under curatorship. The review for downgrade, in Moody’s view, captures the implementation risks of SARB's restructuring plan for African Bank, in conjunction with the risk of higher than anticipated losses that depositors and bondholders, other than retail depositors, could incur. 13 August 2014 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 13/08/2014 10:24:00 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.