AFRICAN BANK INVESTMENTS LIMITED - Changes to board of directors

Changes to board of directors

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” or the “Company)



Changes to board of directors

The board of ABIL were advised in 2013 that Nithia Nalliah, the current chief financial officer and
acting chief executive officer of the ABIL group, intended to take early retirement. Nithia, who recently
turned 55 years old, was requested to remain with the Company to assist with the completion of the
2013 rights issue and thereafter to assist with the implementation of the revised group strategy, as
communicated to shareholders with the release of the interim results in May 2014.

Following developments since then, including African Bank being placed under Curatorship as well as
the proposed restructure of the ABIL group, and the planned timeline to complete the restructure by
31 March 2015, as per the SENS released on 26 September 2014, the board has approved Nithia’s
request for early retirement. He will remain with ABIL and assist in the restructuring process of the
group as well as the operations of African Bank, and accordingly will continue to hold his executive
positions until 31 March 2015 or when the new appointments have been made, whichever is the
earlier. He will retire from the boards of ABIL and all group companies by 31 March 2015.

The board of directors expresses its appreciation to Nithia for agreeing to assist the ABIL group with
the process of resolution presently under way and wish him well after having been with the ABIL
group since April 2006. Finally the board would also like to thank Nithia for his significant contribution
over many years.

On behalf of the board of directors

Midrand
6 October 2014

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

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