GCR upgrades Trustco Group rating TRUSTCO GROUP HOLDINGS LIMITED Incorporated in the Republic of Namibia (Registration number 2003/058) NSX share code: TUC JSE share code: TTO ISIN Number: NA000A0RF067 (“Trustco” or "the Group") GCR upgrades Trustco Group rating to (“BBB”) with Outlook Positive Trustco is pleased to announce that Global Credit Ratings (“GCR”) (http://globalratings.net) has upgraded the long term national scale issuer rating and the short term national scale issuer rating assigned to Trustco to BBB (NA) and A2 (NA) respectively; with the outlook for the group now being accorded as Positive. According to the full report published by GCR, the ratings reflect Trustco’s entrenched financial services position and value-adding property investments. Sound capital and leverage metrics relative to Trustco’s evolving risk profile and business mix have supported the ratings upgrade. The rating outlook considers Trustco’s increasing operational scale, improved organisational efficiency, and long-term earnings diversification plans, coupled with supportive macroeconomic and property price trajectories in Namibia. Trustco is pleased to release this report to shareholders as it continues to demonstrate the group’s resolve to achieve only the highest levels of success whilst maintaining a solid governance and risk framework. In light of the increasing trend of recent downgrades to both local and international corporates and certain sovereigns, the fact that Trustco has managed to improve its overall rating is a very positive message to stakeholders. The full report is available on the Trustco website: www.tgh.na S Miller Company Secretary 27 July 2015 JSE Sponsor Sasfin Capital (a division of Sasfin Bank Limited) NSX Sponsor IJG (Pty) Limited Date: 27/07/2015 02:20:00 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.