THE THEKWINI FUND 13 (RF) LIMITED - Interest Rate Reset

Interest Rate Reset

The Thekwini Fund 13 (RF) Limited
(incorporated with limited liability in the Republic of South
Africa)
(Registration number: 2014/064933/06)
Instrument Code: TH13A1 ISIN: ZAG000129099
Instrument Code: TH13A2 ISIN: ZAG000129107
Instrument Code: TH13A3 ISIN: ZAG000129115
Instrument Code: TH13A4 ISIN: ZAG000129123
Instrument Code: TH13B1 ISIN: ZAG000129131
Instrument Code: TH13C1 ISIN: ZAG000129149
Instrument Code: TH13D1 ISIN: ZAG000129156

The Thekwini Fund 13 (RF) Limited Interest Rate Reset

Please note, for the interest period from and including 23
November 2015 to, but excluding, 22 February 2016, the
interest rates for The Thekwini Fund 13 (RF) Limited Notes
will be as follows:

  - R 165,000,000.00 Class A1 Secured Floating Rate Notes due
    21 August 2050 (the Class A Notes) (ISIN No.
    ZAG000129099; Bond Exchange Listing Code TH13A1)
  - R 90,000,000.00 Class A2 Secured Floating Rate Notes due
    21 August 2050 (the Class A Notes) (ISIN No.
    ZAG000129107; Bond Exchange Listing Code TH13A2)
  - R 216,000,000.00 Class A3 Secured Floating Rate Notes due
    21 August 2050 (the Class A Notes) (ISIN No.
    ZAG000129115; Bond Exchange Listing Code TH13A3)
  - R 56,000,000.00 Class A4 Secured Fixed Rate Notes due 21
    August 2050 (the Class A Notes) (ISIN No. ZAG000129123;
    Bond Exchange Listing Code TH13A4)*
  - R 60,000,000.00 Class B1 Secured Floating Rate Notes due
    21 August 2050 (the Class B Notes) (ISIN No.
    ZAG000129131; Bond Exchange Listing Code TH13B1)
  - R 40,000,000.00 Class C1 Secured Floating Rate Notes due
    21 August 2050 (the Class C Notes) (ISIN No.
    ZAG000129149; Bond Exchange Listing Code TH13C1)
  - R15,000,000.00 Class D1 Secured Floating Rate Notes due
    21 August 2050 (the Class D Notes) (ISIN No.
    ZAG000129156; Bond Exchange Listing Code TH13D1)

(Collectively, the Notes)

Notice is hereby given, in accordance with condition 8.3.of
the terms and conditions of the Notes, that the JIBAR rate for
the interest period (from and including 23 November 2015 to,
but excluding, 22 February 2016) based on JIBAR for 3-month
Rand deposits for the floating rate Notes, was fixed at 6.492%
on 23 November 2015.

  - Interest on the Class A1 Floating Rate Notes for the
    interest period was set at 7.662%
  - Interest on the Class A2 Floating Rate Notes for the
    interest period was set at 7.882%
  - Interest on the Class A3 Floating Rate Notes for the
    interest period was set at 8.242%
  - Interest on the Class A4 Fixed Rate Notes for the
    interest period was set at 9.320%
  - Interest on the Class B1 Floating Rate Notes for the
    interest period was set at 8.692%
  - Interest on the Class C1 Floating Rate Notes for the
    interest period was set at 9.392%
  - Interest on the Class D1 Floating Rate Notes for the
    interest period was set at 12.692%

*Fixed note interest is paid semi-annually.

24 November 2015

Debt Sponsor
The Standard Bank of South Africa Limited

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