Distribution Announcement - STAN40 STANLIB TOP 40 FUND (being a portfolio under the STANLIB ETF CIS registered in the Republic of South Africa in terms of the Collective Investment Schemes Control Act “CISCA”) Share Code: STAN40 ISIN: ZAE000182432 Abbreviated Name: STANLIB40 (“STAN40”) DISTRIBUTION ANNOUNCEMENT Holders of STANLIB40 securities (“Securities Holders”) are referred to the announcement dated Thursday, 19 November 2015 setting out details of a possible quarterly distribution by the ETF to Securities Holders. Further to the above-mentioned announcement, the manager of the STANLIB ETF Collective Investment Scheme (“the Manager”) has resolved to make a quarterly distribution to Securities Holders for the quarter ended 31 December 2015 (“the Distribution”) in an amount of 25.77000 cents per STANLIB40 ETF security. The distribution will be constituted as follows: Gross Dividend (local to be taxed) : 15.96000 cents Local Tax (15%) : 2.39400 cents Net dividend : 13.56600 cents Gross Dividend (foreign-dual) to be taxed : 3.13000 cents SA tax applicable (15%) : 0.469500 cents Net Dividend : 2.66050 cents Gross Dividend (foreign-dual) already taxed : 8.17000 cents Foreign Tax Withheld (34.0269%) : 2.78000 cents Net Dividend : 5.39000 cents Gross REIT Distribution : 1.03000 cents (No Dividend Withholding Tax deducted for SA resident securities holders) Non-residents: Local Dividends Withholding Tax (15%): 0.15450 cents Net dividend : 0.87550 cents Interest (paid on cash held in bank account, no WTI applicable) : 0.26000 cents The Security Holders (Residents) who are not exempt from dividend tax will receive the Net Dividend of 21.61650 cents per security as well as REIT Distribution of 1.03 cents. Income Tax number: 9528816169 The Distribution will be made to all Securities Holders recorded in the register on Thursday, 31 December 2015 and will be paid on Friday, 15 January 2016. Johannesburg 28 December 2015 Sponsor The Standard Bank of South Africa Limited Date: 28/12/2015 12:57:00 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.