MMI and Guardrisk - Extension of Fitch Ratings validity MMI Group Limited (Incorporated in the Republic of South Africa) (Registration No. 1904/002186/06) Company code: MMIG MMI and Guardrisk - Extension of Fitch Ratings validity MMI Group Limited (MMI) advised note-holders on 9 December 2015 of the extended validity period to 12 March 2016 relating to the ratings assigned to MMI and Guardrisk by Fitch Ratings. MMI would like to advise note-holders that the validity period of the MMI and Guardrisk ratings has been extended by the Registrar of Credit Ratings Agencies to 31 May 2016. An announcement pertaining to the appointment of a new credit rating agency will be made in due course. On 7 March 2016, Fitch Ratings affirmed the credit ratings of MMI Group Limited (Insurer Financial Strength rating of ‘AA+(zaf)’), MMI Holdings Limited (National Long-term rating of ‘AA- (zaf)’), Guardrisk Life Limited (Insurer Financial Strength rating of ‘AA+(zaf)’), Guardrisk Insurance Company Limited (Insurer Financial Strength rating of ‘AA+(zaf)’) and Guardrisk International Limited PCC (Insurer Financial Strength rating of ‘BBB’). The Outlooks are Stable. END Contact: Werner van der Veen MMI Holdings Limited Tel: 012 673 7512 10 March 2016 Debt Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 10/03/2016 09:13:00 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.