ALEXANDER FORBES GROUP HOLDINGS LIMITED - Cautionary announcement

Cautionary announcement

ALEXANDER FORBES GROUP HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2006/025226/06)
JSE Share Code: AFH ISIN: ZAE000191516
("Alexander Forbes" or "the Company" or "the Group")


CAUTIONARY ANNOUNCEMENT

Shareholders are hereby advised that Alexander Forbes has entered into negotiations with
a potential black economic empowerment partner regarding an investment into the Group’s
African subsidiaries, the terms of which are still being agreed. Such negotiations, if
successfully concluded, may have a material effect on the price of the Company’s
securities.

Accordingly, shareholders are advised to exercise caution when dealing in the Company’s
securities until a further announcement is made.


14 March 2016
Sandton

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

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