THE THEKWINI FUND 9 (RF) LIMITED - Interest Rate Resets

Interest Rate Resets

The Thekwini Fund 9 (RF) Limited
(incorporated with limited liability in the Republic of South
Africa)
(Registration number: 2011/001 385/06)
Instrument Code: TH9A11 ISIN: ZAG000138058
Instrument Code: TH9A12 ISIN: ZAG000138066
Instrument Code: THE9B4 ISIN: ZAG000138074
Instrument Code: THE9C4 ISIN: ZAG000138082
Instrument Code: THE9D4 ISIN: ZAG000138090

The Thekwini Fund 9 (RF) Limited Interest Rate Resets

Please note, for the interest period from and including 18
July 2016 to, but excluding, 18 October 2016, the interest
rates for The Thekwini Fund 9 (RF) Limited Notes will be as
follows:

  -   R 205 000 000.00 Class A11 Secured Floating Rate Notes
      due 18 July 2039 (the Class A11 Notes) (ISIN No.
      ZAG000138058; Instrument Code TH9A11)

  -   R 869 000 000.00 Class A12 Secured Floating Rate Notes
      due 18 July 2039 (the Class A12 Notes) (ISIN No.
      ZAG000138066; Instrument Code TH9A12)

  -   R 54 000 000.00 Class B4 Secured Floating Rate Notes due
      18 July 2039 (the Class B4 Notes) (ISIN No. ZAG000138074;
      Instrument Code THE9B4)

  -   R 54 000 000.00 Class C4 Secured Floating Rate Notes due
      18 July 2039 (the Class C3 Notes) (ISIN No. ZAG000138082;
      Instrument Code THE9C4)

  -  R 18 000 000.00 Class D4 Secured Floating Rate Notes due
     18 July 2039 (the Class D3 Notes) (ISIN No. ZAG000138090;
     Instrument Code THE9D4)
(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 18 July 2016 to, but
excluding, 18 October 2016), based on JIBAR for 3-month Rand
deposits for the floating rate Notes, was fixed at 7.350% on
13 July 2016.

  -   Interest   on the   Class A11 Floating Rate Notes for the
      interest   period   was set at 8.550% %.
  -   Interest   on the   Class A12 Floating Rate Notes for the
      interest   period   was set at 9.000%.
  -   Interest   on the   Class B4 Floating Rate Notes for the
      interest   period   was set at 9.600%.
  -   Interest   on the   Class C4 Floating Rate Notes for the
      interest   period   was set at 10.850%.
  -   Interest   on the   Class D4 Floating Rate Notes for the
      interest   period   was set at 13.700%.

18 July 2016

Debt Sponsor
The Standard Bank of South Africa Limited

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