Global Credit Rating upgrades Trustco’s credit rating Trustco Group Holdings Limited Incorporated in the Republic of Namibia (Registration number 2003/058) NSX share code: TUC JSE share code: TTO ISIN Number: NA000A0RF067 (“Trustco” or "the Group") Global Credit Rating upgrades Trustco’s credit rating Global Credit Rating Company (“GCR”) has upgraded Trustco’s national scale long term rating to BBB+(NA) and affirmed its short term rating of A2(NA); with the outlook accorded as stable. The GCR announcement notes that the ratings of Trustco reflect an entrenched financial services position (in education finance and mass-market insurance), and value-adding property investments in Namibia. Improved capital and leverage metrics relative to the Group’s evolving risk profile/business mix also support the ratings. Constructive Namibian macroeconomic trends, structural support for property prices and a strategy which is geared towards enhancing the sustainability and diversification of earnings, while prioritising stakeholder needs, support the Group’s prospects. The full report is available at http://globalratings.net. A Bruyns Company Secretary 28 July 2016 JSE Sponsor Sasfin Capital a division of Sasfin Bank Limited NSX Sponsor IJG (Pty) Limited Date: 28/07/2016 12:07:00 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.