Distribution Announcement - STAN40 STANLIB TOP 40 FUND ("STANLIB40")(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 Abbreviated Name: STANLIB40 ISIN: ZAE000182432 ("STAN40") Income Tax number: 9528816169 DISTRIBUTION ANNOUNCEMENT Holders of STANLIB40 securities ("Securities Holders") are referred to the announcement dated Friday,02 September 2016 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 30 September 2016 ("the Distribution") in an amount of 42.69000 cents per STANLIB40 ETF security. The distribution will be constituted as follows: Gross Dividend(local to be taxed) : 17.65000 cents Local Tax (15%) : 2.64750 cents Net dividend : 15.00250 cents Gross Dividend(foreign-dual)to be taxed : 15.59000 cents SA tax applicable (15 %) : 2.33850 cents Net Dividend : 13.25150 cents Gross Dividend(foreign-dual)not to be taxed (Foreign Withholding Tax >= SA Tax) : 8.64000 cents Foreign Tax Withheld(34.95370%) : 3.02000 cents Net Dividend : 5.62000 cents Gross REIT Distribution : 2.44000 cents (No Dividend Withholding Tax deducted for SA resident securities holders) Non-residents: Local Dividends Withholding Tax (15%) : 0.36600 cents Net dividend : 2.07400 cents Interest(paid on cash held in bank account, no WTI applicable) : 1.39000 cents The Security Holders(Residents) who are not exempt from dividend tax will receive the Net Dividend of 33.87400 cents per security as well as REIT Distribution of 2.44 cents. The Distribution will be made to all Securities Holders recorded in the register on Friday, 30 September 2016 and will be paid on Monday, 17 October 2016. Johannesburg 28 September 2016 Sponsor The Standard Bank of South Africa Limited Date: 28/09/2016 05:15:00 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.