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, 03 March 2017 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 31 March 2017 ("the Distribution") in an amount of 43.96000 cents per STANLIB40 ETF security. The distribution will be constituted as follows: Gross Dividend (local to be taxed) : 26.16000 cents Local Tax (20%) : 5.23200 cents Net dividend : 20.92800 cents Gross Dividend (foreign-dual) to be taxed : 13.28000 cents SA tax applicable (20 %) : 2.65600 cents Net Dividend : 10.62400 cents Gross REIT Distribution : 3.21000 cents (No Dividend Withholding Tax deducted for SA resident securities holders) Non-residents: Local Dividends Withholding Tax (20%) : 0.64200 cents Net dividend : 2.56800 cents Interest (paid on cash held in bank account, no WTI applicable) : 1.31000 cents The Security Holders (Residents) who are not exempt from dividend tax will receive the Net Dividend of 31.55200 cents per security as well as REIT Distribution of 2.56800 cents. The Distribution will be made to all Securities Holders recorded in the register on Friday, 07 April 2017 and will be paid on Friday, 21 April 2017. Johannesburg 05 April 2017 Sponsor The Standard Bank of South Africa Limited Date: 05/04/2017 03:59:00 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.