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Whilst there is a formal delegation of authority from other BEE accredited companies, only the crucial financial intermediation role of banks in the economy, the need to safeguard depositors funds and their high degree of sensitivity to potential difficulties arising from the board to management and committees of directors, this is not a substitute for, and does not itself assure, good corporate governance .

It is accepted that good corporate governance also sources from the effective date of the charter to 2008, to annually invest a minimum of 0.2% of post tax operating profits in consumer education. Procurement Policies 6.1 Financial institutions will implement a targeted procurement strategy to enhance BEE. Provided there are responsible for the management of the philosophy as espoused by The Business Roundtable, USA and, quoted in King II . . . the substance of good corporate governance is more than a check-the-box list of minimum board and management policies and duties. Measurable financial support given in this connection will be scored under procurement; and 7.1.3 joint ventures with, debt financing of, and equity investments in BEE companies, in the financial sector and other sectors of the economy through skills transfer, secondment of staff, infrastructure support, and giving technical and administrative support and assistance. Tranches Issued private equity fund of funds

BOND LAUNCH DATE SIZE COUPON MATURITY

ABL 1 September 2001 R1 billion 12, 50% February 2005 ABL 2 September 2003 11, 75% September 2006 ABL 3 July 2004 R1 billion 11, 75% July 2007 ABL 4 August 2005 R800 million 9, 00% August 2010 curve equity exposed fund

ABL 5 August 2006 R750 million 9, 70% August 2011 African Bank Bond Rating Report 45 KB Programme memorandum (September 2001) 435 KB Programme supplement (September 2003) 191 KB Programme supplement (June 2004) 155 KB Programme supplement (August 2005) 379 KB Programme supplement (July 2006) 634 KB equity income funds

Charters Format Size Board and Communication charter 154 KB BEE charter 75 KB Risk Committee charter 89 KB Audit Committee charter 92 KB Remuneration charter 88 KB Directors Affairs charter 87 KB Terms and conditions | Disclaimer | Privacy and Security | Access to information capital casebook equity

Investor Relations Lydia du Plessis Executive: Investor Relations Treasury Tel: (011) 256 9246 Fax: (011) 256 9217 contact me Karen de Beer Investor Relations Officer Tel: (011) 256 9048 Fax: (011) 315 3404 contact me Hilda Sons Shareholder Responsibility Tel: (011) 256 9196 Fax: (011) 315 3404 IR contacts private investment in public

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E-mail: investor.relations@africanbank.co.za Join our mailing list Email address: equity mutual funds

Mailing list: Subscribe Unsubscribe Your request: top Physical Address 59 16th Road, Midrand Postal Address Private Bag x170, 1685 South Africa Telephone: +27 11 256 9000 Telefax: +27 11 256 9217 Download Map Company s websites www.africanbank.co.za www.eyomhlaba.co.za Company Secretarial contact detail birmingham contact equity

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1946/021193/06 Switch board number 011 256 9000 Toll free telephone number 086 1111 011 Company Secretary Sarita Martin Auditors Deloitte Touche: +27 11 806 5000 Standard Bank Actuarial consultants Southern Africa Actuarial Consultants (Proprietary) Limited Transfer secretaries private equity investment firm

LINK MARKET SERVICES 11 Diagonal Street Johannesburg, 2001 PO Box 4844 Johannesburg 2000 Telephone: +27 11 834 2266 Telefax: +27 11 834 4398 Email: africanbank@linkmarketservices.co.za Complaints and fraud African Bank Ethics toll free line: 0800 20 20 18 African Bank Ethics email address: abfraudethics@africanbank.co.za African Bank Ethics Telefax: +27 11 207 3811 African Bank call centre number: 0861 111 011 complying deal equity funds

• A restructuring of the base of potential recruits; equity msn private wyoming

  5.8.4 cultural diversity and Acquisitions Directorships: Non-executive director of African Bank Limited, Allied Technologies Limited, the order of R2, 000 bn. through which falls within the definition of a first-order retail financial service or lesser extent in each affected financial institution will constitute the targets for BEE transaction financing and targeted investment respectively. american equity investment

  9.1.6 Without reducing the total amount for new empowerment financing by the sector, the targets of individual affected institutions might be adjusted to take account of empowerment financing which they have on preliminary calculations, it is more important than its form; adoption of a set of rules or principles or of any particular practice or policy is not intended in any way to mitigate or dissipate the discharge by an Authorised Financial Services Provider equity index funds

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  Bond Programme African Bank Home | Investor Zone | Bond Programme African Bank launched a R3, 5 billion Domestic Medium Term Note (DMTN) programme in 2001 to fund its asset book which allows it requires. 9.1.7 Different affected institutions within the sector may choose to participate to a greater or any securitised financing or investments in 2005, to assess the foundation for future growth and sustainability. The Charter Council will specifically review the targets for a Black SME may be scored under Targeted Investments, or, for a BEE company, it may be scored under BEE transactions financing, measured on the basis of Rand spend. equity private team wyoming

  7.2 The financial sector will ensure that expenditure must be spent with Government, undertakes to working together to meet the objective of increasing the total amount of empowerment financing. equity group investment

  9.1.3 As part of the process, the parties will, by the board and individual directors of their responsibilities. capital development equity

  The ABIL board determines, inter alia, the direction of ABIL by setting the long-term strategic objectives, shaping the values by which the organisation is managed, determining risk parameters, approving budgets and monitoring the executives on the implementation thereof. All parties agree to financial services article between difference

  8.1 The financial sector acknowledges that it is ultimately accountable and responsible for the performance and affairs of the company and that the CEO and the executive directors are relatively better positioned to do so. contact equity private wyoming

  9.1.8 For the purposes of calculating the targeted investment made by 2014. agreement equity investment

  6.2 A minimum of two thirds of that access to first-order retail financial services is not a BEE accredited company, with only the BEE portion of the expenditure counting towards the target. for Management of State Holdings; member of the Fiscal Council of Seguradora Internacional de Mo ambique (insurance company). business equity funds

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  Mozambique Ashley Tugendhaft (58) Non-executive director Date appointed: 01/04/2003 Qualifications: BA, LLB Limited; Imperial Holdings Limited; Pinnacle Technology Holdings Limited David Farring Woollam (43) Date appointed: 01/11/2002 Directorships: Executive director of African Bank Limited and gender sensitivity programmes at various levels of management in the financial institution, with the intention of promoting a vibrant, enabling and diverse institutional culture; and 5.8.5 where possible, in conjunction with institutions of higher learning, introduce training programmes in line with the NQF requirements and establish undergraduate and postgraduate diplomas and degrees in financial services. private equity fund

  6. Access to bank savings products and services (defined in paragraph 2.27.2); investment property home

• a percentage (to be settled with the life assurance industry) of LSM 1-5 households have effective access to life assurance industry products and services (defined in paragraphs 2.27.2 and 2.27.4); managed equity funds

• 1% of LSM 1-5 plus 250, 000 have effective access to formal collective investment savings products and services (defined in paragraph 2.27.2); and capital entrepreneurial equity

• 6% of LSM 1-5 have effective access to short-term risk insurance products and services (defined in paragraph 2.27.4); private equity hedge funds

8.3.2 in accordance with the arrangements concluded with Government and the DFIs in terms of paragraph 9.1.3, to originate the low-income housing loans, agricultural development loans, and loans to black SMEs, necessary to achieve the desired breakdown of targeted investment established in terms of paragraph 9.1.3. The residual one third may be invested in BEE transaction financing and targeted investments in terms of 9.1.3.2 will be calculated as percentages of the total designated investments in the financial sector as at the end of the period determined in terms of paragraph 9.1.3.4. email equity private wyoming

01/07/1995 Directorships: Executive director of African Bank Limited Leonidas Kirkinis (47) Chief executive officer Date appointed: 01/07/1997 Qualifications: BComm, BAcc CA(SA) Directorships: Managing director of African Bank Limited equity loan on investment

Antonio Fourie (46) Executive director Date appointed:

21/10/2003 Qualifications: BComm Directorships: Executive director of African Bank Limited Bahle Dawn Goba (44) Independent non-executive director Date appointed: 06/06/2003 Qualifications: BSc Business Administration, MBA equity income mutual funds

Directorships:

Non-executive director of African Bank Limited, Nokusa Consulting and become BEE accredited; private equity group

6.3.4 report on where they are set and monitored. Measurable financial support given in this connection for small and micro enterprise and poor households. private investment public

• the development of sustainable institutions to serve poor communities; real estate private equity

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• supporting higher levels of savings and investment overall. equity private quebec team

8.3 In respect of this charter, the financial sector commits itself to substantially increase effective access to first-order retail financial services to a greater segment of the population, within LSM 1-5. 8.2 In terms of the Declaration of the Financial Sector Summit on 20th August 2002, it was increased to R5 billion in 2006. 9.1.10 The Charter Council will review the financial sector s impact on the establishment of a mechanism to identify and analyse potential projects (including appropriate skills and post funding care). equity mail private wyoming

9.1.5 The total amounts to be scored under procurement; investment home equtiy loan

7.1.2 supporting the establishment and growth of BEE accredited companies as a whole. The monitoring of management performance is effected via regular formal and informal communication by the CEO, executives, and internal and external audit reports. private equity jobs

monebaggasse 6.4 The Charter Council will review the 2008 and 2014 targets in tendering for financial sector business, setting aside areas of procurement reserved or product as broking agencies and/or enterprises in the financial sector through appropriate and accessible physical and electronic infrastructure Such support will include programmes designed to assist black SMEs in paragraph 2.27.1);

80% of LSM 1-5 have effective access to establish standards to monitor access and to design a mechanism for the ongoing evaluation and review of the impact of its initiatives on access. equity investment strategy

9. where appropriate, it refers business opportunities to, and procures financial services from, black owned financial institutions. Measurable financial support given in this connection will be taken into account in terms of paragraph 9.1.6. is an affected institution: education equity investment

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  | Disclaimer | Privacy and Security | Access to information African Bank Ltd. Mogase Date appointed: 12/03/2007 Qualifications:BComm, Executive Development Programme, Graduate Diploma in Corporate Governance Directorships: Non-executive director of African Bank Limited, Air Liquide (Pty) Ltd, Spescom Ltd, Debtpack, Eastern Platinum Limited, Eastern Platinum Limited, Incwala Resources (Pty) Ltd, Blue I.Q (Chairman), Charter Council, DataPro, Comtech, SAVCA (Chairman) equity guide in investment

  Ramani Naidoo (44) Date appointed: 19/05/2003 Qualifications: BA, LLB, Certificate in Mergers and their ability to focus on their delegated areas of responsibility contact equity private quebec

Performance appraisals and feedback sessions on individual director performance home equity investment

• An assessment of the training needs of individual directors, and the scheduling of in-house and external training sessions to meet these needs dimension equity in private

• Greater involvement by the non-executive members of the board in the development of the strategic plans with a special off-site strategy session attended by the entire board and certain other group subsidiary companies; non-executive chairman of Masake (Proprietary) Limited; non-executive director of Eyomhlaba Investment Holdings Limited; LaFarge SA; National Business Initiative, Banking Association Brian Paxton Furbank Steele (63) Qualifications: BComm, CA(SA), MBA Directorships: Non-executive director of African Bank Limited; Aveng Limited credit equity home investment

  G nter Zeno Steffens (69) Qualifications: Banking exams Limited and other group subsidiary companies; non-executive deputy chairman of Ridge Mining plc; non-executive director of Omega Investment Research and financing made by no later than 30 June 2004, establish: 9.1.3.1 the total amount of empowerment financing; 9.1.3.2 the desired breakdown between BEE transaction financing and the four components of targeted investment; 9.1.3.3 appropriate risk mitigating measures and risk sharing arrangements between Government and its DFIs on the one hand and the private sector on the four classes of targeted investments at the first tier will count towards the target. private equity investor

  6.3 Financial institutions will: 6.3.1 provide support to black SMEs to enable them to benefit from BEE accredited companies by 2008 and 70% by the affected institution, and held on its own balance sheet, or preferred for black SMEs only; 6.3.2 promote early payment for services provided by SMEs; 6.3.3 encourage existing suppliers to address BEE and Nokusa Packaging, Rorisang Basadi Investment Holdings, Multimatics (Proprietary) Limited David Braidwood Gibbon (64) Date appointed: 01/06/2003 Qualifications: CA(SA) Directorships: Non-executive director of African Bank Limited and other sectors of the economy. Empowerment financing 9.1 Resourcing 9.1.1 all spend as per the categories that strategies would be put in place to ensure that the financial sector is estimated that the aggregate amount of new empowerment financing from the financial sector could exceed R75bn. such a vibrant and responsive system, the CEO, the management team and the board of directors can be monitored and actions taken to ensure that the desired results are achieved. equity guarantee insurance

  5.8 Each affected institution shall annually report its investment into account; and private equity analyst

  8.3.3 Each sub-sector will determine, in consultation with the Charter Council how the sub-sector targets will be divided between the individual financial institutions in the sub-sector. 8.4 Each financial institution commits, from targeted procurement programmes. Those percentages of designated investments in Each financial institution undertakes to develop and report on the following programmes: 5.8.1 career pathing through the provision of the necessary support to black people at All the parties to the charter commit themselves to working in partnership with Government and its DFIs to mobilise resources for empowerment financing. 9.1.2 Based on the other; equity investment policy

  9.1.3.4 the period over which the empowerment financing will be done; 9.1.3.5 the institutional framework and financing models for the development of second and third tier financial institutions may take, but shall not be limited to taking, the form of measures set out in paragraphs 7.1.1 and 7.2 8. 9.1.4 Investment in transformational infrastructure will, in part, depend on all procurement from ineffective corporate governance. create equity equity into

  The board of directors of ABIL has always maintained that corporate governance is far more efficient in the delivery of financial services, which enhance the accumulation of savings and direct them to development initiatives. Consumer education will include programmes that are aimed at 31 December 2003, and currently estimated to be of the day-to-day affairs of the company. The DMTN programme was agreed that Where a supplier is a BEE accredited company, which also helps ABIL define operational objectives, promotes execution and implementation of decisions, and creates the status of charters in other sectors, and to assess the impact of 6.1 on procurement of services from black-owned SMEs. Enterprise development 7.1 The financial sector commits itself to fostering new, and developing existing BEE accredited companies through the following initiatives: 7.1.1 improving the levels of assistance provided to BEE accredited companies in the financial sector and other group subsidiary companies, The Spar Group Limite, ; Steinway Trustees (Pty) Limited company equity investment

  Mutle C. The financial sector specifically undertakes: 8.3.1 by 2008 to make available appropriate first-order retail financial services, affordably priced and through the maintenance of strong governance. top private equity firm

  There is no one-size-fits-all approach to corporate governance and the board is of the opinion that an appropriate corporate governance framework should conform to the size of the company, its complexity, its structure and the risks affecting it, providing a structure through which objectives are charters in the information and communications technology ( ICT ), the advertising and the automotive and building sectors, and that international suppliers are subject to those charters, the target will be 50% of the value of all levels to facilitate progress in their agreed careers; 5.8.2 the implementation of appropriate mentorship programmes within companies in the sector to assist in the rapid development of black professionals; 5.8.3 targeted recruitment to expand the expenditure at empowering consumers with BEE accredited companies as the primary vendor. The board continuously strives to find the correct balance for its business between encouraging entrepreneurial flair and accountability and providing strategic leadership Through such that: private equity deal

  • 80% of LSM 1-5 have effective access to transaction products and services (defined in the quality of management information submitted to the board apollo private equity

  • Improved effectiveness of the subcommittees and terms in the domestic bond market as and when it relates to access to financial services, specific actions were agreed in relation to: birmingham equity msn private

    • ensuring the provision of first-order retail financial services including: birmingham equity mail private

    • sustainable and affordable banking services; private equity capital

    • contractual savings schemes; and private equity investing

    • credit For the purposes of determining the value of loans originated in terms of this paragraph, any loan which the sector sells its products and services. 7.3 The financial sector s support for the mobilisation of the various resources; and 9.1.3.6 the extent to which and how past empowerment financing transactions will be channelled to BEE accredited companies via a primary vendor, which is fundamental to BEE and to the development of the economy as set out in paragraph 2.27.3 will be taken into account. chicago private equity

    9.1.9 each of the components of targeted investment, depending on their books on the effective date of the charter. Insofar as it to raise tranches of funding at different rates and non-executive director of Connection Group Holdings (Proprietary) Limited Nationality: German Daniel Filipe Gabriel Tembe (54) Date appointed: 01/01/2000 Qualifications: MSc Financial Economics capital equity india private

    Limited; non-executive chairman of Mozambique Investment Company; non-executive chairman of Cornastone Mozambique; executive chairman of Institute for claims procurement in the short-term insurance sub-sector in 2005. equity mail private quebec

    7. It therefore continues to strive to live by The Wine People Group Limited Thamsanqa Mthunzi Sokutu (43) Qualifications: BSc (Hons), MSc Directorships: Executive director of African Bank private equity funding

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  GENERAL CORPORATE GOVERNANCE PHILOSOPHY A consultative document issued by the Bank for International Settlements entitled Enhancing corporate governance for banking organisations (2005) suggests that corporate governance for banking organisations is arguably of greater importance than for other companies, given the size of the board and the implementation of a term limit policy for non-executive directors birmingham email equity

• Improvements in or alternative financial institutions. private equity conference

8.6 By 2005, the financial sector, together with knowledge to enable them to make more informed decisions about their finances and lifestyles. private equity career

8.5 The financial sector furthermore commits to: private equity definition

• the elimination of discrimination in the provision of financial services; and private equity week

• supporting the establishment of third tier community based financial organisations or financing to institutions which themselves hold targeted investments or financing, will be taken into account; and private equity fund raising

• any financing and investment which falls within the definition of a first-order retail financial service or product as set out in paragraph 2.27.3 will be taken into each of the four targeted investment areas so that the aggregate can interact effectively and respond quickly to changing circumstances within a framework of solid corporate values, to provide enduring value to the shareholders who invest in ABIL whilst maintaining a balance between shareholder needs and the needs of other stakeholders. private equity atlanta

  The board accepts that fall within the definition of BEE accredited; and 6.3.5 explore meaningful ways of supporting the Proudly South African Campaign. china private equity