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Mon 6 Dec 2010, 9:09 SCIB - The Standard Bank of South Africa Limited - Adjustments to the terms and
JSE   FSRSBBFSRSBDFSRSBCFSRSBPFSRSBZ
SCIB                                                                            
SCIB - The Standard Bank of South Africa Limited - Adjustments to the terms and 
conditions of the Standard Bank Firstrand Ltd warrants                          
The Standard Bank of South Africa Limited                                       
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK FIRSTRAND LTD      
WARRANTS                                                                        
Further to the announcement made by FirstRand on 12 November 2010, FirstRand Ltd
has announced its intention to un-bundle its entire shareholding in Metropolitan
to its ordinary shareholders.                                                   
Following this announcement, notice is hereby given that the Issuer will amend  
the Terms and Conditions of the following warrants.                             
The following warrants will be affected by this corporate action:               
Existing Terms                                                                  
ISIN           JSE Code    Exercise   Conversion  Expiry      Exercise Style    
                        Price      Ratio                                        
ZAE000146718   FSRSBB      R 21.00    5           5 Jan 2011  American Call     
ZAE000149787   FSRSBC      R 20.00    5           2 Mar 2011  American Call     
ZAE000152146   FSRSBD      R 23.00    7           5 Jul 2011  American Call     
ZAE000150298   FSRSBP      R 20.00    5           3 May 2011  European Put      
ZAE000146155   FSRSBZ      R 19.50    5           7 Dec 2010  European Put      
New Terms                                                                       
ISIN           JSE Code    Exercise   Conversion Expiry      Exercise Style     
                        Price      Ratio                                        
ZAE000146718   FSRSBB      R 18.13    4.32       5 Jan 2011  American Call      
ZAE000149787   FSRSBC      R 17.26    4.32       2 Mar 2011  American Call      
ZAE000152146   FSRSBD      R 19.85    6.04       5 Jul 2011  American Call      
ZAE000150298   FSRSBP      R 17.26    4.32       3 May 2011  European Put       
ZAE000146155   FSRSBZ      R 16.83    4.32       7 Dec 2010  European Put       
The Effective Date of the adjustment shall be 6th December 2010.                
The JSE Limited (JSE) Issuer Services Division has approved the adjustment of   
the above-mentioned Instalments.                                                
This Notice together with the Common Terms Document and Conditions Annexure     
record the terms and conditions of the agreement between the Parties.  Any terms
used in this Notice which are defined in the Common Terms Document, Conditions  
Annexure and the relevant Supplements shall bear the meaning ascribed to them   
therein, unless specifically stated otherwise herein.  Other than as set out    
herein, the terms and conditions set out in the Common Terms Document,          
Conditions Annexure and relevant Supplements remain unchanged and in full force 
and effect.                                                                     
Date: 06/12/2010 09:09:53 Produced by the JSE SENS Department.                  
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