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JSE   VNF
 NEDB                                                                            
Nedbank Limited - Expiry Of Share Instalment                                    
Nedbank Limited                                                                 
Expiry Of Share Instalment                                                      
Nedbank Limited hereby gives notice of the expiry of the following Share        
Instalment                                                                      
   Underlying      Issue      Second    Ratio   Style    Maturity     JSE       
   Instrument      Size     Instalment                     Date      Codes      
Venfin Ltd          100      R 15.85     1:1   American    10th     VNFNIB      
ISIN:             Million                        Call    October                
ZAE000026498                                               2006                 
Nedbank Limited hereby gives notice that holders of the preceding Share         
Instalment will receive the fair value of the VNFNIB based on the delisting     
price of Venfin of R51.00. This amount is calculated to be R36.00.              
6th Floor Corporate Place                                                       
135 Rivonia Rd Sandown                                                          
2196                                                                            
Date: 15/03/2006 12:41:05 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
                                                                                

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