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ASA ABSP
AMAGB
Absa Group Limited - Director resignation and appointment
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
(Registration number: 1986/004794/06)
ISIN: ZAE000067237
ISIN: ZAE000079810
JSE share code: ASA
JSE share code: ABSP
Issuer code: AMAGB
(Absa Bank)
(Absa, Absa Group or the Group)
Absa Group Limited And Absa Bank Limited: Resignation Of Leslie Maasdorp As
Non-Executive Director Of Absa Group And Absa Bank And His Subsequent
Appointment As Non-Executive Vice-Chairman Of Absa Capital
Leslie Maasdorp has accepted an invitation to become the
non-executive vice-chairman of Absa Capital with effect from 1 October
2006. As part of his responsibilities he will also take up the position as
a non-executive vice chairman of Barclays Capital with a focus on Africa.
Mr Maasdorp"s acceptance follows the recent launch of Absa Capital, after
Barclays Bank PLC bought a majority share in Absa in July last year.
Mr Maasdorp will focus on assisting Absa Capital in expanding its client
franchise in areas such as black economic empowerment (BEE), corporate and
financial institution coverage, infrastructure finance and Absa"s
endeavours in the parastatal and public sectors.
As a consequence of the above, Mr Maasdorp resigned his position as non-
executive director on the boards of Absa Group and Absa Bank, as well as
his memberships of the Absa Group board sub-committees, being the Group
Audit and Compliance Committee, the Board Finance Committee and the
Implementation Committee, with effect from 30 September 2006.
Batho Bonke Capital (Proprietary) Limited (Batho Bonke) will now follow its
own procedure in nominating a successor to Mr Maasdorp to the Absa Group
and Absa Bank boards. An announcement regarding the nominee from Batho
Bonke will be made in due course.
Locally, Leslie Maasdorp was one of the three architects, along with Tokyo
Sexwale and Nthobi Angel, of the Batho Bonke empowerment consortium, which
acquired a 10% equity stake in the Absa Group in 2004. He will continue in
his role as a director Batho Bonke.
Enquiries
John Vitalo
Chief executive: Absa Capital
(+2711) 350-6270
E-mail: john.vitalo@absa.co.za
Issued by:
Jacques Badenhorst
Investor Relations
Absa Group Limited
4th floor, Absa Towers East, 170 Main Street, Johannesburg
Tel: (+2711) 350-4061 Fax: (+2711) 350-6487
E-mail: jacques.badenhorst@absa.co.za
Lead sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Co-sponsor:
Absa Capital - Corporate Finance, a division of Absa Bank Limited
Johannesburg
21 September 2006
Date: 21/09/2006 03:49:03 PM Produced by the JSE SENS Department
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