SHAREHOLDER UPDATE – AGM APRIL 2008

2 1.Objectives of Eyomhlaba 2.Current position (ignoring Ellerines deal) 3.Current position taking EHL deal into account 4.A snapshot of Eyomhlaba’s indicative NAV as at 31 March 2008 (includes comparatives as at 31 Mar 07) 5.Planned communication with Eyomhlaba shareholders in The Eyomhlaba board of directors (who, how they were appointed, rotation & re- election) 7.Example of dividend calculation 8.Projection of future dividend 9.Designated (reserved) shares 10.Eyomhlaba’s priorities for ABIL’s strategic priorities for 2008 Contents

3 As a financial institution, ABIL adheres to the Financial Sector Charter (FSC Charter); The FSC Charter sets a minimum target of 10% direct ownership of a financial institution by black people by 2010; Eyomhlaba is ABIL’s BEE scheme set up to facilitate broad based ownership of ABIL by black people; Eyomhlaba targeted to own at least 10% of ABIL by 2015; Eyomhlaba structured with low borrowings to increase its ability to succeed in achieving its objective. 1. Objectives of Eyomhlaba

2. ABIL’s Black Equity Ownership Programme: Current position (ignoring Ellerines deal) as at 28 February Existing ABIL shareholders ABIL 93.2% Directors & employees (47%) Black ABIL customers (1%) Existing ABIL black shareholders (15%) Black general public (37%) Eyomhlaba 6.8% R93 m Shares issued at par creating R413m value in Eyomhlaba on 24 Oct 2005 Funders RMB / Barclays R150 m

3. ABIL’s Black Equity Ownership Programme: Current position taking Ellerines deal into account as at 28 February Eyomhlaba shareholding m ABIL shares issued to BEE entity at par 20.2 ABIL shares purchased in open market utilising borrowings and shareholder subscriptions (IPO) 5.4 ABIL shares purchased in open market utilising dividend income rights offer and private placement proceeds 8.5 Total ABIL ordinary shares held by Eyomhlaba 34.1 Total ABIL shares in issue Eyomhlaba's direct shareholding in ABIL 4.3%

4. A snapshot of Eyomhlaba’s indicative NAV as at 31 March

5. Planned communication with Eyomhlaba shareholders in 2008 AGM in JHB at 10am on Sat, 5 April 2008; Road shows in Cape Town, Dbn, Groblersdal and Pretoria prior to AGM; Statements reflecting Eyomhlaba shares held at 31 December 2007 and 30 June 2008 to be posted to each shareholder. From June 2008 onwards, statements to also reflect the latest Eyomhlaba NAV per share; ABIL’s interim results to 31 March 2008 and annual report to 30 September 2008 will be posted to shareholders; Text messages advising shareholders of the latest NAV will be sent in April and October; 7

5. Planned communication with Eyomhlaba shareholders in 2008 (continued) Eyomhlaba annual report (AR) to 31 December 2007 was posted to shareholders. The Chairman’s report has for the first time been translated to isiZulu on the AR. Translations to other African languages will be done in future AR’s. Eyomhlaba’s interim results to 30 June 2008 will be sent to shareholders during August 2008; Contact our call centre on (0860 ABL BEE) (or in the – No Eyomhlaba correspondence is received; – Address changes – Cellphone number (s) and other contact details change 8

6. Eyomhlaba board of directors There currently are 8 board members, all non-executive and shareholders in Eyomhlaba; 3 directors are also ABIL executives, 1 is an ABIL non-executive director and 4 are independent of ABIL; All directors, except for the 3 ABIL executives, earn nominal directors fees; All the directors were elected by members at the first AGM during August 2006; A third of the directors (i.e. 3 directors) retire annually and should they offer themselves for re-election, shareholders vote for or against their re-election at the AGM, in person or by proxy; In the event a director retires and does not stand for re-election, the directors of Eyomhlaba would recommend person (s) for election as directors at the next AGM of Eyomhlaba. 9

7. Example of dividend calculation 10

8. Projection of future dividend 11

9. Designated (reserved) shares The reserved (or unissued) shares may be issued to new ABIL employees and directors by no later than 31 December 2009 at discounts not greater than 85% of net asset value; Shares not issued at that date will be issued by way of a rights offer to existing shareholders in 2010; During the year ending 31 December 2007, 2 million shares were issued to a new non- executive director of ABIL at an 85% discount of NAV; A total of 3,5 million shares remain unissued at end February 2008; ABIL employees, who joined the company after the Eyomhlaba initial public offer had closed, will be offered an opportunity to buy shares through private placements at discounts of 85% of NAV. 12

10. Eyomhlaba’s priorities for 2008 Issue reserved shares to new ABIL employees; Preference share funding – consider redemption of existing preference shares and / or raise additional funding to purchase more ABIL ordinary shares; Consider and set level of ordinary dividends to be paid (assuming resolution will be approved at the AGM) at the end of the 2008 financial year; Communicate with shareholders in the manner planned and articulated above; Update the Eyomhlaba website ( 13

11. ABIL’s strategic priorities for 2008 Drive down cost of credit; Increase the universe of clients; Continuing development and growth of the credit card product; Improved levels of client service; Strategic integration of the Ellerines business and leveraging the opportunities ABIL brings to their credit offering. 14

Thank you