MOODY'S INVESTORS SERVICE REPOSITIONS THE NATIONAL SCALE RATINGS OF REAL PEOPLE INVESTMENT HOLDINGS LIMITED

Bond holders are advised that Moody's Investors Service (“Moody’s”) has, on 10 May 2016, repositioned the National Scale Rating (NSR) of Real People, in conjunction with the recalibration of the South African national rating scale and as part of the implementation of Moody’s updated methodology.

Real People’s NSR Long Term (LT) Issuer Rating (Local Currency) repositioned to B3.za from Ba3.za. Real People’s Global Scale Rating (GSR) LT Issuer Rating (Local Currency) published at B3 Negative and the GSR Short Term (ST) Issuer Rating (Local Currency) published at NP.

Bond holders are referred to the Moody's press release for any additional information.