Riverwalk Office Park Block B 41 Matroosberg Road Ashlea Gardens Extension 6 Pretoria South Africa 0081 PO Box 35655 Menlo Park Pretoria South Africa 0102 Tel +27 12 428 8000 Fax +27 12 347 0221 E-mail info@fsb.co.za Toll free 0800 110443/0800 202087 website:www.fsb.co.za

ENQUIRIES: Alta Marais	D. DIALLING NO.:	012 428 8065
OUR REF:	12/12/1	FAX:	012 346 6510
DATE:	3 March 2010	E-MAIL:	altam@fsb.co.za

INFORMATION CIRCULAR PF NO. 1 OF 2010

PENSION FUNDS ACT, 1956 REGULATION 28 – EXEMPTION IN RESPECT OF INVESTMENTS HELD OUTSIDE THE REPUBLIC

Funds are hereby advised that exemptions previously granted in terms of paragraph 28(5) of the Regulations, allowing funds to exceed the 15% limit in respect of investments held outside the Republic to a maximum of 20% until 31 March 2010, will be extended to 31 March 2012 by way of a letter addressed to each fund.

Yours faithfully

JA BOYD
For: Registrar of Pension Funds

Board Members AM Sithole (Chairperson) H Wilton (Deputy Chairperson) T Mokgabudi Prof M Ncube Z Bassa JV Mogadime M Phetla-Lekhethe J Cross Prof PJ Sutherland BM Hawksworth Executive Officer DP Tshidi