News and Press

01 December 2008

CHANGE IN BOARD MEMBERSHIP

Mr Kevin Hedderwick, a non-executive director of Capitec and Capitec Bank Limited ("Capitec Bank"), the wholly owned banking subsidiary of Capitec ("the companies"), has decided to retire from the boards of the companies for personal reasons. Mr Hedderwick's retirement is effective 24 November 2008.

The boards of Capitec and Capitec Bank wish to thank Mr Hedderwick for his valued contribution and bid him well in his future endeavours.

Stellenbosch
1 December 2008