March 26, 2009 at 5:00 AM EDT
JSE JSE - JSE Limited - Voluntary announcement JSE LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2005/022939/06) Share Code: JSE ISIN Code: ZAE000079711 ("JSE") VOLUNTARY ANNOUNCEMENT JSE advises market of statement from Stock Exchange of Mauritius (SEM) In response to recent media reports regarding the acquisition by the JSE of a strategic stake in the SEM, the JSE would like to draw the market's attention to the following statement released by the SEM and published in the Mauritian press today (26 March): "Further to the publication of various media reports regarding the strategic partnership between the Stock Exchange of Mauritius (SEM) and the Johannesburg Stock Exchange (JSE), the SEM would like to inform its stakeholders and the public of the following: 1. The SEM submitted on 16th January 2009 an application to the Financial Services Commission (FSC) seeking its approval of the proposed SEM/JSE strategic partnership. The application contained documents which explained, inter-alia, the rationale of the strategic partnership, the list of deliverables to be implemented within a 3 year period to scale up the activities of the SEM and further internationalise the SEM and capital markets in Mauritius, the joint medium-term strategy in Africa, and the corporate governance structure to be set up in the context of this partnership to ensure smooth decision-making. 2. The decision to enter into a strategic partnership with the JSE has essentially been driven by the potential positive impact that such a relationship could have on the future of capital markets in Mauritius and the positioning of Mauritius as an international financial services center. 3. The SEM has had extensive discussions with the FSC and has provided the latter with all information and explanations required. 4. The SEM has been informed by the FSC, in a letter dated 20 March 2009, that the FSC is unable to approve the SEM/JSE partnership under the terms as proposed in the documents submitted and other representations made to it. 5. The SEM is still in the process of engaging with the FSC to consider ways and means of addressing the concerns of the FSC to the satisfaction of all the parties concerned. The stakeholders of the SEM and the public will be kept informed of any further development on this matter." The JSE will likewise inform the market of any further developments. Sandton 26 March 2009 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 26/03/2009 07:05:02 Produced by the JSE SENS Department.