ABSA Adopts Equator Principles

22 October 2009—Amalgamated Banks of South Africa Group Limited, ABSA Group Ltd. (ABSA) confirmed its commitment to environmental sustainability by announcing that the bank has adopted the Equator Principles. This formally qualifies ABSA as an Equator Principles Financial Institution and puts the bank in step with the world’s top financial institutions, including its principal shareholder, Barclays. ABSA has been operating within the Barclays ambit of the Equator Principles for the last 2 years, but having further enhanced its internal environmental risk management resources, it decided to formalize its commitment by independently adopting the Principles. ABSA is the biggest banking group in South Africa and ranks fourth for its assets in South Africa after the Standard Bank of South Africa, First Rand Bank and Nedcor Bank. ABSA’s adoption of the Equator Principles is sure to improve the management of the environmental and social risks of the banking industry in South Africa and reduce the adverse effects of financing projects on the environment and communities. (From www.equator-principles.com)