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SACOS Announcement

Shareholders are advised that the preparation of the company’s 2016 audited financial accounts has been further delayed. The company has new auditors who have been applying a much higher disclosure standard in accordance with their interpretation of IFRS. Henceforth, the company is being required to consolidate the Life accounts with the Group accounts on a line by line basis contrary to the prior practice of consolidating on a one line basis in both the Balance Sheet and Income Statement. Consequently, this has necessitated additional work for the company which is further delaying the preparation of the audited financial statements.