SHAREHOLDERS' ANALYSIS

FOR THE YEAR ENDED 31 DECEMBER

Register date: Authorised share capital: Issued share capital:	24 December 2008 600 000 000 shares 468 939 397 shares
Shareholder spread		No of shareholdings	%	No of shares	%
1 – 1 000 shares		12 685	80,02	2 738 106	0,58
1 001 – 10 000 shares		2 421	15,27	6 871 348	1,47
10 001 – 100 000 shares		562	3,55	18 855 821	4,02
100 001 – 1 000 000 shares		147	0,93	40 394 136	8,61
1 000 001 shares and over		37	0,23	400 079 986	85,32
Total		15 852	100,00	468 939 397	100,00
Distribution of shareholders
Banks		148	0,93	52 122 153	11,12
Close corporations		114	0,72	223 112	0,05
Empowerment		33	0,21	45 418 292	9,69
Endowment funds		73	0,46	382 797	0,08
Individuals		12 467	78,65	8 117 165	1,73
Insurance companies		57	0.36	10 379 862	2,21
Investment companies		67	0,42	7 664 556	1,63
Medical schemes		14	0,09	210 144	0,04
Mutual funds		310	1,96	25 569 374	5,45
Nominees and trusts		1 892	11,93	3 211 665	0,68
Old Mutual Life Assurance Company (SA) Limited and associates		44	0,28	252 690 746	53,89
Other corporations		115	0,73	372 233	0,08
Private companies		245	1,55	954 945	0,20
Public companies		25	0,16	276 963	0,06
Retirement funds		244	1,53	43 315 390	9,24
Share trusts*		2	0,01	3 082 771	0,66
Treasury shares		2	0,01	14 947 229	3,19
Total		15 852	100,00	468 939 397	100,00
Public/Non-public shareholders
Non-public shareholders		104	0,66	316 664 622	67,52
Directors and associates of the company**		12	0,08	954 368	0,20
Old Mutual Life Assurance Company (South Africa) Limited and associates		44	0,28	252 690 746	53,89
Treasury shares		2	0,01	14 947 229	3,19
Nedbank/Nedbank Group pension funds		3	0,02	121 612	0,03
Nedbank Group Limited and associates (share trusts)*		2	0,01	3 082 771	0,66
Nedbank Group Limited and associates (mutual funds)		17	0,11	583 468	0,12
Nedbank Group BEE trusts – South Africa*		13	0,08	43 618 748	9,30
Nedbank Group BEE trusts – Namibia		11	0,07	665 680	0,14
Public shareholders		15 748	99,34	152 274 775	32,47
Total		15 852	100,00	468 939 397	100,00

*	Excludes shares held by directors in share trusts (executive directors only) and Eyethu schemes. Refer here.
**	Includes shares held by directors in share trusts (executive directors only) and Eyethu schemes.

Major shareholders/managers		No of shares		Dec 2008 % holding		Dec 2007 % holding
Old Mutual Group		254 616 529		54,30		53,20
Old Mutual Life Assurance Company (SA) Limited and associates (SA)		252 690 746		53,89		52,95
Old Mutual Investment Group (SA)		1 925 783		0,41		0,25
Nedbank Group treasury shares (SA)		59 231 657		12,63		12,48
BEE trusts:
	Eyethu Scheme – Nedbank South Africa	41 190 909		8,78		9,09
	Omufima Scheme – Nedbank Namibia	665 680		0,14		0,14
Nedbank Group (2005) Share Option, Matched Share and Restricted Share Scheme		2 427 839		0,52
Nedbank Group Limited and associates (Capital Management)		14 715 049		3,14		3,20
NES Investments (Pty) Limited		232 180		0,05		0,05
Public Investment Corporation (SA)		23 562 600		5,02		5,31
Lazard Asset Management (US)		14 702 051		3,14		1,29
Sanlam Investment Management (SA)		13 770 167		2,94		2,74
RMB Asset Management (SA)		9 440 374		2,01		0,47
Barclays Global Investors (US)		5 448 456		1,16		1,04
Boston Company Asset Management (US)		5 235 837		1,12		1,36
Beneficial shareholders holding 5% or more						No of shares
Old Mutual Life Assurance Company (SA) Limited and associates (SA)						252 690 746
Public Investment Corporation (SA)						30 433 723
Total						283 124 469
Geographical distribution of shareholders		No of shares		Dec 2008 % holding		Dec 2007 % holding
Domestic		411 730 572		87,80		89,55
	South Africa	405 190 165		86,41		88,37
	Botswana	65 241		0,01
	Namibia	3 104 919		0,66		0,40
	Unclassified	3 370 247		0,72		0,78
Foreign		57 208 825		12,20		10,45
	United States of America	41 833 966		8,92		7,09
	United Kingdom and Ireland	4 125 969		0,88		0,82
	Europe	1 980 813		0,42		1,51
	Other countries	9 268 077		1,98		1,03
		468 939 397		100,00		100,00