ABC Holdings acquired by Atlas Mara

BancABC and AtalsMara BancABC and AtalsMara

A Press Release by BancABC, August 21st, 2014.

Atlas Mara Co-Nvest Limited ("Atlas Mara" or the "Company") announces the closing of its acquisitions of ABC Holdings Limited ("BancABC") and ADC African Development Corporation AG ("ADC").

Atlas Mara was formed by Bob Diamond, Founder of Atlas Merchant Capital LLC and Ashish J. Thakkar, Founder of Mara Group Holdings Limited, and listed on the main market of the London Stock Exchange in December 2013.

With the successful completion of these acquisitions, Atlas Mara is now a fully operational entity and able to continue to execute its strategy of becoming Sub-Saharan Africa's premier financial institution.

Following its $325 million IPO in December 2013, Atlas Mara has obtained access to additional equity capital of $300 million from the private placement of ordinary shares announced in May 2014, which will settle upon Readmission.

Atlas Mara's shareholder base is comprised primarily of "blue chip" institutional investors and the Company was particularly pleased by the high level of participation in the private placement by substantially all of its IPO investors.

As previously announced, Atlas Mara entered into a commitment agreement in June 2014 that provides for debt facilities of up to $200 million to support future growth, subject to certain customary conditions. The terms and conditions of the facility are to be agreed upon at the time the Company requests borrowing under the facility.

Atlas Mara has closed its acquisitions of BancABC and ADC, following which Atlas Mara has acquired a beneficial interest of 95.84% in BancABC, representing a 58.09% direct interest and a 37.75% indirect interest through ADC.

As a result of its acquisitions of BancABC and ADC, Atlas Mara now has operations in five countries (Botswana, Mozambique, Tanzania, Zambia and Zimbabwe) and minority investments in an additional two countries (Nigeria and Kenya) in Sub-Saharan Africa. These acquisitions have created a strong foothold for Atlas Mara in the commercially important Southern African Development Community ("SADC").

The Company has recruited and/or engaged as consultants a number of individuals with exceptional investment and management experience in Africa. These include: John Vitalo, CEO (formerly CEO of Barclays MENA and ABSA Capital); Doug Munatsi, CEO of BancABC; Jyrki Koskelo, Head of M&A and Corporate Development (formerly a VP at the World Bank and the IFC); Bradford Gibbs, Acting CFO (formerly Head of Investment Banking in South Africa at Morgan Stanley), Konde Bugingo, intended CEO of the commercial arm of BRD, upon closing (formerly CEO of RSwitch); and Kenroy Dowers, Head of Development Finance Institutions (formerly a senior officer at the IFC).

Further to the appointment of John Vitalo as CEO, the Company announces that, on closing of the ADC and BancABC acquisitions, John Vitalo has been appointed to the Atlas Mara Board of Directors.

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