ADC African Development Corporation GmbH & Co. KGaA: Rights offering for ADC bond with warrants attached 2012/2015 to commence today ++ Financing of further growth with the aim of becoming one of the leading pan-African banking groups

To finance further acquisitions, ADC African Development Corporation GmbH & Co. KGaA ('ADC'), ISIN DE000A1E8NW9, a fast growing pan-African banking group focused on the frontier markets of sub-Saharan Africa announced the issuance of a bond in the volume of up to EUR 40m on 17 April 2012.

The rights offering for the statutory subscription rights of up to 400.000 bonds with warrants attached was published together with further details in the electronic German Federal Gazette ('Bundesanzeiger') on 11 May 2012. Shareholders will be granted an indirect subscription right in the ratio of one (1) bond with warrants attached for every twenty one (21) shares at a subscription price of EUR 100.00 each. In addition, there is a possibility to subscribe to additional shares.

The subscription period commences today, Monday 14 May 2012 and will terminate on 29 May 2012 at 6pm CET. To enable the ADC management to already give firm commitments, ADC's key shareholders have guaranteed the issuance.

In the event of not all bonds with warrants attached being subscribed to within the context of the rights issue, any remaining bonds with warrants attached are to be offered by way of private placement to interested investors (in this instance, however, at least 5,000 option bonds, i.e. nominal EUR 500,000.00 bonds must be acquired).

The bond with warrants attached - whereby solely the bond and option terms and conditions are legally binding - is basically structured as follows:

1) Division into bonds of nominal value of EUR 100.00

2) Interest rate of 6% per annum, interest to be paid annually

3) Expiry on 31.05.2015

4) Re-payment of 100% of nominal value

5) With every partial bond with warrants attached, there are five (5) separate warrants attached; in accordance with the terms and conditions of the bond and the warrants, each warrant entitles the bearer to purchase one no-par value share of ADC African Development Corporation GmbH & Co. KGaA at a price of EUR 14.00 up to the maturity date (31.05.2015).

6) The bond with warrants attached will be secured with the shares of ABC Holdings Ltd., ('BancABC') a banking group situated in Botswana, which are currently held by the company or will be acquired via the funding of the bond with warrants attached.

7) The bond with warrants attached will be listed on a stock exchange.

Our shareholders can log on to our website

http://www.african-development.com/en/investor-relations/investor-information/bond-with-warrant/disclaimer/?language=en

and download the complete documentation on the bonds with warrants attached 2012 including the terms and conditions thereof.

Dirk Harbecke, CEO of ADC, comments: 'With the issuance of the warrant bond, ADC will be placed in a position to once again significantly accelerate the already strong growth as a pan-African banking group. Likewise, the bond with warrants attached is a very attractive investment opportunity for investors who aim to participate in the African continent with a view to optimizing risk. The bond portion of the bond with warrants attached is not only very well secured by the strong ADC balance sheet in general but also, in particular, by BancABC shares which are pledged as security. At the same time, investors are fully participating in the rapid market growth in sub-Saharan Africa.'

About ADC

ADC African Development Corporation, ISIN DE000A1E8NW9 (ticker symbol: AZC.GR), a member of the Angermayer, Brumm & Lange Group (www.abl-group.de), was established in September 2007 and aims to become one of the leading banking groups in sub-Saharan Africa, active in corporate and retail banking as well as insurance business and proprietary investments. ADC also provides high level advisory services to international clients who wish to pursue investment and business opportunities in the highly attractive African growth markets. The company's success is primarily due to its local management team, which follows international best practice principles to further develop its operational companies and implements conventional international processes to increase their profitability. As the second international emerging market investor in the world, ADC was integrated into the insurance solution offered by the Multilateral Investment Guarantee Agency ('MIGA'), a member of the World Bank Group, primarily due to its strong operational approach and adherence to the highest ethical standards. This insurance offers protection against a variety of political risks, in particular the risk of radical political change.

Contact:
Investor Relations
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