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In 1964 the common University of Botswana, Lesotho and Swaziland (UBLS) was established and operated until 1974 with its headquarters in Lesotho. Following that, the University of Botswana and Swaziland (UBS) functioned in Swaziland between 1975 and 1976. UBLS conferred its first degrees in April 1967 after a transitional period during which the former Pius XII College students continued to take University of South Africa degrees. Todays stamp is issued in honour of the 1st Conferment of degrees by The University of Botswana. It has a face value of 3 cents. CV is less than one $.