One of the 12 men who allegedly robbed a Flagstaff pension pay-out died following a shootout with police, Eastern Cape police said on Thursday.

Superintendent Mike Fatyela said the alleged robber was shot dead in a forest on Wednesday.

Four firearms were recovered at the scene, he added.

Twelve men armed with AK47 rifles, 9mm pistols and shotguns — and wearing balaclavas — allegedly robbed a CPS security van of close to R500 000 at the Sigodlweni administrative area earlier on Wednesday, said Fatyela.

A security guard was shot and wounded by the robbers.

The robbers fled in a white Hyundai bakkie that was later found abandoned not far from the scene, he said.

"They left the bakkie and fled into the nearby forest, where they divided themselves into two groups.

"One was shot and killed and the other 11 are still at large," said Fatyela.

Sapa