directors' approval

The directors are responsible for the preparation and integrity of the financial statements and related financial information, and ensuring that the financial statements fairly present the state of affairs of the company and of the group.

The financial statements have been prepared in accordance with International Financial Reporting Standards and are based on appropriate accounting policies which have been consistantly applied in all material respects, and are supported by reasonable and prudent judgements and estimates, where appropriate.

The directors, supported by the audit committee, are of the opinion, based on the information and explanations given by management and the internal auditors and on comment by the independent auditors on the results of their statutory audit, that the group’s system of internal accounting controls is adequate, so that the financial records may be relied upon for preparing the financial statements and maintaining accountability for assets and liabilities.

The directors believe that the group has adequate resources to continue in operation for the foreseeable future and will therefore continue to prepare the annual financial statements on the going concern basis.

Other than the information given in note 33 of the financial statements, no event, material to the understanding of this report, has occurred between the financial year-end and the date of this report.

The audited annual financial statements, were approved by the board of directors and are signed on its behalf by:

DM Nurek   DA Kneale
Chairman   Chief Executive Officer

Cape Town
4 December 2006