Shareholders are referred to the Business Update published on SENS following the annual general meeting on 25 October 2006. The strong performance experienced during the second half of the previous financial year continues and has been enhanced by the acquisition of Concor Limited with effect from 1 July 2006 and a return to profitability in Construction SADC and associate company Clough Limited.

Diluted headline earnings per share (“HEPS”) for the six months to 31 December 2006 is expected to show an increase of between 60% and 80% over the 65 cents (excluding the effect of the Group’s BBBEE transaction) (“Adjusted HEPS”) recorded in the previous comparable period.

Shareholders are reminded that the Group’s BBBEE transaction concluded in December 2005 reduced HEPS to 42 cents in the previous comparable period.

Revenue remains strong and is expected to grow between 40% and 60% year-on-year with comparable growth in Adjusted HEPS.

This Trading Statement has not been audited or reviewed and is provided in terms of paragraph 3.4(b) of the JSE Listings Requirements.

Johannesburg
30 November 2006

Sponsor
Merrill Lynch South Africa (Pty) Ltd