He will join Murray & Roberts on 11 June 2005 and will be stationed in Dubai from where he will play a key role in the establishment and management oversight of major projects throughout the Group. This will include projects in Cementation Canada and the Dubai Airport with Peter Adams, Clough Murray & Roberts in the Middle East, Australia and Southeast Asia and as appropriate, major projects within South and southern Africa.

Bal Panicker was born and schooled in India and joins us from Bechtel in the United States, where he was Principal Vice President and head of global mining & minerals. He has followed an illustrious career with Bechtel spanning more than 35 years, 15 years of which he spent in Chile. It is anticipated that Bal will play a key role mentoring project management capacity and systems throughout our Group and associate companies.

The search for a Group Projects Director has offered the opportunity to secure world class executive capacity in the core business sector of our Group, and will free much of my time to focus on the significant further challenges we face in our journey Globalising Murray & Roberts.

Bal is married to Ammu and they have their home in Denver, Colorado in the United States. He is an electrical engineer with masters degrees in science and business administration.

Brian Bruce