SENS Note - 01 August 2007

Infrasors - results of the private placement

As a result of the private placement of fresh shares issued by Infrasors, the capital sum raised of R263 117 201 was R121 882 799 less than the maximum of R385 000 000 if the offer for the issue of fresh shares in Infrasors had been fully subscribed. As a result of the amount raised the Infrasors Empowerment Trust which is taking up 24 million Infrasors shares at a cost of R132 million will be externally funded to the extent of approximately 60% and funded by Infrasors to the balance of approximately 40%. This has the effect of enhancing the level of black ownership in Infrasors from the 27.4% previously envisaged to 30.8% which is in line with the requirements of the construction sector charter and in excess of the ownership targets contained in the Codes of Good Practice issued by the Minister of Trade and Industry. The capital sum raised is sufficient for Infrasors' capital expenditure programs, working capital requirements and vendor payments.