As required by King III, the audit committee has reviewed the integrated annual report and the board has reviewed and approved the report. The financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and the South African Companies Act No 61 of 1973 (as amended), while the integrated annual report was prepared in accordance with the guidelines of the Global Reporting Initiative (GRI) level C. The integrated annual report and financial statements fairly reflect, in our opinion, the true financial position of the group at 31 March 2011 as well as that of its operations during this period as described in the report.

On behalf of the board

Ton Vosloo
Chairman
Cape Town
24 June 2011