Lereko Metier Capital Growth Fund (Lereko Metier Fund "or" LMCGF")

Lereko Metier Capital Growth Fund ("Lereko Metier Fund" or "LMCGF"). The Lereko Metier Fund (51% led by Lereko and 49% by Metier) has being established to capitalise on the extensive experience and credentials of its principals to exploit and develop investment opportunities in South Africa. The Fund has six principals, three of whom are from Lereko.

The LMCGF will target commitments of up to R2.0bn from a small number of sophisticated investors, to make equity and equity-related investments of R50m to R500m each. These investments will generally be privately negotiated in both listed and unlisted securities. The Fund¹s investment strategy aims to achieve above-average risk-adjusted returns targeted to exceed 30% by acquiring controlling or significant minority positions in portfolio companies in which the skills of the Lereko Metier Fund Manager will be applied to maximise investment and company performance.

The Fund targets investments in sectors which capture sustained growth resulting from structural changes implemented in the socio-political business environment in the South African region, can benefit from further transformation in line with BEE imperatives and require the added value derived from association with Lereko. Investments will be concentrated on, inter alia, food and consumer products, manufacturing including packaging, and mining resources and chemicals sectors.

In January 2007 the Fund concluded a transaction to acquire a 20% equity stake in DataPro Group, a leading alternative, independent telecom operator, providing voice and data services to the Southern African market.