THE EMPLOYMENT EQUITY ACT

(Act 55 of 1998)

Employment Equity Policy

The company is committed to creating a workplace in which no one is denied employment opportunities or benefits for reasons which are not related to ability, and where no one is unfairly discriminated against.

It is recognised that commitment is needed from the company and all employees if the Employment Equity Act is to be implemented successfully as an appropriate response to eradicate historical imbalances created by any form of social discrimination.

The company further recognises and respects the right to both dignity and self-determination identity. Accordingly, and wherever possible given the requirements of the prevailing legislation, the company will uphold the rights of individuals not to be publicly categorised by race, gender or disability against their will. The company will strive to provide opportunities for black people, women and persons with disabilities to become equal competitors for every post that becomes available.

Consistent with the principals of employment equity, the company is committed to reviewing on an ongoing basis all its policies and related procedures to ensure alignment with its Employment Equity Policy.

Using the company's Recruitment Policy and Procedures as a framework, every reasonable effort will be made to appoint suitable internal and external candidates from the designated groups to vacant positions. The focus of the strategy will be pro-active and long term, rather than reactive and short-term. Therefore, succession planning will be used, and an attempt must be made to identify the potential of internal and external candidates from the designated groups, with a view also to providing appropriate education and skills development opportunities.

In a transformed society, the staff profile of the company should broadly reflect appropriate South African demographics while, at the same time, including people of other nationalities who bring the expertise and leadership that contributes to the work of a company located in Africa. The immediate aim of the company is to ensure the development of a critical mass of Black staff, with an equitable representation of women and people with disabilities, at all levels.

Mr. Alberto Tavares has been assigned the responsibility and authority for implementing employment equity initiatives in the company.

A consultative forum will meet quarterly to monitor the overall progress made by the company in achieving its employment equity objectives and implementing employment equity plans. This forum will report its views to Mr. Alberto Tavares with responsibility for transformation, and will advise Mr. Tavares on measures that may be desirable to meet the objectives of the company's Employment Equity Plan.

The board of directors will receive regular reports on the implementation of the Employment Equity Plan, and it will review the policy and plan in the light of these on a regular basis.