Property Activities Leading fund management consolidator, seeking selective trading opportunities Scope of activities • Property Fund Management • Property Services • Property Projects (development and trading) • Listed Property Portfolio Management Strategic focus UK and Europe We are making progress in expanding our property model in the UK to include property fund management and aligning the strategic focus of the UK business with that of South Africa. South Africa Property Fund Management Our strategy has been to: • Grow assets under management. • Pursue the strategic acquisition of individual properties and portfolios. Property Services Our strategic objective is integrally linked to the growth of Property Fund Management Subsequent to the year end we sold our property fund management and property administration businesses to Growthpoint Properties Limited. Property Projects Our strategy is to: • Source development and trading opportunities to create value and trade for profit within agreed risk parameters Listed Property Portfolio Management Our strategic objectives are to: • Substantially increase our assets under management. • Attract foreign investment into South African listed property equities. • Develop global property products. Management structure Global Head of Property Activities Sam Hackner South Africa Regional Head Sam Leon Fund Management Norbert Sasse Property Services Andrew Cox Property Projects Robin Magid Listed Property Portfolio Management Angelique de Rauville Finance Dave Donald