ANNUAL FINANCIAL STATEMENTS

Directors’ Approval

The directors are responsible for the preparation of the annual financial statements and other information contained in this annual report. In their opinion, the financial statements set out in this report fairly represent the state of affairs of the company and of the group. The financial statements have been prepared in accordance with IFRS and in the manner required by the Companies Act of South Africa.

The external auditors are responsible for conducting an independent audit of the annual financial statements of the company and its subsidiaries in accordance with International Standards on Auditing and reporting their opinion to shareholders. Their report is presented here.

The directors have reviewed the group’s budget and cash flow forecast for the year to 30 June 2009. On the basis of this review, and in the light of the current financial position and existing borrowing facilities, the directors are satisfied that the group is a going concern and have continued to adopt the going concern basis in preparing the financial statements.

The financial statements were approved by the board on 16 October 2008 and are signed on its behalf by:

H Adams
Chairman

A Funkey
Chief Executive Officer