2005 ANNUAL FINANCIAL RESULTS PRESENTATION Monhla Hlahla Managing Director

Proposed developments at JIA

ECONOMIC AND INDUSTRY ANALYSIS  Continued Rand strength;  Interest Rates at 20 year lows;  GDP growth exceeded forecasts and domestic driven;  Impact of low cost carriers;  High oil price continue to put pressure on airlines. Monhla Hlahla Managing Director

AIRLINE PERFORMANCE (Latest Financial Results) Revenue (million)Operating Profit (m) SAA (ZAR) %1 111>100% BA Comair (ZAR)1 4748%4129% Kenya Airways (USD)52438%73103% Ethiopian Airlines (USD)39020%3197% Air Mauritius (USD)48019%597% British Airways (USD) %99645% Lufthansa (USD) %330544% Cathay Pacific (USD) %674136% Quantas (USD) %782135% Monhla Hlahla Managing Director Source: ATI (Air Transport Intelligence)

DEPARTING PASSENGERS Monhla Hlahla Managing Director CAGR 7,15%

AIRCRAFT LANDINGS Monhla Hlahla Managing Director CAGR 2,64%

STRATEGIC THRUSTS Exploit New Opportunities  Continue efforts to diversify revenue streams;  Mozambique concession;  Mumbai Airport privatisation bid and;  Property income. Monhla Hlahla Managing Director

STRATEGIC THRUSTS Increase Shareholder Value  R492m invested in infrastructure development;  EBITDA increased 2.37% to R1,151m;  Profit before tax increased by 22% to R875m;  Headline Earnings increased by 26% to R593m;  Economic Value Added increased by 168% to R152m;  Proposed dividends increased by 29% to R295m and;  Contribution of taxes to the South African fiscus increased by 16.3% to R283m. Monhla Hlahla Managing Director

STRATEGIC THRUSTS International Benchmarks  Provide world-class safe and secure infrastructure and services;  JIA awarded the Skytrax Best Airport in Africa;  AETRA rated CIA as the second best airport in the Africa and Middle East region;  AETRA rated DIA as the third best airport in the region and was rated fifth in the world within its passenger category;  Significant progress made in addressing safety and security issues. Monhla Hlahla Managing Director

STRATEGIC THRUSTS Unlock Human Capital  Continued investment in training;  Project “Soaring Service” launched – aimed at improving customer service- focused competencies and behaviours;  Talent attraction and retention including talent mapping;  Woman development programme;  Continuous improvement in Performance Management;  HIV / AIDS prevention and awareness campaigns;  Employment Equity. Monhla Hlahla Managing Director

STRATEGIC THRUSTS Good Corporate Citizen  Extensive Corporate Social Responsibility Programme including Wheelchair Tennis South Africa, construction of a crèche in Katlehong;  ACSA’s development plans will generate 18,000 temporary jobs and approximately 1,800 permanent jobs in the industry;  45% of general services and 51% of consultancy services procured from BEE companies (including state owned enterprises)  Corporate Governance Monhla Hlahla Managing Director

Proposed developments at JIA

Johannesburg International Airport NEW INTERNATIONAL PIER NEW ECHO APRON NEW CENTRAL TERMINAL BUILDING (CTB) NEW MULTI- STOREY PARKADE (MSP2) NEW MULTI- STOREY PARKADE (MSP3) NEW GAUTRAIN RAIL AIRPORT LINK Monhla Hlahla Managing Director

Proposed developments at JIA

Cape Town International Airport NEW DOMESTIC TERMINAL NEW CENTRAL TERMINAL BUILDING (CTB) NEW MULTI-STOREY PARKADE (MSP1) Monhla Hlahla Managing Director

Durban International Airport EXISTING TERMINAL UPGRADE POSSIBLE DOMTEX TERMINAL EXTENSION NEW MULTI-STOREY PARKADE (MSP1) Monhla Hlahla Managing Director

Proposed developments at JIA

FINANCIAL PERFORMANCE Brooks Mparutsa Financial Director

FINANCIAL OVERVIEW  Financial performance satisfactory;  Passenger traffic growth spurred revenue growth;  Commercial initiatives in changing environment and;  All airports achieve positive EBITDA Brooks Mparutsa Financial Director

HIGHLIGHTS Passenger Traffic12.1 % Commercial Revenue11.7% EBITDA2.4 % Profit before tax22.3 % Headline Earnings25.7 % Proposed Dividends per Share29.4 % Monhla Hlahla Managing Director

FINANCIAL HIGHLIGHTS % Change Passenger Traffic13,340,97611,900, Revenue1,963,1061,864, EBITDA 1,150,6801,124, Profit before tax 875, , Headline Earnings593,174471, Proposed Dividend per Share59,0045,6029,39 Brooks Mparutsa Financial Director

Key Indicators for the Financial Year Ended 31 March % Change Commercial Revenue780,340698,55211,71 NAR (%)45%46%-1.08 Cost to Income (%)53%52%-0.02 Revenue per Employee1,087,750 1,010, Capex491,783473, Gearing Ratio7.85%6.07%29.37 Brooks Mparutsa Financial Director

Proposed developments at JIA

REGULATORY ENVIRONMENT  ACSA and the airlines (the industry), jointly presented a proposal of a regulatory approach that the industry believes will create a predictable and stable regulatory environment that also improves transparency. Brooks Mparutsa Financial Director

CAPITAL EXPENDITURE  ACSA envisages spending R5.2bn in the period to 2009 and;  Continued high inflation within the building and construction industry is a significant risk for ACSA. Brooks Mparutsa Financial Director

TRAFFIC  Domestic traffic growth is forecast to decelerate following a period of significant growth;  Low Cost Carriers will continue to contribute to traffic growth;  New airlines envisaged in 2006 include: Etihad Airways; Gulf Air; Thai Airways; Virgin Nigeria and Ghana International. Brooks Mparutsa Financial Director

CAPITAL STRUCTURE  ACSA capital structure is not optimal.  In delivering the planned infrastructure, ACSA intends on finalising it’s capital structure, enhancing shareholder value. Brooks Mparutsa Financial Director

DUBE TRADEPORT  ACSA continues to engage the KwaZulu-Natal Provincial Government on matters pertaining to the development of the Dube Tradeport and in particular, the King Shaka International Airport. Brooks Mparutsa Financial Director

SAFETY AND SECURITY  Aviation security remains a strategic focus for ACSA;  Key in delivering aviation security is co-operation and interdependence with the airlines and organs of state such as SAPS; Home Affairs, Customs, CAA etc.;  SAPS will deploy in excess of 500 additional officers to JIA as well as investment in capital equipment;  Key components in ACSA’s strategy is continued and accelerated investment in capital equipment as well as personnel;  The National Aviation Security Plan has been approved and implementation will commence during the 2006 financial year. Brooks Mparutsa Financial Director

Thank you

Proposed developments at JIA