1. PAM GOLDING PROPERTIES (MCD) AND MAXIMILLIAN INVESTMENTS 28 AUGUST 2009 PRESENTATION BY: BRYAN TYRER PAM GOLDING PROPERTIES – MIDLANDS COMMERCIAL DIVISION IN PARTNERSHIP WITH MAXIMILLIAN INVESTMENTS

2. KwaZulu-Natal Department of Public Works: Women in Construction & Property Summit 2009 GREETINGS  WOMEN IN PARTICULAR  OUR HONORABLE PREMEIR OF KZN  OUR HONORABLE MEC OF KZN WORKS  OUR HONORABLE MAYOR  AND GREETINGS TO ALL

3. CHALLENGES FACING THE PROPERTY SECTOR  PROPERTY OWNERSHIP 1. HISTORICALLY IT WAS RIGHT 2. TODAY IT IS THE FOUNDATION OF WEALTH CREATION  BLACK PEOPLE COULD NOT OBTAIN TITLE DEEDS OR TRADE IN PROPERTIES THEREFORE EXCLUDED CREATE / ACCUMULATING WEALTH  IN PRACTICE SKEWED PATTERNS OF OWNERSHIP,PARTICIPATION AND BENEFIT REMAIN DUE TO THE FOLLOWING: 1. ADMINISTRATIVE CONSTRAINTS 2. LEGAL CONSTRAINTS 3. FINANCIAL CONSTRAINTS PARTICULARLY IN UNDER-DEVELOPED AREAS

4. CONTINUATION  COMMERCIALLY – OWNERSHIP IS DOMINATED BY: 1. COLLECTIVE INVESTMENTS SCHEMES 2. PROPERTY LOAN STOCKS 3. LISTED PROPERTY COMPANIES  COMPANIES IN THIS SECTOR HAVE INADEQUATELY ADDRESSED EMPLOYMENT EQUITY  LACK OF INVESTMENT IN SKILLS DEVELOPMENT AND COMMITMENT TO WORKPLACE TRAINING  PREFERENTIAL PROCUREMENT HAS NOT BEEN IMPLEMENTED  LACK OF SUSTAINABLE ENTERPRISE DEVELOPMENT SUPPORT  LIMITED APPRECIATION OF PROPERTY AS A CAREER OR PROFESSION (TERTIARY)  LACK OF INVESTMENT AND PROPERTY DEVELOPMENT IN UNDERDEVELOPED AREAS

5. OPPORTUNITIES IN PARNTERING WITH WELL ESTABLISHED COMPANIES  EMPLOYMENT EQUITY – THESE COMPANIES ARE UNDER PRESSURE TO COMPLY  SKILLS DEVELOPMENT – THESE FIRMS HAVE IN-HOUSE TRAINING PROGRAMMES & LEARNERSHIP PROGRAMMES  PROCUREMENT – PROVIDE ROUTINE WORK BECAUSE OF THEIR SIZE E.G. SANLAM PROPERTIES

6.  ENTERPRISE DEVELOPMENT – VUSANI PROPERTY INVESTMENT SANLAM FUNDED THE EQUITY AND NEDBACK PROVIDED THE LOAN ****RARE OCCURENCES OPPORTUNITIES IN PARNTERING WITH WELL ESTABLISHED COMPANIES - continued

7.  OWNERSHIP – THE SHABALALA PAM GOLDING JV AT BRIDGE CITY 1. PROPERY INTELLIGENCE 2. INFRASTRACTURE 3. HUMAN RESOURCE SUPPORT  CONTROL 1. THESE FIRMS ARE PREPARED TO GIVE UP MAJORITY IN PERSUIT OF MEETING THE PROPERTY CHARTER 2. ALLOWING FLEXIBITY OPPORTUNITIES IN PARNTERING WITH WELL ESTABLISHED COMPANIES - continued

8. THANK YOU