1. 2005 ANNUAL FINANCIAL RESULTS PRESENTATION Monhla Hlahla Managing Director

2. Proposed developments at JIA

3. 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

4. AIRLINE PERFORMANCE (Latest Financial Results) Revenue (million)Operating Profit (m) SAA (ZAR)17 4427%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)14 41712%99645% Lufthansa (USD)13 93920%330544% Cathay Pacific (USD)5 01632%674136% Quantas (USD)8 08321%782135% Monhla Hlahla Managing Director Source: ATI (Air Transport Intelligence)

5. DEPARTING PASSENGERS Monhla Hlahla Managing Director CAGR 7,15%

6. AIRCRAFT LANDINGS Monhla Hlahla Managing Director CAGR 2,64%

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

8. 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

9. 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

10. 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

11. 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

12. Proposed developments at JIA

13. 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

14. Proposed developments at JIA

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

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

17. Proposed developments at JIA

18. FINANCIAL PERFORMANCE Brooks Mparutsa Financial Director

19. 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

20. 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

21. FINANCIAL HIGHLIGHTS 20052004% Change Passenger Traffic13,340,97611,900,01912.11 Revenue1,963,1061,864,8835.27 EBITDA 1,150,6801,124,0552.37 Profit before tax 875,003 715,54922.28 Headline Earnings593,174471,63025.77 Proposed Dividend per Share59,0045,6029,39 Brooks Mparutsa Financial Director

22. Key Indicators for the Financial Year Ended 31 March 2005 20052004% Change Commercial Revenue780,340698,55211,71 NAR (%)45%46%-1.08 Cost to Income (%)53%52%-0.02 Revenue per Employee1,087,750 1,010,9617.6 Capex491,783473,4623.87 Gearing Ratio7.85%6.07%29.37 Brooks Mparutsa Financial Director

23. Proposed developments at JIA

24. 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

25. 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

26. 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

27. 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

28. 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

29. 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

30. Thank you

31. Proposed developments at JIA