13/2/22 PEPKOR - Welcome to Pepkor Limited

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Dr Christo Wiese, controlling shareholder of the reconstituted Pepkor group, was motivated torestructure in order to unlock value for shareholders. At the same time the new structure allowsinvestors greater flexibility by allowing them to invest directly in the various group companies.The unbundling also makes for greater liquidity in the shares of both Shoprite and Pepkor.

In addition, the restructuring better positions each of the operating components and providesthem with a much sharper focus. The structure was already working at an operational level andit made sense to use it as the basis for the new corporate structure.

These developments in no way affected Shoprite at an operational level, while Tradehold servesprimarily as an investment vehicle for local investors requiring a rand hedge.

The new Pepkor is, from the outset, a dominant player in the clothing cash discount market. It isalready a substantial business in its own right, with turnover in excess of R4bn and excellentprospects for growth. In the last financial year it reported an operating profit of R211m and isexpected to do well in the 2001financial year.

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