1. IDC Results 2004/05 Geoffrey Qhena Chief Executive Officer 26 October 2005

2. Mission “To be the primary driving force of commercially sustainable industrial development and innovation to the benefit of South Africa and the rest of the African continent” Contribute to the generation of balanced, sustainable economic growth in South Africa and Africa Economically empower the South African population Promote entrepreneurship through the building of competitive industries and enterprises based on sound business principles

3. 2004/05 Highlights For the 9-month period up to 31 March 2005: —Anticipated creation of more than 16 700 jobs; —Further investments of R3,8 billion approved; —70% of the number and 83% of the value of financing approvals towards black economic empowerment, up from 53% and 35% respectively in 2004; —More than 100 approvals for finance to small and medium enterprises; —Numerous awards for the IDC-funded films; and —Top Development Financier at the 2005 BusinessMap Business Report Black Economic Empowerment awards. Transition from “Strategy for Growth” to “Leadership in Development”

4. IDC’s Investment Activity Net Value and Number of Approvals Mozal I Mozal II Approvals of more than R46 billion over the 10 year period, involving more than 3 300 deals; * 9 month period Shaded areas indicate annualised figures

5. Development - SMEs Number of Approvals to SMEs SMEs represented more than 88% of the number of approvals over the period from 1996 to 2005 * 9 month period Shaded areas indicate annualised figures Businesses are classified by IDC as SME’s if they meet any 2 of: - Less than 200 employees - Less than R36m turnover - Less than R39m in assets Distribution of number of approvals to SMEs by province July 1995 - March 2005

6. Development - SMEs 0%2%4%6%8%10%12%14%16%18%20% Electricity, gas & water supply Construction Hotels & restaurants etc Transport, storage & communication Healthcare, education, media, etc Electrical & electronic products Financial, insurance and business services Mining & quarrying Wood, paper & printing Furniture, jewellery and other manufacturing Wholesale & retail trade Clothing, textiles & leather products Machinery & metals products Food, beverages & tobacco Chemicals & other mineral products Agriculture, forestry & fishing % of Total % of Total Value % of Total Number Sectoral Distribution of Approvals to SMEs - July 1995 - March 2005 The agricultural sector and non-metallic minerals sectors received the largest portion of IDC funds in terms of number of approvals.

7. Investment Examples Supported franchisees in townships such as Soweto, Tembisa, Taung, Mabopane, Vryburg, Lusikisiki, Mtubatuba, etc; With support of European Union funds, invested in the development of cherry production in the Free State; Supported the production of Kenaf fibre in Winterton in KwaZulu-Natal, for use in the global automotive industry; Supported a call centre operation in the Eastern Cape; Financed a new hospital in Lebowakgomo in Limpopo; Supported a timber harvesting service provider in Mpumalanga; Invested in an abalone aquaculture business in Hawston in the Western Cape.

8. Development - Regional Relative to its GDP, approvals for finance over the past 10 years were the highest in the Eastern Cape. Total Value of Approvals (July ’95 to March ’05) per Million Rand GDP Average

9. Provincial engagement initiatives Initiated process of provincial engagement to support Provincial Growth and Development Strategies Started with Limpopo Province: –Investment Conference; and –Memorandum of Understanding with LimDev Following-up in current year: –Investment conferences in, and MOUs with, North West, Free State and Mpumalanga (planned) –Meetings with Premiers and Executive Councils of Eastern Cape and Northern Cape (planned)

10. Local Development Agencies Continued roll-out and support for Local Development Agencies Existing Agencies cover all provinces: - 7 in Eastern Cape- 1 in Northern Cape - 1 in Gauteng- 3 in KwaZulu-Natal - 2 in Western Cape- 1 in Free State - 1 in Mpumalanga- 1 in Limpopo - 1 in North West Typical potential projects : –Boschberg Tourism Development project in Karoo –Security and cleanliness plan for Mandela Bay (100 jobs) –Mandela Statue project and ICC in Port Elizabeth –East London Beachfront renewal plan –Urban Renewal Zone management status for Port Elizabeth and East London (management by agencies) –Hibuscus Coast waterfront development plan –Citrus projects in Nkonkobe (EC), Northern Cape, Mkhanyakude/Makhatini (KZN) –Kabeljous tourism node plan for Kouga –Community flower project at Somerset East

11. Development - BEE Approvals for Black Economic Empowerment 2004/05 saw a significant increase in the value of BEE deals, with 83% of the value and 70% of the number of approvals directed to empowered companies; Involvement in major empowerment transactions such as FirstRand, Aspen and Afrox contributed to this performance. * 9 month period Shaded areas indicate annualised figures Distribution of value of approvals to BEE by province July 1995 - March 2005

12. Development - Job Creation Number of Jobs Expected to be Created through IDC Financing Expected job creation improved significantly from the previous two years, indicating success in the renewed focus on development. * 9 month period Shaded areas indicate annualised figures Distribution of Job Creation by Province July 1995 - March 2005

13. Development - Job Creation Number of IDC related jobs created per 1 000 people employed in each province (July ’95 to March ’05) Average Job creation in the Northern Cape benefited significantly over the past 10 years, through the implementation of high value added agricultural projects.

14. Involvement in Africa Net Value of Approvals Approvals for investments in Africa vary depending on opportunities – with large transactions such as Mozal and infrastructure related investments leading to higher investments in 2001 and 2003 * 9 month period Shaded areas indicate annualised figures

15. “Leadership in Development” Job creation in priority areas through: Active identification and development of investment opportunities in targeted areas Sectoral development strategies Targeted pricing discounts Focused service delivery Supporting expansionary and broad-based BEE Providing support for entrepreneurs Providing support for community groups Expanding IDC’s reach/presence Leveraging outside resources Identification of opportunities arising from the Soccer World Cup 2010 Expanding the role of the IDC Training Academy outside IDC

16. IDC’s Goals for the Future By 2011: To play a leading role in ensuring that unemployment is halved through accelerating economic growth; To support equity through increasingly targeting provinces with lower economic activity; To continue supporting historically disadvantaged persons; To continue supporting the development of the African continent’s industrial capacity in support of Nepad; To increase IDC total investment significantly in support of the above.

17. Thank You

18. Gert Gouws Chief Financial Officer 2004/2005 Financial Results

19. Abridged Group Income Statement for the Nine Months Ended 31 March 2005 Share of equity accounted investments - Profits from ordinary operations Net income from operations 266 1 287 411 236 2005 Year Ended 30 June 2004 Revenue 2 806 3 961 Net operating income/(loss) 61 (803) Taxation Net income after tax Minority interest Net attributable income 117 1 170 (2) 1 172 (470) 706 9697 R’ millions Net capital gains on investments 1 260 628 Impairment of Property, Plant and Equipment (300) - Income before equity accounted investments 1 021 (175)

20. Analysis of Income Statement Items for the Nine Months Ended 31 March 2005 2005 Year Ended 30 June 2004 1 260 1 372 174 2 806 1 564 2 053 344 3 961 Revenue Financing Activities Foskor Other subsidiaries R’ millions % 7 (11) (33) (6)

21. (256) 218 - Net movement in Impairments - After Impairment Provisions 2005 474 Net Operating Income Financing Activities - Before Impairment Provisions Foskor Other Subsidiaries Analysis of Income Statement Items for the Nine Months Ended 31 March 2005 R’ millions (132) (25) 61 Year ended 30 June 2004 % 408 (803) (395) (410) 2 (803) 52 57 NMF 57 NMF

22. Analysis of Net Attributable Income/(Loss) (R’mil) 1 172 822 666 (258) 1 831 787 697

23. Abridged Group Balance Sheet as at 31 March 2005 2005 2 081 30 592 2 775 1 145 36 593 1 666 25 059 3 174 1 041 30 940 Assets Cash and cash equivalents Loans, advances and investments Property, plant & equipment & Inventories Other assets Debt/Equity Ratio16%21% Equity and Liabilities Capital and reserves Long-term loans Deferred taxation Other liabilities 29 806 4 803 643 1 341 36 593 24 541 5 038 - 1 361 30 940 30 June 2004 R’ millions

24. Thank You