Altron Group Year End Results 2004 Robert Venter Chief Executive

Altron Group 53,4%54,6%100% AltechBTGPowertech Telecoms, Multi-media, Information Technology (TMT) Information TechnologyPower Electronics Employees: 1824 Market Cap: R3.5 bn Employees: 3647 Market Cap: R920 m Employees: 5171 JSE listed * * * * Revenue: R10 bn Market cap: R3.3 bn Employees: ± Based on share prices as of 7 May 2004

Products and services AltechBTGPowertech TELECOMMUNICATIONS Cellular telephony, vehicle tracking and recovery systems. Design, installation and commissioning of two- way radio equipment and systems. MULTIMEDIA & ELECTRONICS Distributors of professional electronic components and products. Design and manufacture of digital satellite decoders and software applications. INFORMATION TECHNOLOGY Integrated computer systems solutions and smart-card technology systems. INFORMATION TECHNOLOGY Microsoft licensing & systems integrator. Independent IT consulting services and solutions. Network solutions & maintenance. Software sales, development, implementation & application maintenance. ERP implementation. Exclusive distributor of NCR products (ATMs), services and implementation of EFT applications and scanners. Desktop services and support. Remote monitoring of IT facilities. Sole distributor of Xerox office products and supplier of document management services. Electronic switching & transactions processing for the medical industry. POWER ELECTRONICS Medium- and low-voltage power cables. Power and distribution transformers. Automotive, traction batteries and DC power systems. Electrical accessories. Lighting control gear. TELECOMMUNICATIONS Fibre-optic and metallic cables and accessories. Data cable systems. Standby power and rectifier systems. Solar systems.

Companies per segment Information Technology Power Electronics & Multimedia Telecoms

Key financials % change Revenue – cont. operationsR10bnR11bn-9 Operating income – cont. operationsR718mR807m-11 Operating margin (%)7.1%7.3% Adjusted HEPS (cents)* RONA17%22% Working capitalR0.8bnR1.2bn Cash on handR2bnR1.5bn * Excluding surplus from Benefit Fund in prior year

Group highlights Increased HEPS under strengthening rand environment Cash increased to over R2bn Dividend increased by 21% 12 month share price appreciation of 48% Key acquisitions concluded (Xerox SA, NamITech) Pre-empted ICT charter with substantial BEE deals announced Vision 2010 approved by board Divestitures continue to focus group Major orders secured including R500m SAPS 2-way digital radio system for Gauteng

Op income R 207m Op. margin 6.2% *HEPS 12% Op income R 333m Op. margin 8% *HEPS -6% Op income R 185m Op. margin 7.1% *HEPS 27% 53,4% 54,6% 100% ■ JSE listed ■ ■ AltechBTGPowertech Op income: R 718m *HEPS: 2% Op. margin: 7.1% Group results at a glance (for the twelve months ended 29 February 2004) * HEPS: Adjusted HEPS for the year excludes benefit fund surplus

Summary of key strategic philosophies Provide shareholders with above average growth and dividend returns Be market share leaders in our focused sectors Target 25-30% of revenue to come from non-rand currencies Navigate BEE landscape and ICT charters Provide decentralised management culture and encourage entrepreneurship Maintain family control and influence

Corporate activity Activity BTG acquires 50% of Xerox SA BTG sells 27% of BTG to Kagiso* Altech acquires 85% of NamITech Altech sells 28% of NamITech to Pamodzi Altech sells 30% of Alcom Matomo to Matoma Powertech sells 25.1% of Battech to Kagiso Powertech sells 30% of Aberdare Cables to Izingwe Altech sells 25.01% of Altech Data to Pamodzi Effective date 1 June June March December March May 2004 Valuation R235m R228m R526m ±R180m ±R7m R19m R165m ±R50m * Subject to shareholder approval

Share price performance Cents

Hard currency revenues R million Revenue from foreign operationsExports Note: 1998 to 2003 includes AAT exports

Altron Group Financial results 2004 Diane Radley Chief Financial Officer

Group income statement R million % change Revenue - total (-6) Continuing operations (-7) Discontinued operations28 Benefit Fund-74 Operating income Net investment income11996 Income from associates919 Income before amortisation and capital items Goodwill amortised and impaired(134)(105) Capital items34244 Net income before tax Taxation(252)(288) Net income after tax Outside shareholders interest(152)(414) Attributable income342464

Group income statement % change EPS (cents) HEPS (cents) Adjusted HEPS (cents) Dividend per share declared

Contribution by subholding company 2003 Revenue 2004 Altech BTG Corporate & Financial services Powertech

Contribution by subholding company 2003 Operating income 2004 Altech BTG Corporate & Financial services Powertech

Contribution by subholding company 2003 Headline earnings 2004 Altech BTG Corporate & Financial services Powertech

Group balance sheet R million Fixed and non-current assets Rental finance advances Cash and cash equivalents Receivables and inventories Total assets Ordinary shareholders’ interest Outside shareholders’ interest Long-term loans Short-term loans Other long term liabilities41120 Current liabilities Total equity and liabilities NAV per share901837

Group cash flow analysis R million Operating activities Cash generated by operations Net investment income10687 Changes in working capital387(7) Taxation paid(295)(202) Cash from operating activities Dividends paid(198)(224) Investing activities(310)(27) Financing activities68(582) Net funds generated Cash and cash equivalents Translation & effect on cash of proportionate consolidation(42)(35) Cash and cash equivalents – end of year

Powertech R million % change Revenue P/C Operating income P/C Headline earnings Headline earnings (excl Benefit Fund) P/C – Proportional consolidation

Powertech Segmental results Revenue Operating income 2004 * 2003* Telecoms Power Electronics * Proportionally consolidated

Powertech Segmental results by product (revenue) Electrical accessories Battery & solar Transformers Cables R 333m R 610m R 312m R 2054m R 264m R 634m R 274m R 2534m * ABB PTT and Tridonic proportionally consolidated * *

Segmental review

Contribution per segment Power Electronics / Multimedia IT Telecoms Corporate & Financial Services Revenue Operating income

Telecoms Risks and opportunities Risks Slowing of growth in SA mobile market International weakness in demand for infrastructural telecoms products Delays in SNO provides no incentive for Telkom to expand network Need for GSM-based vehicle tracking product Opportunities SNO – when it happens! Mobile opportunities in Africa – world’s largest unexploited territory NamITech provides entry into SIM and pre-paid voucher market SAPS Gauteng tender and Free State government opportunity Altron action Extended Autopage agreements with SA mobile operators Reduced exposure to infrastructure segment Right-sized fibre optic business Key successes in African markets for SIM cards and pre-paid vouchers GSM-based vehicle tracking product developed and launched

Multimedia & Power electronics Risks and opportunities Risks Strong rand environment Increased competition in low-end set top boxes Rising interest rates High base of power electronics Supply of copper Opportunities Infrastructure spend in SA region to remain strong Major projects in mining and industrial sectors announced Strong order book at UEC World Cup 2010 Regional electricity distribution supply (REDS) Altron action Currency hedging in place for both imports and exports Developed and received orders for high-end STB’s (PVR, etc.) Capital expenditure in power electronics focused on efficiencies – not additional capacity Developing alternate suppliers of copper

Information Technology Risks and opportunities Risks BEE landscape and ICT Charter Market conditions in UK IT sector Exchange rate impact on major imports Pressure on pricing Opportunities Improving market conditions for IT sector Addressable market enhanced through BEE credentials Europay/Mastercard/Visa (EMV) standard Security (PKI’s and digital certificates) is growth area Altron action Empowerment deals concluded at BTG SA and NamITech Complete offering relating to EMV Increased level of annuity income to fight price erosion and establish barriers to entry Streamline and consolidate UK businesses

Growth strategies going forward Altech growth to be driven by a combination of external acquisitions and internal investment in R&D and intellectual capital. Balance sheet provides good flexibility. BTG growth to be driven by consolidation of IT industry and internal investment in systems and intellectual capital. Current balance sheet restricts significant external opportunities. Powertech growth strategies to be driven around reinvestment in capital equipment focusing on efficiencies in the right areas. Complemented by synergistic small to medium size acquisitions.

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