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Aeci - Changes To The Board Of Directors

Release Date: 01/12/2006 07:00:01      Code(s): AFE
AECI - Changes to the board of directors                                        
AECI LIMITED                                                                    
("AECI" or "the Company")                                                       
(Incorporated in the Republic of South Africa)                                  
Registration No. 1924/002590/06                                                 
Share code:  AFE & ISIN code:  ZAE000000220                                     
AECI LIMITED:  CHANGES TO THE BOARD OF DIRECTORS                                
Alan Pedder CBE has advised the Board that he intends to retire as a non-       
executive director, and chairman of the Board, at the next annual general       
meeting of shareholders to be held on 21 May 2007.  Alan joined the AECI        
Board in 1994 and has served as its chairman since 2000.                        
Colin Brayshaw, non-executive director of the Company and chairman of its       
audit committee, has advised the Board that he will also retire at the same     
meeting. Colin has served on the Board since 1996.                              
The directors of AECI thank both these colleagues for their most                
significant contributions to the affairs of the Board and the Company over      
many years.                                                                     
In view of these retirements, AECI is pleased to announce that its              
directors have agreed to nominate Fani Titi to succeed Alan Pedder as           
chairman of the Board from 21 May 2007.  Fani joined the Board in 2005 and      
is a member of the audit committee and chairman of the corporate                
citizenship committee.  He is chairman of the Tiso Group and currently          
serves on the boards of several JSE-listed and unlisted companies.              
The directors have also agreed that Mike Leeming, an executive director of      
Nedcor at the time of his retirement and a member of the Board since 2002,      
will succeed Colin Brayshaw as chairman of the audit committee, of which he     
is already a member.  He also serves on the Company"s corporate citizenship     
committee and on the boards of a number of other JSE-listed and unlisted        
companies.                                                                      
AECI is also pleased to announce that Richard Dunne will join the Board in      
a non-executive capacity, and will be a member of the audit committee, with     
effect from 1 January 2007.   Richard was the chief operating officer at        
Deloitte & Touche at the time of his retirement.  He currently serves on        
the boards of Tiger Brands Limited and Anglo Platinum Limited in a non-         
executive capacity.                                                             
Furthermore, AECI is pleased to announce that Frank Baker and Graham            
Edwards, the managing directors of Chemical Services Limited and African        
Explosives Limited respectively, will join the Board in an executive            
capacity with effect from 1 January 2007 whilst retaining their current         
responsibilities.                                                               
30 November 2006                                                                
Sponsor:  J.P.Morgan Equities Limited                                           
Date: 01/12/2006 07:00:03 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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