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Sol - Sasol Limited - Project Update: Oryx Gas-to-liquids (gtl) Joint Venture

Release Date: 22/05/2007 08:30:01      Code(s): SOL
SOL - Sasol Limited - Project update: Oryx gas-to-liquids (GTL) Joint Venture   
Sasol Limited                                                                   
(Incorporated in South Africa)                                                  
(Registration number: 1979/003231/06)                                           
ISIN Code: ZAE000006896                                                         
JSE Code: SOL                                                                   
NYSE Code: SSL                                                                  
("Sasol")                                                                       
Project update: Oryx gas-to-liquids (GTL) Joint Venture                         
The Oryx gas-to-liquids (GTL) venture in Qatar, in which Sasol has a 49%        
shareholding, has now been operational for more than three months. During this  
initial start-up period all systems, process units, including the three main    
technologies, have been successfully tested and have demonstrated design        
intent. This bodes well for our strategic ambition to grow our business         
through GTL projects worldwide.  Products that meet specification are being     
produced and the first consignment was shipped to market during April.          
As to be expected with a facility of this size and complexity, the plant has    
experienced start-up operational challenges, most of these limited to           
individual pieces of equipment. The failure of the steam super heater in the    
utility section, reported on during the second half of 2006, has been the most  
significant to date. This problem has since been successfully resolved.         
Operating rates are currently also limited to levels lower than planned. The    
biggest challenge preventing ramp-up to the planned production rate is a        
higher than the design level of fine material that is produced in the process   
and which then has to be handled downstream of the Fischer-Tropsch (FT) units.  
This fine material is constraining the overall throughput of the downstream     
units. A number of possible causes for this have been identified and plans are  
in place to eliminate or remediate these over the coming months. The            
installation of additional downstream equipment as a back-up solution to        
increase throughput has already been initiated and this will be available for   
implementation towards the middle of 2008.                                      
Over the last fifty years Sasol has successfully developed, implemented and     
operated several generations of large-scale synthetic fuel plants. Based on     
this experience we are fully confident that the abovementioned challenges will  
be overcome but in the interim they will unfortunately prolong the ramp-up      
period. Until the production of fine material is reduced, the Oryx joint        
venture will only generate a marginal cash contribution.                        
An update on Oryx`s performance will be provided at an appropriate time, but    
no later than Sasol`s year end results presentation in September 2007.          
"We are very pleased that the Oryx start-up has, despite these challenges,      
demonstrated the potential of the world`s largest gas-to-liquids facility and   
that the process produces world-class products. The remaining technical         
challenges will be resolved as speedily as possible so that full production     
can be achieved," said Lean Strauss, Group General Manager of Sasol             
International Energy business.                                                  
Forward-looking statements: In this announcement we make certain statements     
that are not historical facts and relate to analyses and other information      
based on forecasts of future results not yet determinable, relating, amongst    
other things, to exchange rate fluctuations, volume growth, increases in        
market share, total shareholder return and cost reductions. These are forward-  
looking statements as defined in the United States Private Securities           
Litigation Reform Act of 1995. Words such as "believe", "anticipate",           
"intend", "seek", "will", "plan", "could", "may", "endeavour" and "project"     
and similar expressions are intended to identify such forward-looking           
statements, but are not the exclusive means of identifying such statements.     
Forward-looking statements involve inherent risks and uncertainties and, if     
one or more of these risks materialise, or should underlying assumptions prove  
incorrect, actual results may be very different from those anticipated. The     
factors that could cause our actual results to differ materially from such      
forward-looking statements are discussed more fully in our most recent annual   
report under the Securities Exchange Act of 1934 on Form 20-F filed on 2        
November 2006 and in other filings with the United States Securities and        
Exchange Commission. Forward-looking statements apply only as of the date on    
which they are made, and Sasol does not undertake any obligation to update or   
revise any of them, whether as a result of new information, future events or    
otherwise.                                                                      
22 May 2007                                                                     
Johannesburg                                                                    
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited               
Date: 22/05/2007 08:30:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  



                                        
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