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AFE - AECI Limited - Heartland Properties: Appointment Of CEO

Release Date: 09/07/2008 10:00:02      Code(s): AFE
AFE - AECI Limited - Heartland Properties: Appointment Of CEO                   
AECI LIMITED                                                                    
(Incorporated in the Republic of South Africa)                                  
Registration No. 1924/002590/06                                                 
Share code: AFE & ISIN No. ZAE000000220                                         
("AECI" or "the Company")                                                       
HEARTLAND PROPERTIES: APPOINTMENT OF CEO                                        
AECI is pleased to announce that Anthony Diepenbroek (51) has been appointed    
Chief Executive Officer of Heartland Properties, which is tasked with realising 
value from land that has become surplus to the Company`s needs. The land is     
located in Modderfontein, adjacent the N3, and at Somerset West, adjacent the   
N2, and is some 2 320 hectares in extent. Heartland Properties` objective is to 
make most of this land available for redevelopment into commercial, industrial  
and residential use over the next 10 to 15 years.                               
Mr Diepenbroek has more than 20 years` experience in a broad range of property- 
and development-related fields. These include construction and project          
management; sales and marketing; infrastructure and facilities planning; and the
management of property portfolios, assets and property investment funds at      
executive level.  In addition, he has served as managing director of other JSE  
Limited-listed entities in the property sector.                                 
Mr Diepenbroek`s qualifications include BSc (Civil Engineering) and Master of   
Business Administration degrees.  He is registered as a Professional Engineer   
with the Engineering Council of South Africa and is a past president of the     
South African Property Owners Association.                                      
AECI is confident that, with his visionary guidance and strategic approach to   
land redevelopment, Heartland Properties will continue to deliver value that    
meets shareholders` expectations in the years ahead.                            
Mr Diepenbroek`s appointment will take effect on 21 July 2008.  He will also    
join AECI`s Executive Committee at that time.                                   
Woodmead, Sandton                                                               
9 July 2008                                                                     
Sponsor:  Rand Merchant Bank (A division of FirstRand Bank Limited)             
Date: 09/07/2008 10:00:02 Supplied by www.sharenet.co.za                     
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