ONELOGIX CONSOLIDATES WITH PROMISING RESULTS

ONELOGIX CONSOLIDATES WITH PROMISING RESULTS                                    
Niche logistics group OneLogix, effectively refined its strategy and            
consolidated for growth to boost revenue from continuing operations by 41% to   
R88,7 million.                                                                  
Earnings before interest, taxation, depreciation and amortisation (EBITDA) from 
continuing operations grew 23% to R12,2 million, while operating profit from    
continuing operations was up 15% to R10,3 million.                              
CEO Tony Wiese says: "Tougher trading conditions and waning support for new     
economy businesses prompted the group to intensify focus on its high-margin,    
cash-generating niche logistics businesses with predictable earnings streams."  
Sub-Saharan auto-logistics leader Vehicle Delivery Services, leading express    
distributor of print press GoLogix Media Couriers and PostNet, the nationwide   
courier and business communications network, again exceeded expectations.       
Start-up GoLogix Couriers retains the group`s foothold in e-logistics with      
customers including flySAA.com, Digital Mall, Megashopper and McCarthy Online.  
As it failed to meet expectations for the year, the business was rationalised   
and efficiencies and management improved to ensure better results going forward.
During the year OneLogix also returned R54 million to shareholders following its
pro-rata share repurchase of 67 500 000 shares.                                 
"We streamlined the group to enable us to deliver sustainable shareholder       
returns in the future," says Wiese, adding that the group`s solid consolidation 
is significant in view of its infancy on the JSE.                               
Low margin and e-start-ups - procurement solutions provider ThinkLogix Strategic
Sourcing, mail management joint venture FPLogix and SMME Internet portal BizzNet
- were closed during the year.  The group also disposed of X Press Net (Pty) Ltd
encompassing GoLogix Distribution, to a consortium including the management of  
the business.                                                                   
Wiese believes that the restructuring has positioned the group to perform in a  
challenging business environment.  "While we anticipate a steep uphill climb in 
the year ahead, our honed strategic focus and profitable core businesses will   
ensure organic growth."                                                         
Ends.                                                                           
Issued by:     Envisage                                                         
               Nicole Sacks                                                     
               (011) 447 9601/083 287 2771                                      
On behalf of:  OneLogix Group                                                   
               Tony Wiese, CEO                                                  
               (011) 396 9040/ 083 410 3918                                     
Issue date:    28 August 2002                                                   
Date: 28/08/2002 04:50:40 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department