Cashbuild Limited - Press Release : Cashbuild planning to bolster management

Cashbuild Limited - Press Release : Cashbuild planning to bolster management    
team                                                                            
Cashbuild Limited                                                               
Registration number: 1986/001503/06                                             
(Incorporated in the Republic of South Africa)                                  
Share Code: CSB    ISIN Code: ZAE000028320                                      
("Cashbuild" or "the company")                                                  
PRESS RELEASE                                                                   
CASHBUILD PLANNING TO BOLSTER MANAGEMENT TEAM                                   
In line with Cashbuild"s growth objectives, it has embarked on a plan to        
strengthen its management team.  Mr Craig Daly, currently the financial         
director, will take on a new role as "Executive director : Strategic Projects"  
to ensure Cashbuild focuses on strategies that will allow Cashbuild to maintain 
its competitive edge.  Says Pat Goldrick, the Chief Executive of Cashbuild,     
"With Craig"s high level understanding of the group, its strategic focus and    
priorities, this appointment is a logical next step.  Craig"s new focus will    
enable him to guide both Cashbuild"s operations and long term strategies by     
driving critical initiatives such as information technology systems             
implementations, logistics management and ISO9002 implementation."              
Together with Cashbuild"s core management team of 42 key individuals, this      
appointment will provide Cashbuild with the depth of management needed to       
successfully grow its business, both by way of organic growth in existing stores
and by opening new stores.  Cashbuild has already opened 8 new stores year to   
date and envisages opening a further 6 stores during the current financial year 
ending June 2004.                                                               
Cashbuild is in the process of screening suitable candidates for the position of
financial director.  In addition, Cashbuild is looking to bolster its board of  
directors by appointing a new non-executive director and to recruit an HR       
Manager to drive its staff development strategies.                              
Johannesburg                                                                    
16 March 2004                                                                   
Sponsor                                                                         
Nedbank Corporate                                                               
Date: 16/03/2004 11:12:07 AM Supplied by www.sharenet.co.za                     
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