Sekunjalo Investments Limited - Press Statement

Sekunjalo Investments Limited - Press Statement                                 
Sekunjalo Investments Limited                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number 1996/006093/06)                                            
Share code: SKJ & ISIN: ZAE000017893                                            
("Sekunjalo" or "the company")                                                  
Press Statement                                                                 
Date: 09 February 2006                                                          
Sekunjalo acquires FIOS - expects significant growth in its IT subsidiary       
Sekunjalo Investments Limited, the JSE-listed BEE investment company, today     
announced it will acquire FIOS (Pty) Ltd, an IT systems company, for a maximum  
of R 17,3 million.  The acquisition will occur in three tranches, with 51%      
acquired effective from 01 September 2005, a further 25% in September 2006 and  
the final 24% in September 2007.                                                
Deputy chief executive of Sekunjalo, Norman Noland, who recently took over      
executive responsibility for Sekunjalo"s investments, said the acquisition would
be funded by cash or the issue of Sekunjalo shares against warranted revenue and
profit performance.                                                             
"FIOS meets our exacting criteria for acquisitions, namely it has strong cash   
flow generation, excellent corporate governance and strong management ability   
and focus," Noland said.                                                        
He said FIOS will become part of Sekunjalo Informatics and Telecommunications   
Africa (Pty) Ltd (SITCA) where it will complement and leverage off SITCA"s      
Synergy Computing, a specialist business intelligence company.                  
Noland said the acquisition strengthens SITCA"s strategy to expand its interests
in the growing corporate performance management solutions (CPM) market.         
FIOS is the only value added reseller of Cognos Enterprise Planning (CEP) and   
Cognos Controller in Southern Africa.  Cognos is listed on NASDAQ and its       
systems are used globally by governments and companies to create efficiencies,  
with notable success in Canada, California and Europe.                          
The CEP software together with FIOS"s skilled and experienced staff provide the 
essential financial planning element to corporate performance management        
solutions, thereby complementing the understand and monitoring elements already 
provided by SITCA. It is anticipated that FIOS will add significant value to    
SITCA"s large established base of customers.                                    
Noland said SITCA was now in a position to offer an unrivalled service to       
national, provincial and local government administrations in addition to its 350
blue-chip private sector clients.  He said FIOS had already benefited from the  
empowerment credentials of Sekunjalo by recently being awarded a large contract 
by a major South African bank.                                                  
Founded in 2002, FIOS"s focus and knowledge of the market has resulted in a     
sustained growth in excess of 100% per annum making them a profitable, cash     
positive company.                                                               
SITCA is a wholly owned subsidiary of Sekunjalo Investments Limited, which      
focuses on the provision of complete ICT solutions to business and governments  
in South Africa and the rest of the continent.                                  
Ends                                                                            
Prepared by:        Bruce Hetherington                                          
                    Beachhead Media & Investor Relations                        
                    (021) 487 9000                                              
                    082 458 2199                                                
On behalf of:       Sekunjalo Investments                                       
Contact:            Norman Noland                                               
                    Deputy CEO                                                  
                    Sekunjalo Investments                                       
(021) 702 7700                                              

                    Johan van Jaarsveld                                         
                    Managing Director                                           
                    FIOS                                                        
083 554 3358                                                

Date: 09/02/2006 04:12:03 PM Supplied by www.sharenet.co.za                     
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