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Sekunjalo - Sekunjalo pumps up ICT division - takes 50% stake in Saratoga Sekunjalo Investments Limited (Incorporated in the Republic of South Africa) (Registration number 1996/006093/06) Share code: SKJ & ISIN: ZAE000017893 ("Sekunjalo" or "the group") Press Statement 21 November 2006 Sekunjalo pumps up ICT division - takes 50% stake in Saratoga JSE-listed Sekunjalo Investments Limited, South Africa"s top empowered company in 2006, today announced a further acquisition in its ICT division as it prepares to list the division on the JSE in the second half of 2007. Sekunjalo has acquired (50.1%) of Saratoga, a software and services company. Sekunjalo will pay fifty percent of the acquisition price for Saratoga in cash on completion of the transaction and fifty percent against warranted profits being achieved over the next three years. Sekunjalo deputy chief executive officer Norman Noland said Saratoga would be placed alongside FIOS and Synergy Computing in the group"s ICT stable, thus lending weight to Sekunjalo"s ability to sell comprehensive ICT business solutions as opposed to products. "Collectively the operating businesses in our ICT division have a client base that covers the majority of South Africa"s large corporates. We see significant upside in our ability to cross sell products and solutions into the combined client base," he said. Noland said this augured well for Sekunjalo"s stated strategy of unlocking value at group level by separately listing the ICT division in the latter part of 2007 or early 2008. The group"s ICT interests are currently held in Sekunjalo Informatics and Telecommunications Africa (SITCA), a wholly owned Sekunjalo subsidiary. "A SITCA IPO is still firmly on track, boosted by ongoing solid performances at our existing ICT companies, and strategic acquisitions such as these announced today," he said. Saratoga is active in the development of human resources, mobility and call center technology. The company, which is part of the Saratoga Group, has a number of South Africa"s top companies on its client list. The group employs 80 staff in South Africa, the UK and the USA to support the development, sales and implementation of new and existing applications. Saratoga MD Anthony Robinson said his firm would benefit from Sekunjalo"s peerless BEE credentials. "Saratoga is a black owned entrepreneurial venture, with a vision of becoming a global software and services business. As part of the Sekunjalo Group, the shareholders, founders and key staff all share this entrepreneurial passion," Robinson said. Saratoga Software has received the prestigious Gold Partner Mobility Competency from Microsoft, as a leading developer of mobile solutions for both the local and overseas markets. In addition, Saratoga has been identified as a leader in mobile technology and has been awarded DTI funding to develop mobile solutions for the local municipal market known as the Shine Initiative. "This much anticipated project, which has just reached completion, ties in well with Sekunjalo"s strong commitment to transformation and public-private partnerships. The technology will help to improve service delivery and reduce crippling service backlogs and local government.will be provided with an open or free license," Noland said. Saratoga Software has developed mobile solutions for meter reading, work order management , sales management ,customer management ,surveys and field worker management that are currently in use in the United States, Middle East and Africa. Saratoga"s HROnline is a web-enabled human resources system which allows clients to deliver services to all their employees and human resource staff throughout their organization through the internet. The latest Microsoft technologies have been incorporated in to the development of this system which has already been implemented in other leading companies such as National Brands and Alexander Forbes. Saratoga"s Fuzion call center software provides a complete direct solution for the sale and administration of various insurance and financial products in a virtual and paperless environment. Fuzion is well established in the fast growing Cape Town call centre market and recently penetrated the Gauteng market en route to becoming a leading call centre management solutions nationally. Ends Prepared by: Bruce Hetherington Beachhead Media & Investor Relations 082 458 2199
On behalf of: Sekunjalo Investments Limited Contact: Norman Noland Deputy CEO Sekunjalo Investments Limited
(021) 702 7700 Zenariah Barends Executive director Sekunjalo Corporate Services
(021) 702 7700 Date: 21/11/2006 10:50:36 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department
