GRF - Group Five - Group Five Announces The Departure Of The Deputy CEO And

GRF - Group Five - Group Five Announces The Departure Of The Deputy CEO And     
                   Strengthening Of The Group Exco                              
Group Five Limited                                                              
(Registration number: 1969/000032/06)                                           
(Incorporated in the Republic of South Africa)                                  
(Share Code: GRF & ISIN Code: ZAE000027405)                                     
("Group Five")                                                                  
GROUP FIVE ANNOUNCES THE DEPARTURE OF THE DEPUTY CEO AND STRENGTHENING OF THE   
GROUP EXCO                                                                      
The board of Group Five informs shareholders that Deputy CEO and CFO, Paul      
O`Flaherty, will be leaving Group Five at the end of June 2007 after five       
successful years with the group. After careful evaluation of his current roles  
and responsibilities, O`Flaherty has indicated to the board that he would prefer
a different career path, where he could optimise his personal growth.           
The board acknowledges O`Flaherty`s significant contribution to the group`s     
development, in particular to Group Five`s solid financial and administrative   
base, as well as BEE initiatives and acquisition and disposal strategies.       
The group also announces the strengthening of the Group Five Exco team, making  
it more representative of the business clusters and ensuring a smooth transition
following O`Flaherty`s departure. O`Flaherty`s financial team of the last five  
years remains in place and a replacement CFO is currently being sought.         
O`Flaherty will work with Exco and the CEO through to the end of June to ensure 
an orderly transition of the financial function and to oversee the group`s year-
end audit.                                                                      
Current Exco member and MD of Infrastructure Development Services, Eric Vemer,  
will take over responsibility for strategic acquisitions and disposals and will 
assume the expanded role of business development for the group. Before joining  
Group Five in 2005, Vemer was on the Exco of HSBC Bank plc and head of          
Specialised Finance and Advisory for sub-Saharan Africa. Andrew McJannet, MD of 
Civil Engineering, will join the Exco team, reflecting the increasing importance
of Civil Engineering in the construction landscape.                             
Outside of McJannet as a new appointment, the current Exco team has been        
responsible for the continual improvements in performance at Group Five over the
last five years.                                                                
23 April 2007                                                                   
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 23/04/2007 09:40:37 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.