HUG - Huge Group Limited - Board restructure

HUG - Huge Group Limited - Board restructure                                    
HUGE GROUP LIMITED                                                              
(formerly Vanquish Fund Managers Limited)                                       
(Registration number 2006/023587/06)                                            
Share code: HUG     ISIN: ZAE000102042                                          
("Huge" or "the company")                                                       
BOARD RESTRUCTURE                                                               
In compliance with paragraph 3.59 of the Listings Requirements of the JSE       
Limited, the board of directors of Huge are pleased to announce the following   
restructure.                                                                    
With effect from 26 March 2008, Mr Stephen Peter Tredoux, Mr Manogaran Pillay   
and Mr Julian Arie Morelis have been appointed to the board of directors.  Mr   
Mogamad Rhamees Nordien has resigned from the board of Huge but remains an      
executive director of Huge Telecom (Proprietary) Limited, a wholly owned        
subsidiary of Huge.                                                             
After the above changes the board will comprise the following:                  
Mr Emmanuel Fentse Lediga - Non-executive Chairman                              
Mr Anton Daniel Potgieter - Chief Executive Officer                             
Mr James Charles Herbst -   Group Financial Director                            
Mr Brian Alexander McQueen - Non-executive Director                             
Mr Vincent Mokhele Mokholo - Executive Director                                 
Mr Julian Arie Morelis - Executive Director                                     
Mr Manogaran Pillay - Executive Director                                        
Mr Stephen Peter Tredoux - Executive Director                                   
Mr Manogaran (Rajen) Pillay started his telecoms career in 1988 as a technician 
with Teleboss, a PABX company, after studying for a diploma in analytical       
chemistry.  He spent 12 years at Teleboss which became a wholly owned subsidiary
of Siltek.  The last position that he held at Teleboss was that of technical    
manager.  In 2000 Rajen was head-hunted by Orion Telecom to join them as the    
Development Manager in the research and development department.  He spent four  
years in R&D and was instrumental in developing LCR products for the company.   
This saw Orion become a market leader in LCR technology.  Rajen designed and    
implemented the first locally developed digital LCR solution in South Africa.   
In 2005 Rajen moved into Orion`s operations division as the National Service    
Manager and then later as National Operations Manager.  With the sale of Orion  
to Vox Telecom in 2007, Rajen was promoted to Operations Director where he had  
responsibility for a staff compliment of approximately 100 people and a company 
with an annual turnover approaching R1bn.  Rajen was instrumental in merging two
other group companies into Orion in 2007.  He joined Huge with effect from 1    
March 2008 and has been appointed as an executive director with effect from 26  
March 2008.                                                                     
Mr Stephen (Steve) Tredoux started his working career as an accountant but      
within a year or two moved to general management where he acquired managerial   
skills in the property management industry.  He moved from property management  
to manufacturing and then to information technology.  He was employed by        
National Data Systems as an account director looking after all commercial and   
support issues for Nedbank.  It was with this background that he was approached 
to join MTN in 1995.  The eleven and a half years that followed his appointment 
proved to be exciting and diverse and the experience gained was invaluable.     
Steve was initially employed as general sales manager responsible for the       
distribution channels of MTN.  It was during this time period that the          
distribution channel of MTN comprised fourteen so called "Service Providers".   
Steve discovered that despite the potential of the fledgling industry and its   
rate of growth, very little had been established by way of structure.  There was
also very little clarity with regard a distribution strategy and as such he set 
about formalising distribution agreements with the Service Providers.   It was  
also apparent that the distribution and marketing models in the more established
European markets were changing and Steve started investigating new routes to    
market as well as new product sets and ways of communicating with customers.    
As part of the executive management team Steve also involved himself with the   
overall strategy and management of the business until MTN purchased M-Tel (MTN  
SP).  On the acquisition by MTN of M-Tel, Steve was appointed in an executive   
sales and advertising role.  His passion for consumer sales led him to          
specialise in this area of the business, which became instrumental in producing 
an overwhelming majority of the revenue and profit of the SA entity.            
Steve is considerably experienced in sales distribution but is also a master at 
consumer marketing and product development.  Coupled with his earlier financial 
and general management skills makes him a uniquely qualified executive who      
brings a breadth of knowledge and skill that is rarely found in one individual  
today.                                                                          
He joined Huge Telecom on 21 February 2008, and was appointed as an executive   
director with effect from 26 March 2008.                                        
Mr Julian Morelis left school and joined the South African Air Force as an air  
traffic controller at the age of 18.  When he completed his military service at 
the SAAF he decided to pursue a career in finance whilst studying part time for 
his Bachelor of Commerce degree.  After nine years of finance related           
responsibilities he decided to chance his arm in IT and telecommunications.     
Within three years he built a successful ICT company that boasted turnover of   
R30mn per annum and a staff compliment of fifteen people.  After a major motor  
cycle accident which left him in a coma for two months and later required eight 
months of rehabilitation, he founded a Managed Voice Services company:          
CentraCell.  From its inception in September 2003 CentraCell specialised in the 
supply of least-cost-routing and telephone management services to corporate     
clients via a nationwide channel partner and reseller program.  Within three and
a half years the company grew to 35 staff members and an annual turnover of just
under R200mn.  In August 2007 CentraCell was acquired by the Huge Group and was 
successfully merged with Telepassport (Proprietary) Limited to form what is     
today known as Huge Telecom.  Julian`s role at Huge Telecom is that of Sales    
Director and his appointment at Huge Group as an Executive Director represents  
the commitment of the Huge Group to building a company of people with the       
necessary skills to deliver outstanding performance and the highest standards of
service.                                                                        
Julian joined Huge Telecom on 1 March 2008, and was appointed an executive      
director with effect from 26 March 2008.                                        
Woodmead                                                                        
28 March 2008                                                                   
Designated advisor                                                              
Arcay Moela Sponsors (Pty) Limited                                              
Date: 28/03/2008 17:39:50 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.