GRF - Group Five Limited - Appointment of Chief Financial Officer

GRF - Group Five Limited - Appointment of Chief Financial Officer               
Group Five Limited                                                              
(Registration number: 1969/000032/06)                                           
(Incorporated in the Republic of South Africa)                                  
Share Code: GRF & ISIN Code: ZAE000027405                                       
("Group Five" or "the group")                                                   
Appointment of Chief Financial Officer                                          
The Board of Group Five is pleased to announce the appointment of Cristina      
Teixeira as Chief Financial Officer, effective 1 June 2008.                     
Teixeira has been Group Finance Director since 2007 and has effectively acted as
custodian of the CFO function over the last year. Prior to this, Teixeira was   
Group Financial Manager for four years.                                         
To ensure a due and thorough process, the board implemented an internal and     
external search process for a new CFO in May last year. After a vigorous        
selection process of both internal and external candidates, the board           
unanimously supported the appointment of Teixeira as CFO. She has also been     
appointed to the group executive committee and will report to CEO Mike Upton.   
Teixeira has demonstrated the ability to manage the group`s complex and         
demanding financial environment, both locally and in the group`s international  
operations in Africa, the Middle East and Eastern Europe. Teixeira has a        
thorough understanding of the group`s external environment with respect to      
investors, analysts, financiers, insurers and other stakeholders. The group has 
enjoyed a number of awards for reporting and disclosure over the past few years 
under Teixeira`s guidance.                                                      
Cristina completed her articles at Pricewaterhouse Coopers in 2002 before       
joining Group Five in 2003 as Group Project Accountant.                         
Eric Vemer, a member of the group executive committee, will retain his          
responsibilities for group Corporate Finance relating to Mergers, Acquisitions  
and Investments and Concessions. Vemer and Teixeira will continue to work       
closely together.                                                               
Sandton                                                                         
21 May 2008                                                                     
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 21/05/2008 15:11:01 Supplied by www.sharenet.co.za                     
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