GRF - Group Five Limited - Group Five clarifies the status of the building of a

GRF - Group Five Limited - Group Five clarifies the status of the building of a 
R5 billion concentrated solar (CSP) plant                                       
GROUP FIVE LIMITED                                                              
(Incorporated in the Republic of South Africa)                                  
(Registration number 1969/000032/06)                                            
Share code: GRF     ISIN: ZAE000027405                                          
("Group Five")                                                                  
Group Five clarifies the status of the building of a R5 billion concentrated    
solar (CSP) plant                                                               
Group Five wishes to clarify the status around the media reports published over 
the last few days that it is to construct a R5 billion concentrated solar (CSP) 
plant in the Northern Cape.                                                     
Group Five made no formal announcement of its own on this subject, but can      
confirm the following:                                                          
Group Five has purposefully developed a power plant construction competence over
the last six years and has a number of successfully completed projects already  
in service in both South Africa and the broader African continent.              
Through its Investments and Concessions and Engineering and Construction        
businesses, the group is also actively involved in the development of a number  
of renewable and gas fired power plants, and is participating in the Eskom "new 
build" programme.                                                               
The National Energy Regulator (NERSA), Eskom and the South African government   
are supportive of the introduction of renewable and low carbon power plants     
into the national generation mix. This is illustrated by the introduction of the
Renewable Energy Feed in Tariff (REFIT) programme and the baseload independent  
power producer (IPP) programme.                                                 
Because of its high levels of solar radiation, the Northern Cape is potentially 
a popular destination for solar power investments and the project referred to   
in the media is a potential project that is being developed that would supply   
energy into the national grid through the government`s renewable energy         
procurement process, which calls for prospective bankable projects to be        
submitted for consideration during 2011.                                        
The project and the REFIT process is at an early stage and detailed comments    
around the project are therefore premature at this stage.                       
The group confirms its commitment to the national power programme and in        
particular, to the development of renewable power in South Africa.              
Johannesburg                                                                    
31 March 2011                                                                   
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 31/03/2011 12:14:03 Supplied by www.sharenet.co.za                     
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