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MUR - Murray & Roberts Holdings Limited - Fast track competition submission MURRAY & ROBERTS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number: 1948/029826/06 JSE Share Code: MUR ISIN: ZAE000073441 ("Murray & Roberts" or "Group") FAST TRACK COMPETITION SUBMISSION Murray & Roberts confirms that it filed a Fast Track application to the Competition Commission ("Commission") by the deadline date of 15 April 2011. This is a process established by the Commission that requires firms operating in the construction sector to list projects in specified market sectors where the firm believes, or has evidence, it may have transgressed any of the provisions of the Competition Act, No 89 of 1998 ("Act") and where such transgressions are not covered by leniency under the Corporate Leniency Provision ("CLP") of the Act. The Group has conducted further and extensive internal legal and forensic investigations in terms of the specific provisions of the Fast Track process. This has included the interrogation of both current and former executives of the Group, including those who had signed declarations of compliance to the provisions of the Act. A large number of project tenders have been subjected to audit, going back a number of years. The Group regrets to advise that a relatively small number of projects have been identified, primarily in a designated sector in which Concor Limited ("Concor") is active, where the Act may have been transgressed through the unauthorised actions of senior executives and for which no CLP applications have previously been lodged. The Group has now lodged CLP applications for these projects, but may well be exposed to the application of a penalty in terms of the rules of the Fast Track process. The unlawful actions by these individuals extend from an indeterminate period prior to the acquisition of Concor by Murray & Roberts in the 2007 financial year and seem to have ceased at some time subsequent to Concor being incorporated into the Group. It is possible, however, that the Fast Track process may identify further projects where Concor and/or Murray & Roberts have transgressed the provisions of the Act. Murray & Roberts, under the direction of its board and chief executive, has led the exposure of collusive practices in the construction industry over a number of years, is committed to eradicating any collusive behaviour from the Group and will continue its work with the Commission to achieve a competitive construction industry in its broadest definition. 18 April 2011 Bedfordview Sponsor Deutsche Securities (SA) (Pty) Limited Date: 18/04/2011 16:05:01 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.
