IQG - IQuad Group Limited - Retirement of chairman and appointment of new

IQG - IQuad Group Limited - Retirement of chairman and appointment of new       
chairman                                                                        
IQuad Group Limited                                                             
Incorporated in the Republic of South Africa                                    
(Registration Number 2004/025177/06)                                            
Share Code: IQG                                                                 
ISIN: ZAE000101622                                                              
("IQuad" or "the Company")                                                      
RETIREMENT OF CHAIRMAN AND APPOINTMENT OF NEW CHAIRMAN                          
In accordance with rule 3.59(b) of the Listings Requirements of the JSE         
Limited, shareholders are hereby advised that Mr. Trevor Hayter ("Mr            
Hayter"), the current non-executive chairman of IQuad, is due for retirement    
by rotation at the Company`s upcoming annual general meeting. Mr Hayter has     
decided not to make himself available for re-election at the annual general     
meeting and in the light thereof will step down as chairman with effect from    
Monday, 6 June 2011. Mr Hayter will however remain on as a non-executive        
director of IQuad until the annual general meeting.                             
IQuad wish to thank Trevor for his duties as chairman and director of IQuad     
over the past years, and wish him well in his future endeavours.                
Shareholders are further advised in accordance with rule 3.59(c) of the         
Listings Requirements of the JSE, that Mr. Nico de Waal ("Mr de Waal")          
currently a non-executive director of IQuad has been appointed as the new       
chairman of the board. Mr de Waal holds a B.Eng (Mech) (Cum Laude) degree       
from the University of Stellenbosch, as well as an MBA from IESE Business       
School of the University of Navarre (Spain). Mr de Waal started his career as   
an engineer with Baker Hughes Inc. (USA) in Scotland and the Middle East in     
the oil and gas exploration industry (1998 - 2000). He then specialized in      
strategy and operations work as a management consultant at McKinsey & Co.       
(2001 - 2007), and also at SAB Miller (2008 - 2010). He recently transitioned   
to the Private Equity sector when he joined Paladin Capital Limited in 2011,    
a subsidiary of PSG Group Limited.                                              
The board welcomes the appointment of Mr de Waal as chairman and looks          
forward to his positive contributions going forward.                            
3 June 2011                                                                     
Port Elizabeth                                                                  
Designated Adviser                                                              
QuestCo Sponsors (Pty) Limited                                                  
Corporate Adviser                                                               
PSG Capital (Pty) Limited                                                       
Date: 03/06/2011 14:26:01 Supplied by www.sharenet.co.za                     
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