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NEW AFRICAN INVESTMENTS LIMITED
METROPOLITAN LIFE LIMITED
COMMUNIQUE ISSUED BY NAIL
ADVOCATE DIKGANG MOSENEKE SC RESIGNS FROM NAIL
New Africa Investments Limited NAIL wishes to announce that Advocate Dikgang
Moseneke has accepted an acting appointment to the judiciary with effect
from the end of July. Consequently Moseneke has tendered his resignation as
acting Chairman and CEO of NAIL to the Board of Directors with effect 31
July 2001. The company wishes to congratulate Moseneke on this appointment.
NAIL acknowledges Moseneke's tremendous contribution in charting a new
strategic direction for the company, advancing economic empowerment and
creating shareholder value. In as much as the company is sad to lose the
talents and devotions of Moseneke, we wish him well in his chosen role in
the judiciary.
The company is confident that the restructuring will not be unduly disrupted
by Moseneke's departure, as this is well underway. Moseneke commented, "
the basics are in place and the restructuring and transformation of NAIL and
Metropolitan have taken on a momentum of their own. I look forward to
making a continued contribution to NAIL's restructuring over the next two
months before this appointment takes effect."
The NAIL board is expected to make an announcement regarding Moseneke's
successor shortly.
ISSUED BY: NONIE MOKOSE
CORPORATE COMMUNICATIONS EXECUTIVE
NEW AFRICA INVESTMENTS LIMITED
TEL: 011-463-1744
DATE: 1 JUNE 2001
COMMUNIQUE ISSUED BY METROPOLITAN
Advocate Dikgang Moseneke SC to stand down as Chairman of Metropolitan
The chairman of the board of Metropolitan, Advocate Dikgang Moseneke, has
accepted an acting judicial appointment, and will be standing down from the
board of the financial services group with effect from 31 July.
As a director since 1993 and chairman for the past three years, Advocate
Moseneke has been closely associated with Metropolitan's new strategic
direction, including the strengthening of its empowerment credentials, and
the substantial growth achieved by the group during this period.
"I am particularly sad to be leaving Metropolitan now that everything is in
place for it to become the world-class African-based business that it
aspires to be. However, I have every confidence in the ability of the board
and the members of the top team to ensure that the group attains market
leadership in selected segments of the financial services sector.
"I am also looking forward to the completion of the convergence of
Metropolitan and New Africa Investments Limited (NAIL), which will be a
specific area of focus during the remainder of my time with both groups,"
says Moseneke.
The Metropolitan board will be announcing the name of Advocate Moseneke's
successor shortly.
ISSUED BY SUE SNOW
FINANCIAL MEDIA SPECIALIST
METROPOLITAN
TEL 2721 9406119
DATE 1 JUNE 2001
QUERIES PETER DOYLE
GROUP CHIEF EXECUTIVE
METROPOLITAN
TEL 2721 9405681
COMMUNIQUE ISSUED BY TELKOM
ADVOCATE DIKGANG MOSENEKE SC RESIGNS AS CHAIRMAN OF TELKOM
Telkom announced that Dikgang Moseneke SC has accepted an acting judicial
appointment and will step down as chairman of the board of Telkom on 31 July
having served in this role for the last 7 years.
Telkom has gone through significant transformation under Dikgang Moseneke's
leadership. Telkom has made significant progress in modernising the
telecoms network, improving teledensity and making telephony accessible to
the poor, as well as preparing for competition over the last few years. "I
will miss the challenge as Telkom enters a new era as a listed entity in a
competitive environment. But I am confident that Telkom has the necessary
leadership depth to take the company forward. For the next two months, I
will be concentrating on getting the company ready for the IPO", said
Moseneke.
The Minister of Communications, Dr Ivy Matsepe-Casaburri, will soon be
making an announcement of Moseneke's replacement.
ISSUED BY: SIZWE NXASANA
CHIEF EXECUTIVE OFFICER
TELKOM
TEL: 012-311-2473
DATE: 1 JUNE 2001
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