1. PRE TENDER FINALISATION building trust PROJECT: ELIAKIM NAMUNDJEBO PLAZA HOTEL – WINDHOEK (NAMIBIA)

2. CONTACT DETAILS CLIENT : PRIDE OF AFRICA (PTY) LTD CONSULTANTS ARCHITECT : JACVO WASSERFALL ARCHITECTS ENGINEERING (STRUCTURAL) : WINDHOEK CONSULTING ENGINEERS ENGINEER (ELECTRICAL) : WINDHOEK CONSULTING ENGINEERS ENGINEERING (MECHANICAL) : WINDHOEK CONSULTING ENGINEERS ENGINEERING (CIVIL) : WINDHOEK CONSULTING ENGINEERS QUANTITY SURVEYOR : SBDS & FOURIE INC. building trust

3. CONTACT DETAILS COMPETITORS: MURRAY AND ROBERTS NEW ERA DEVELOPMENTS NAMIBIA CONSTRUCTION TENDER CLOSING DATE : 09 FEBRUARY 2009 – 09 MARCH 2009 CONSTRUCTION START DATE : IMMEDIATELY CONTRACT END DATE : 16 APRIL 2010 LATEST (P.C) PENALTIES : N$50,000.00PER CALENDAR DAY INCENTIVES : N$20,000.00 PER CALENDAR DAY FOR EARLY OCCUPATION ESCALATION : HAYLETT CPAP building trust

4. CONTACT DETAILS CONDITIONS OF CONTRACT : AGREEMENT AND SCHEDULE OF CONDITIONS OF BUILDING CONTRACTS INSURANCES CAR : NMC (R194,000,000.00) CONTRACT SUM + 20% SASRIA : NMC (R194,000,000.00) CONTRACT SUM + 20% PUBLIC LIABILITY : NMC (R 10,000,000.00) LATERAL SUPPORT : NONE VALUE TO INSURE : APPROXIMATELY R194,000,000.00 EXCL VAT WAIVER OF LIEN : ??? ALTERED CLAUSES TO JBCC building trust

5. CONTACT DETAILS LOCATION : PHOTO’S NOT AVAILABLE (SITE VISIT NOT POSSIBLE DUE TO TIME CONSTRAINTS) building trust

6. SCOPE OF WORKS SCOPE: CONSTRUCTION OF A HOTEL BUILDING 13 STOREYS HIGH (TOTAL HEIGHT 43,6M) FROM LOWER BASEMENT FLOOR LEVEL TO THE TOP OF THE ROOF CONSTRUCTION MAINLY CONSISTS OF REINFORCED CONCRETE COLUMNS WITH POST TENSION CONCRETE SLABS, FILLED IN WITH BRICKWORK. ATTACHED TO THE MAIN BUILDING IS A CYLINDRICAL STRUCTURAL STEEL STRUCTURE WITH REINFORCED CONCRETE SLABS AND GLASS CLADDING INTERNALLY AND STEEL LOUVRED SCREENS EXTERNALLY LOWER BASEMENT 2678M2 UPPER BASEMENT 2774M2 GROUND FLOOR 2204M2 MEZZANINE FLOOR 1322M2 FIRST FLOOR 1271M2 SECOND FLOOR 1229M2 THIRD FLOOR 1141M2 FOURTH FLOOR 1229M2 FIFTH FLOOR 1045M2 SIXTH FLOOR 949M2 SEVENTH FLOOR 718M2 EIGTH FLOOR 317M2 VOID BETWEEN GROUND AND EIGHT FLOOR (CEILING HEIGHT 31M) 57M2 ADJACENT VOID BETWEEN MEZZANINE AND EIGHT FLOOR (CEILING HEIGHT 27,1M) (58 – 102M2) building trust

7. PROGRAMME CRITICAL PATH : ALLAN TO COMMENT COMPLEXITY OF PROGRAMME : ALLAN TO COMMENT ACHIEVABLE TO CONTRACT REQUIREMENTS : ALLAN TO COMMENT FLOAT ALLOWED (INCLUDED) : ALLAN TO COMMENT ALLOWANCES FOR INCLEMENT WEATHER : ALLAN TO COMMENT PRODUCTION OUTPUTS : ALLAN TO COMMENT building trust

8. PRELIMINARIES VALUE : R18,124,512.00 % OF NETT CONTRACT VALUE : RETURN / SITE MANAGER : ……………………………………………... building trust

9. PRELIMINARIES building trust

10. PRELIMINARIES building trust

11. UTILISATION building trust

12. PRICING DIRECT CONTRACTORS HUGE CONTINGENT OF PROVISIONAL SUMS IN BILL (R69,484,800.00) POST TENSIONING EXPANDED METAL SERVICE GATES EXTERNAL STONE CLADDING SWIMMING POOL VANITY SLABS STANDBY GENERATOR BUILT IN CUPBOARDS AUDIO EVACUATION EQUIPMENT RECEPTION COUNTERS DSTV INSTALLATION CARPET FLOOR COVERINGS ELECTRICAL INSTALLION HARDWOOD TIMBER DECKS FIRE DETECTION AND PROTECTION LAMINATED FLOOR COVERINGS SPRINKLER INSTALLATION GLASS WALL CLADDING BUILDING MANAGEMENT SYSTEM COMPOSITE PANEL CLADDING BOILERS, SOLAR HEATERS AND HEAT PUMP ROOF LIGHTS WATER AND FIRE PUMP AND TANK MESH SCREENS SPLIT AIRCONDITIONING GLAZED BATHROOM PARTITIONS VRF AIRCONDITIONING ALUMINUM SUNSCREENS EVAPORATIVE AND VENTILATION INSTALLATION ALUMINIUM LOUVRED ROOF DUCTED AIRCONDITIONING ALUMINIUM WINDOWS, DOORS, SHOPFRONTS COLD ROOM AND FREEZER BALUSTRADING COMPRESSED GAS AND LP GAS STEEL STAIRCASES LIFT ELEVATOR AND HOIST INSTALLATION SIGNAGE LAUNDRY EQUIPMENT KITCHEN EQUIPMENT MUNICIPAL CONNECTION BULK ELECTRICAL SUPPLY SEWER CONNECTION building trust

13. PRICING SUB-CONTRACT ADJUDICATION SHORT TIME FOR TENDER RESULTED IN NOT MANY PRICES THAT COUOLD BE PROCURED PRICES RECEIVED - PLUMBING AND DRAINAGE - CEILINGS AND PARTITIONS - WATERPROOFING - CONCRETE AND BRICKS - HARDWARE MATERIAL - GLAZING - EARTHWORKS AND EXTERNAL WORKS (THIS MORNING) - FLOORCOVERINGS building trust

14. UTILISATION building trust

15. RISKS TIME - ACHIEVABLE IN 14 MONTHS INSTEAD OF 12 AS IN CONTRACT (11 MONTHS) TECHNICALITY • SITE MANAGEMENT AND PLANNING ESSENTIAL • EXPERIENCED SITE MANAGEMENT TEAM AND QSNEEDED • PROVISIONAL SUM DELAYS COULD CAUSE PROGRESS DELAYS • COORDINATION OF VARIOUS SUBCONTRACTORS CLIENT • NAMIBIA FACTOR TO BE TAKEN INTO ACCOUNT • PAYMENT 30 DAYS FROM CERTFICATE IS A CASH FLOW CONSTRAINT building trust OTHER • FORM OF CONTRACT IS NAMIBIAN ONE, WE DO NOT KNOW THE INNS AND OUTS OF THIS CONTRACT • APPOINTMENT OF SITE MANAGEMENT A RISK

16. MANAGEMENT CAPACITY building trust

17. CHECKS & BALANCES - RETURN / PER SITE MANAGER / MONTH : R…760,000……(APP)…………. (On Mark-up & Salary recovery) • AVERAGE TURNOVER PER MONTH : R..10,700,000…(APP)………… - AVERAGE PROFIT PER MONTH : R …714,000.00 (APP 6.5%).. building trust

18. VALUE LABOUR : ……………………………………………... MATERIALS : ……………………………………………... SUB-CONTRACT : ……………………………………………... PRELIMINARY & GENERAL : ……………………………………………... PROVISIONAL SUMS : ……………………………………………... ESCALATION : ……………………………………………... CONTINGENCY : ……………………………………………... TOTAL : ……………………………………………... MARK-UP ………% : ……………………………………………... CONTRACT SUM (excluding VAT) : ……………………………………………... building trust

19. LIST OF CLARIFICATIONS • 14 MONTHS CONTRACT PERIOD ACTUAL • PAYMENT 14 DAYS FROM CERTIFICATE • APPOINTMENTS OF NOMINATED/SELECTEDS DEADLINE building trust