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JSE Limited

JSE Limited. Russell Loubser CEO. Our business today. 5 Markets Equities – listing, trading & regulation of shares, ETFs and warrants Equity Derivatives – SSF, index derivatives, can-do options Agricultural Products – maize, wheat, soya and sunflowers Alt X Yield-X

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JSE Limited

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  1. JSE Limited Russell Loubser CEO

  2. Our business today • 5 Markets • Equities – listing, trading & regulation of shares, ETFs and warrants • Equity Derivatives – SSF, index derivatives, can-do options • Agricultural Products – maize, wheat, soya and sunflowers • AltX • Yield-X • Equities and derivatives clearing • Own 11% of SAFCOM • Settlement • Own 41% of STRATE • Guarantee of equity trades • Information product sales • Technology services

  3. Our business today Equities • Warrant issues more than doubled in 2006– 356 YTD • Continued increase in equity trading volumes and values • Average daily value traded up 80% YTD • Average daily number of trades up 65% YTD • Net foreign investment at an all time high– R56.5 billion YTD • Liquidity improved – 46.0% YTD • New inward dual listings Equity Derivatives • Strong performance in equity derivatives • Average daily number of contracts up 79% YTD • Open interest up 41% YTD

  4. Our business today Agricultural projects • Recovery in 2006 • Average daily number of contracts up 4% YTD Alt-X • 23 companies currently listed • 8 new companies • 1 company graduated to the Main Board • 1 company migrated from Main Board to take advantage of better matched value proposition Information Products • Increase in number of live equity and indices terminals • 16% increase in international terminals YTD • 11% increase in local terminals YTD • 57% of total live equity terminals international

  5. Key financial highlights – 30 June 2006 • Strong financial performance: Revenue R313 025 000 (up 67% on June 2005) • Expenses: R261 442 000 (up47% on June 2005) • Employee Scheme, Broad-Based BEE Initiative; STRATE Ad Valorem charge • Basic Earnings per share: 110.4c (up 95% on June 2005) • Headline earnings per share: 104.0c (up 98% on June 2005) • Net asset value per share:R9.47 (up 30% on June 2005) • Margins and collateral managed by JSE Group: R8.4bn (up 61% on June 2005) • JSE Trustees funds managed by JSE Group at period end: R15.5bn (up 74% up on June 2005) • Maiden dividend: 13.6c per share awarded June 2006 All figures post share subdivision Note: NAV/share calculation excludes shares issued for JEF. JSE Guarantee Fund Trust and the JSE Derivatives Fidelity Fund Trust are legally separate from the JSE, neither the JSE nor its shareholders have any right to the net assets of such Trusts.

  6. JSE Group Income Statement: 30 June 2006

  7. JSE Revenue Composition 2005 30 June 2006

  8. Next Steps Equities • Foreign companies, ETFs, African listings, listed company forums • Settlement needs to move from T+5 to T+3 together with a reduction in costs • Broad-based investor education initiatives to continue with strategic partners Equity Derivatives • Currency derivatives, continued SSF growth and over-the-counter market • Trading platform to be upgraded through Project Orion Agricultural Products • Auction facility for physical deliveries – followed in longer term by spot market • Move to settlement by electronic silo receipts • Trading platform to be upgraded through Project Orion

  9. Next Steps Alt-X • New listings in pipeline Yield-X • List Corporate Bonds • Target retail issuers Information Products • Leverage data available through flexibility Project Orion will offer • Fundamental data strategy development Technology Services • Complete implementation of Project Orion • Implementation of new SETS system • Managed network

  10. Uniquely positioned for the future • Much has been achieved to get this exchange to be able to offer a world class environment • The future of our markets will be defined by the choices we make now • Best placed to take advantage of both the growing local environment and international opportunities • Continued focus for investment given ongoing expansion of global capital markets • This country is alive with possibilities for all of us

  11. Questions?

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