FFS REFINERS OVERVIEW

FFS Refiners (Pty) Ltd is the largest supplier of industrial heating fuels in South Africa. The Company markets products for a wide variety of uses, including glass making, brick making, steam raising in boilers, billet re-heating, baking, incineration, laundry, road-mix heating, lime kilns, sand and stone drying. The Company currently has over 250 customers who collectively consume more than 300 000 tons of fuel oil per year.

The Company’s head office is situated in Durban. There are six process plants and eight storage depots situated throughout South Africa. The processing facilities utilise a full range of technologies from thermal evaporation, static separation, low and high-speed centrifugation, filtration, blending, distillation, hydrogenation and cracking in order to achieve a wide range of products to exacting specifications. In addition there are facilities for processing oily effluent water. Each process operation or branch has a fully equipped laboratory where analysis is carried out on each and every batch of fuel that leaves the plant.

All branches operate under stringent environmental management systems and are ISO 14001 accredited. Internal quality management systems are also in operation to ensure that all products consistently comply with the laid down specifications.

The Company owns and operates a fleet of over 40 trucks which collect and deliver around 500 000 tons of fuel annually. All road tankers are operated by Hazchem trained drivers and carry the necessary documentation for the transportation of hazardous flammable liquids.

The highly skilled and competent engineering design department carries out research and development, as well as new plant and equipment design and construction. Much of the technology used in the oil refining solid:liquid and liquid:liquid separation has been developed by FFS.

The company also has a fabrication workshop where a wide range of plant and equipment is manufactured. This ranges from specialised road tankers, which are built to SANS 1518, to pressure vessels and heat exchangers, made to ASME VIII, as well as filters, reactors, fractionation columns, stills and centrifuges. Our clients' fuel oil reticulation systems, which are fabricated to the highest standards, are made in our workshops and transported to our clients, where our skilled technicians install and commission them.

PRESS RELEASE 01 SEPTEMBER 2007

FFS in major empowerment deal

FFS Refiners, the largest supplier of industrial liquid heating fuels in Southern Africa, has sold 25,1% of its ordinary shares to Calulo Petrochemicals in a major empowerment deal.

The transaction was facilitated by Sasol selling its 49% stake in FFS to Calulo and FFS management, who took up the balance of the shares. Funding was provided by Standard Corporate & Investment Bank.

Calulo Petrochemicals is a subsidiary of Calulo Investments which was founded in 1999 by Mkhuseli Faku and Mpho Diale. This Black-owned investment group has significant investments predominantly in the petrochemical sector. Both gentlemen have been appointed to the new board of FFS.

FFS chief executive officer Don Hunter says the company has now met the requirements of the current Broad-Based Black Economic Empowerment Code of Good Practice Act 53 of 2003.

FFS operates six refineries across the country, providing a wide range of fit-for-purpose oils, wood treatment preservatives and recycled base oil.

As a result of this transaction FFS has achieved an empowerment status necessary in order to meet the requirements of the current Broad-Based Black Economic Empowerment Code of Good Practice Act 53 of 2003.

AT THE SIGNING CEREMONY

BACK: Don Cochran — FFS General Manager Finance & Admin,

William Kieser — Calulo Group Exec. Director (Petrochemicals)

and Petrus Scholtz - FFS General Manager Marketing & Supply.

FRONT: Don Hunter — CEO of FFS and Mpho Diale Group CEO of Calulo

Don Hunter, CEO of FFS and Tony Hurter, FFS Chairman, with Mpho Diale, Group CEO of Calulo after negotiating the empowerment deal.