TRANSNET STATEMENT ON MR SIYABONGA GAMA

Mr Siyabonga Gama, the chief executive at Transnet Freight Rail, has been suspended, pending the outcome of an internal disciplinary process.

Mr Gama has been requested to attend a disciplinary hearing relating to an alleged serious breach of governance requirements in respect of two procurement contracts (see report).

Transnet is committed to ensuring that due process in relation to the disciplinary matter is followed, and the process, which enjoys the Board's unanimous support, will be adjudicated by an independent and external arbitrator.

We have provided a commitment to all our stakeholders that this process will not impact on our service delivery in any way. Our clients deserve an efficient, reliable, cost-effective and safe service from all our operations.

Note to editors: During this process, we will not be commenting on this labour relations matter to enable due process to take its course and that the reputation of all role players is preserved.

Statement issued by Transnet Limited, September 2 2009

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