Mr Tony Yengeni - Media Statement (prepared by Brian Kahn Inc)

Mr. Yengeni was out of the country and returned to South Africa yesterday morning. This is his first opportunity to deal with the recent events publicized regarding his appointment as a director in private companies.

Upon his return he immediately consulted his attorneys and he was advised to resign from such appointments with immediate effect, which he did. Since 2003 Mr. Yengeni believed that he was only limited in holding the office of director in public companies - which is what he understood the term public office to mean.

Mr. Yengeni at no time intended to contravene the Companies Act and regrets the incidents. He has instructed his attorneys Brian Kahn Inc to prepare an application seeking authority from the High Court for him to hold the office of director.

Statement issued by Mr Brian Kahn on behalf of Tony Yengeni, November 4 2010

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