Appendix 1

1
Appendix 1Divisional Review
2
Bidfreight Bracing

• Results
• Momentum continued into H1 as investments in
  capacity and efficiencies realise rewards
• Customer demand for services robust, volumes
  pleasing
• Safcor Panalpina billings up 12, benefiting
  from a weaker ZAR interest rates margin
  erosion
• Marine profits well ahead of budget
• IVS Profits up despite recent fire reducing
  capacity Durban Isando volumes strong and
  Richards Bay outperformed on new business
• RDS challenges referred to previously remain but
  strategic actions to improve profitability in
  process Durban terminal delays severely impact
  turnaround times

Rm
3.1
2.9
Trading margin
Appendix 1
3
Bidfreight Bracing

• Bulk Connections upgraded facilities paying off
  in higher volumes and new custom
• SABT profits well ahead of budget volumes up
  38 railway service shortfalls reduce potential
  of this business
• SACD Freight high volumes at depots margins
  assisted by cost containment
• BPO port operations profits up meaningfully new
  capacity at Maydon Wharf accommodated increased
  demand steel ferrochrome exports pleasing
  forest product exports remain weak
• Manica challenging regional markets DRC
  commodity volumes reduced Botswana performed
  well on vigorous clearing activity
  severe skills shortage in Malawi and Zambia
  ops Zimbabwe trades well on
  food aid volumes
• Naval strong metical eroded margins
• Strategic Imperatives and Prospects
• Agency JV in Marine 6 new SABT silos IVS new
  builds
• No change in status of national ports major
  impediment
• Demand for port based services growing
• Real profit growth assured for F2008

13.5
Current contr. to Group Operating Profit
Appendix 1
4
Bidserv Healthy Wealthy
Revenue 19

• Results
• Fine results in particular from BidTravel, TMS,
  BidAir, Industrial Products, Security, TopTurf,
  Bidvest Bank
• Continuing to gain profitable ground in all
  markets
• Prestige Creditable result in face of legislated
  wage rises that cannot be recovered in full
• TMS Profits up significantly, growth in new
  contracts
• Laundries Increases in key inputs but profits up
  14 new equipment business promising
• Steiner Cost pressures evident and some
  difficulties with smaller units but excellent
  result from flagship Steiner Hygiene
• Security Strong recovery from industry-wide
  strike action
• Global Payment Technologies reasonable result,
  cash handling good
• Top Turf Execution of recent offshore contracts
  boosts profits by 45 but local operations below
  par

Operating profit 28
Operating margin 12.8
Rm
12.8
11.8
Trading margin
Appendix 1
5
Bidserv Healthy Wealthy

• Industrial Substantial rise in profits
  competitive strengths cement market position
• My Market meaningfully profitable as
  stand-alone procurement proving its worth
• Office Konica Minolta Oce Konica Minolta
  performing well, Oce improving from a low base
• BidAir Brisk airport activity super ramp
  license to serve 12 airlines effective 1 March
  2008 necessary equipment already in place
• BidTravel Building on management actions last
  year to improve performance cost cutting drive
  underway to further consolidate competitive
  position

15.8
Current contr. to Group Operating Profit

• Bidvest Bank 39 rise in profits despite
  expensing of significant marketing costs Master
  Currency business up to expectation
• Hotel Amenities Performs strongly due to higher
  hotel occupancies and increased number of hotels
• Strategic Imperatives and Prospects
• TMS specialist services (petrochemicals) finding
  favour locally and increasingly abroad
• Bidserv expecting a record year, generating
  group-leading margins
• Critical mass of this soft services segment
  unparalleled in South Africa

Appendix 1
6
Bidvest Europe Tactical Advantage

• Results
• Operating profit up 14 to 28m, with UK up 8 to
  23.4m, Netherlands up 30 to 5.6m and Belgium
  up from 0.3m to 0.8m. All operations in line
  with budget. Sterling average exchange rate 1.45
  (1.48)
• 3663 benefiting from tactical measures taken last
  year to capitalise on market shake-out strict
  expense control
• Deli XL Netherlands 8.15m profit vs. 6.3m
  revenue 355m, up 2 ROS 2.3 (1.8) cash
  generated by operations 14.6m inflation in food
  products escalating markets remain difficult
  with volumes overall flat
• Deli XL Belgium 1.1m profit on 117.2m revenue
  ROS 0.9 (1.6) Kruidenier Belgium incorporated
  extraction of efficiencies
• Horeca 52 000 profit, ROS 2.7. New agency
  acquired one-off impact of Asian games out of
  the system

Revenue 7
Operating profit 20
Operating margin 2.6
Rm
2.6
2.3
Trading margin
Appendix 1
7
Bidvest Europe Tactical Advantage

• 3663 sales 1 up at 801m (8 like-for-like
  excluding MOD) profits up 8 to 23.4m ROS 2.9
  vs. 2.7 cash generated by ops 33.7m capex 11m
  vs. 10m
• Good working capital management and overhead cost
  control
• Wholesale successfully reorganised, efficiencies
  gained
• Food price inflation being passed on, with
  benefits for margin
• Multi-temp sales and profits up 15, well ahead
  of market
• CD profits up sharply on efficiencies
• Frozen, Fresh Chill profits stable, helped by
  cost savings Fresh under strategic review for
  optimal positioning
• New management structure at Barton benefits H2
• Strategic imperatives prospects
• 2007 UK GDP growth 3.1 and hotel catering
  growth 3.6 - unlikely to be maintained at this
  strong rate interest rates have eased 3663 well
  placed to turn competitor stress to own advantage
  
• DeliXL wins Starbucks contract in Netherlands
  acquisitive options open
• Strong year in prospect for Bidvest Europe

16.6
Current contr. to Group Operating Profit
Appendix 1
8
Bidvest Asia Pacific True blue tucker
Revenue 59

• Results
• Every Australian business unit now profitable
• New Zealand market share gains
• Angliss has settled in well
• Australia sales up 16 (5 acquisitive) to 711m
  with profits rising 23 to 27m ROS 3.8 vs.
  3.6 GDP growth running at 4 food inflation up
  to 6
• Foodservice sales up 12, profits up 36
  Melbourne Sydney sustainably profitable
  upgrades underway to cope with growth
• Hospitality remains in development phase,
  promising
• QSR sales up 27 and profits up 75, assisted by
  transfer of Subway business margin exceeds 1
  organic growth 6

Operating profit 61
Operating margin 3.8
Rm
3.8
3.8
Trading margin
Appendix 1
9
Bidvest Asia Pacific True blue tucker

• New Zealand sales up 18 to NZ186.9m and
  profits up 21 to NZ8.8m ROS 4.7 15 real
  growth from new customers, new products
• Fresh profits up 31 new acquisition to lead
  growth
• Foodservice profits up 14 infrastructure
  investment
• Angliss R46m profit Singapore and Hong Kong
  operating performance highly satisfactory, region
  strong, underscores merits of purchase
• Strategic imperatives prospects
• Australia targeting gt4 margin double-digit
  profit growth for 2008
• New Zealand further acquisitions, outperform
  industry
• Singapore margins approaching 4, economy
  buoyant
• Hong Kong/China margins in the 3 to 4 range,
  robust markets, Beijing Olympics a positive

10.2
Current contr. to Group Operating Profit
Appendix 1
10
Bidfood The right ingredients
Revenue 15

• Results
• Pleasing execution of strategic re-alignment
• Record levels of profitability food inflation
  benefit
• Ingredients delivers on promise to improve
  returns
• Caterplus net revenue up 21 and profits up 24
  national accounts, street trade, and industrial
  catering revenues outperform higher average
  basket values and average spend
• Speciality Patleys grew revenue by 24 and
  profits by 34 promotions pay off price
  increases successfully passed through top LSM
  customer focus shields from squeeze

Operating profit 25
Operating margin 8.5
Rm
8.5
7.9
Trading margin
Appendix 1
11
Bidfood The right ingredients

• Ingredients modest increase in revenue
  translates to 19 rise in profits Crown National
  profits up substantially with all regions trading
  well Bidbake performance encouraging exports
  growing strongly off a very small base
• Strategic imperatives prospects
• Increasing cooperation across businesses to grow
  market share, grow basket, and grow average spend
  per customer
• Investments made in people, facilities, and
  equipment will continue to enhance returns
• QSR restaurant trade showing stress, buy-down
  trends evident
• Stock holdings will be managed to profit from
  inflation
• Further gains expected in H2, leading to a good
  overall 2008 result

7.8
Current contr. to Group Operating Profit
Appendix 1
12
BidIndustrial Commercial Products
Cooling off

• Results
• Revenue growth not out of line with guidance
  profit growth stalled, but at an exceptionally
  high level
• Voltex, Office, Packaging Vulcan profits
  broadly flat
• Voltex revenue up 12 but trading progressively
  tighter, particularly in contracting copper
  price fall in Q2 reduced profits (estimated 20
  impact) working capital is receiving vigorous
  attention
• Stationery Furniture profits flat overall
• Waltons profits grew by 19 expanded footprint
  with refurbished and new stores
• Kolok suffered a setback as a result of
  cut-throat competition among distributors
  emphasis on store positioning continued and
  overall expense control was good
• Furniture achieved growth overall

Revenue 9
Operating profit 0
Operating margin 7.2
Rm
7.8
7.2
Trading margin
Appendix 1
13
BidIndustrial Commercial Products
Cooling off

• Packaging
• Afcom GE Hudson grew market share as a result of
  an expanded offering
• Buffalo Executapes DIY range made further
  inroads
• Vulcan catering equipment margins came under
  some pressure
• Strategic imperatives prospects
• Voltex is capitalising vigorously on energy
  crisis opportunity
• But, a slowdown in contracting is being
  experienced and
  sustained power shortages are likely to curtail
  developments, impact mining
• 2nd half looking more promising copper price
  recovery and weaker
  Rand

13.7
Current contr. to Group Operating Profit
Appendix 1
14
Bidpaper Plus Consolidating, for the Future
Revenue 5

• Results
• Strategy of optimising cash generation from
  mature products whilst building presence in
  electronic solutions gathers pace
• Lufil packaging integrated into Labeling
  packaging sub-division
• Complementary acquisitions on the table
• Siveray/Statmark re-capitalisation completed and
  will materially improve productivity
• Croxley brand continues to benefit from earlier
  re-vamp

Operating profit 10
Operating margin 12.4
Rm
12.4
11.8
Trading margin
Appendix 1
15
Bidpaper Plus Consolidating, for the Future

• Strategic imperatives prospects
• Traditional print expected to contract and mature
  whilst e-products expand
• Management focused on optimally managing two
  contrasting business cycles reinvesting for
  future returns
• Modest growth expected for 2008

5.2
Current contr. to Group Operating Profit
Appendix 1
16
Bid Auto Balancing the load

• Results
• Like-for-like profit declined 27 but timely
  fleet management diversification resulted in flat
  earnings
• Viamax acquisition (R960m) results accounted
  effective 1 July 2007
• Total vehicle sales down 4 to 44 448 units, with
  used vehicle sales up 8 to 21 051 units and new
  unit sales down 12 to 23 397
• Motor retail, Distribution and Finance
  Insurance profits declined but Viamax acquisition
  contributed positively in its 1st half Car Van
  Rental was flat Burchmores auction business
  performed well
• Heavy Equipment has had a promising start
• Working capital inflated by traditional seasonal
  factors, rental vehicle turnbacks and impact of
  OEM-imposed stocking
• No significant used vehicle stock over-valuations
  

Revenue 4
Operating profit 1
Operating margin 3.6
Rm
3.7
3.6
Trading margin
Appendix 1
17
Bid Auto Balancing the load

• Strategic imperatives prospects
• Motor retail at the sharp end of reducing
  consumer spending
• Market for passenger vehicles remains weak
  compared to the prior year with continuing margin
  pressure
• Quality control on imports will take precedence
  over pushing volume Chery launch timely
• Three new Value Centres opening
• Dealership profit improvement programme to
  continue
• Budget Car and Van Rental expanding geographic
  footprint
• Diversification has resulted in motor retailing
  component reducing to
  less than 40
• Negatives will be offset by positives for the
  remainder of the fiscal
  year

14.6
Current contr. to Group Operating Profit
Appendix 1
18
Corporate Bricks Mortar

• Results
• Bidvest Properties continues to make a meaningful
  contribution to group
• Namsov affected by poor weather and catches
• All Namibian assets folded into Bidvest Namibia,
  to be managed by Namibians.
• Bidvest Namibia due for listing before the end of
  calendar 2008
• On-Time Automotive continues to struggle

Revenue 20
Operating profit 42
Operating margin N/A
Rm
2.6
Current contr. to Group Operating Profit
Appendix 1
19
Appendix 2Historic Performance
20
Historic Performance
5.1
5.2
5.2
4.6
4.9
4.4
4.4
4.5
4.7
Impact of Viamax Angliss
Distribution
17.5 CAGR over 5 years
18,6 CAGR over 5 years
Appendix 2