Annexure B

MEDIA RELEASE


I can confirm that I was informed by SARS today that it has accepted an offer of
compromise I submitted in respect of my outstanding tax. This followed my making
such an offer to SARS as provided for in the Tax Administration Act. I was informed
that a governance committee considered my submission and found it to have
complied with the requirements for such an offer.

I can further confirm that the offer was conditional on a number of aspects, including
that I accept that I failed in my past tax obligations that resulted in me owing the
fiscus outstanding tax. I failed to declare certain income in the past and consequently
failed to pay certain amounts of tax during the required periods. It was also a
requirement that my tax affairs be brought up to date at the time of the offer which I
have done. The offer to compromise took into account the existing outstanding tax of
R 18 million. I accept that additional assessments for tax years 2011 and 2012 will
follow and will include further amounts which will include capital, added
understatement penalties and interest, and which will be dealt with in the normal
course of my tax affairs going forward. I have committed to ensure that my tax
affairs will be in order going forward.

The offer made by me included an additional amount to be paid by me over and
above the amount that was collected by the curator bonis for SARS in selling off my
assets to date. I accept that in terms of the Tax Administration Act, SARS will not be
bound to the compromise in the event that I fail to disclose a material fact to which it
relates or in the event that I have supplied materially incorrect information or if I fail
to comply with provisions or conditions contained in the agreement. I have made a
full and verifiable disclosure to SARS in respect of my current assets and liabilities.

I accept that I did not attend to my tax affairs in the manner that I was required to by
law in the past and in certain instances, I left my financial affairs in the hands of
others without making sure that my obligations were complied with. When my
difficulty with SARS became public knowledge, I accepted and acted on advice from
persons, which in hindsight, I should not have. It is so that at times I was very
frustrated with the process and I may have said things publicly that reflected
negatively on the reputation of SARS and some of its officials. Where I may have
made public utterances that may have suggested bias or wrongdoing on the side of
SARS, I unreservedly apologise. I accept the bona fides of SARS and its officials
who have dealt with the matter. I have come to realise that the tax system of a
country is a key pillar to economic growth and stability. I recognise that SARS as
revenue and Customs agency plays a vital role in the building of our young
democracy. Paying your tax is probably the most direct means by which those who
are economically able, are afforded the opportunity to contribute towards those less
fortunate in our society, through the funding of social grants and government
development programs.

I believe it even more important that public and elected officials take the lead when it
comes to complying with their tax obligations because ultimately their own income is
derived from the tax base directly. My advice is that all taxpayers in South Africa
should take a keen interest in their own tax affairs and not leave matters unattended
until it becomes a problem. It is too easy an excuse to leave your tax affairs in the
hands of advisors and forget about it. Ultimately, there is no excuse for not paying
your tax and it only leads to higher penalties and interest over time. I hope my
experience with SARS will be a good example to others that it is not in the interest of
our country to disregard one's tax obligations. We must all contribute our required bit
towards building a better future for all. I would urge others who find themselves in a
similiar predicament as I did to rather work with SARS and resolve their disputes in
an amicable manner.

I hope to now put the matter behind me and focus on the future. I consider the matter
to have been finalised and have nothing further to discuss publicly on the matter.