OVERVIEW

AECI'S CHAIRMAN, IN HIS LETTER TO SHAREHOLDERS IN THE 2008 ANNUAL REPORT, NOTED THAT "2009 WILL BE A CHALLENGING YEAR WITH MUCH UNCERTAINTY AND, THEREFORE, THE PRESERVATION OF CASH WILL BE A PRIORITY." THE BOARD REQUESTED THAT AECI'S MANAGEMENT CONCENTRATE ON FOUR KEY AREAS TO STEER THE COMPANY THROUGH THE ECONOMIC CRISIS. STRATEGIES IN THIS REGARD, SUMMARIES ON HOW THEY WERE APPLIED, AND THE RESULTS THEREOF, ARE PROVIDED IN THE INTRODUCTIONS TO CORPORATE GOVERNANCE, THE REVIEW OF OPERATIONS, CORPORATE CITIZENSHIP AND THE ANNUAL FINANCIAL STATEMENTS.

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NON-EXECUTIVE DIRECTORS

		FANI TITI (47) BSc (Hons), MA, MBA Fani joined AECI's Board in 2005 and assumed its chairmanship, as well as membership of the Nominations and Remuneration Committees, in 2007. He is currently non-executive chairman of Investec Bank Limited and an executive director of the Tsiya Group, a private equity firm.

		RICHARD DUNNE (61) CA(SA) Richard joined AECI's Board in 2007 and chairs the Nominations, Remuneration and Risk Committees. He is also a member of the Audit Committee and chairs Chemical Services Limited's financial review committee. Richard retired from Deloitte & Touche in 2006, as chief operating officer. He is a member of the boards and audit committees of Anglo Platinum, the Standard Bank Group and Tiger Brands.

		SCHALK ENGELBRECHT (63) BSc, MBL Schalk retired as AECI's chief executive in 2008, having served in that position since 2003. He is a member of the Nominations, Remuneration and Risk Committees. In 1980, Schalk joined Chemical Services Limited where he managed a number of subsidiaries before being appointed that group's managing director in 1998. He also serves on the board of Imperial Holdings.

		ZELLAH FUPHE (41) BSocialSc She joined the AECI Board in 2007 and is a member of the Corporate Citizenship Committee. A graduate of the University of Cape Town, Zellah is managing director of Plessey South Africa. Zellah serves on the Unisa School of Business and Leadership board and previously served on the boards of Afric Oil (chair), Worldwide Coal Carolina (chair), Engen Limited, the Oceana Group and Worldwide African Investment Holdings.

		MIKE LEEMING (66) BCom, MCom, FCMA, FIBSA, AMP (Harvard) A non-executive member of the AECI Board since 2002, Mike is chairman of the Audit Committee, a member of the Corporate Citizenship Committee and chairman of Heartland's financial review committee. He is a retired executive director of Nedcor and past chairman of the Banking Council of South Africa and president of the Institute of Bankers. He also serves as a non-executive director on the boards of Altron, Imperial Holdings, Real Africa and Woolworths.

		LITHA NYHONYHA (50) CA(SA) Appointed to the AECI Board in 2006, Litha is chairman of the Corporate Citizenship Committee, a member of the Audit Committee and chairman of AEL Mining Services' financial review committee. He is executive chairman and a founder member of Regiments Capital, a black-controlled and managed financial services group. He is also a director of Plessey Telecommunications, Regiments Securities, Sovereign Foods and Worldwide African Investment Holdings.