REVIEW OF OPERATIONS

THE BOARD REQUESTED THAT MANAGEMENT "PROGRESS KEY PROJECTS, WHILE CAREFULLY REVIEWING ALL OTHER CAPITAL EXPENDITURE". MANAGEMENT REDUCED ITS CAPITAL BUDGET BY R250 MILLION BY DELAYING SOME REPLACEMENT AND LESS URGENT CAPITAL EXPENDITURE PROJECTS. OF THE R1,2 BILLION SPENT ON CAPITAL EXPENDITURE, R738 MILLION WAS INVESTED IN THE STRATEGIC CAPITAL PROGRAMME.

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REVIEW OF OPERATIONS: SANS TECHNICAL FIBERS MANAGEMENT TEAM

1 ZACH ZACHARIAS (50)
Zach is president of STF and has 29 years' experience in the fibers business. Previous roles have been in engineering project management, energy management, industrial engineering and international sales and marketing. Zach was business manager of the heavy denier fibre plants at SANS Fibres at Bellville before moving to the USA. In 2007, he joined the board of SANS Fibres as sales and marketing executive. Zach was chairman of the American Fiber Manufacturers Association in 2007. He has a BSc (Mech Eng) degree from the University of Cape Town.

2 TIM COLE (48)
Tim is operation manager of the Stoneville facility. Tim has extensive manufacturing experience in roles such as corporate environmental affairs manager, fiber plant engineering manager and as a director of engineering services at Unifi, formerly a partner in STF. Tim also spent seven years working in the area of polymer products. He has a BSc (Chem Eng) degree from Purdue University and is a Professional Engineer.

3 KIM CRENSHAW (43)
Kim joined STF as chief financial officer in 2008, and has 23 years' experience in accounting in the primary manufacturing industry. Her qualifications include a BSc degree from the University of North Carolina and in terms of professional associations she is a Member of, among others, the American Institute of Certified Public Accountants.

4 JOHN NAGLE (60)
John is responsible for sales in North America and has a career of 39 years in the textile industry, starting as a dyehouse laboratory manager and then moving into the commercial arena as trade manager. John's responsibilities include ensuring that the demanding requirements of the North American technical fibers market are fully met, and introducing and implementing new developments.

5 SHARON SCHMID (47)
Sharon is STF's technology manager responsible for quality control and assurance as well as new process and product development. She joined the company in 2003 and her background is in nylon technical yarn production and polymer manufacture. Her qualifications include a BChE degree from the Georgia Institute of Technology and she has completed an MBA at the University of South Carolina.