It is with pleasure that KWV announces the appointment of Messrs John Copelyn, Marcel Golding and Andre van der Veen from Hosken Consolidated Investments (HCI) to the Board.

Following the disposal by Zeder Investments of its investment in KWV Holdings to HCI, Messrs Antonie Jacobs and Jannie Mouton tendered their resignation from the Board with immediate effect.

Following the disposal by Rootstock Capital of its holding in KWV to HCI, the Chairman Mr Thys du Toit tendered his resignation from the Board with effect from May 1st 2011, to ensure a smooth transition.

Messrs Abrie Botha and Phillip Retief tendered their resignations in the normal course of business, to devote more time to their respective executive duties. Mr Retief resigned with immediate effect and Mr Botha with effect from May 1st 2011.

We congratulate Mr Marcel Golding who has been elected Chairman of KWV with effect from May 1st 2011.

The Board appreciates the contribution of the members retiring from service and in particular the leadership of the chairman shaped by his business acumen, energy and dedication.

The Board would also like to thank management and staff for their contributions and resilience during the past few months and look forward towards focusing on the task at hand: ensuring the commercial success of the company and its brands, and further building on a longstanding legacy of integrity at KWV.