Annexure B

PRINCIPAL INVESTMENTS AT 31 MARCH 2008

       
NAME OF COMPANY   LISTED   UNLISTED  
    2008   2007   2008   2007  
      Effective    Effective    Effective    Effective 
Incorporated in South Africa   Shares  interest  Shares  interest  Shares  interest  Shares  interest 
unless otherwise stated   held  held  held  held 
Tobacco interests                  
R&R Holdings SA – Luxembourg (1)                  
– ordinary shares           316 000  33.3  316 000  33.3 
– debentures           682 291  38.7  682 291  38.7 
– participating securities (2005)           19 281 686  100  19 281 686  100 
– participating securities (2006)           33.3  33.3 
– held by R&R Holdings SA:                  
   – BAT Plc – UK (30%) (1)     10.6    10.4         
                   
Financial services                  
RMB Holdings Limited (2)   302 279 403  25  280 946 517  23.7         
– held by RMB                  
     Holdings Limited:                  
  – FirstRand Limited (33%)     8.2    7.8         
FirstRand Limited (2)   481 142 375  9.3  481 142 375  9.3         
                   
Industrial interests                  
Air Products South Africa                  
   (Pty) Limited (1)           4 500 000  50  4 500 000  50 
Dorbyl Limited (1)   14 058 346  41.4  14 058 346  41.4         
Kagiso Trust Investments                  
   (Pty) Limited *(2)           10 344  41.8  10 344  41.8 
Medi-Clinic Corporation                  
   Limited (1)   257 346 286  45.9  171 128 418  47.6         
Nampak Limited (1)   78 096 694  13.3  78 096 694  13.4         
PGSI Limited – BVI #*(3)           11 153 362  28.5  –  – 
Unilever Bestfoods                  
   Robertsons (Holdings)                  
   Limited L.L.C. – USA (4)           –  –  8 200  41 
Unilever South Africa                  
   Holdings (Pty) Limited (5)           5 348 135  25.8  –  – 
Total South Africa                  
   (Pty) Limited *(2)           12 872 450  33.2  12 872 450  33.2 
Remgro-KWV Beleggings                  
   Limited (2)           50  50  50  50 
– held by Remgro-KWV                  
Beleggings Limited:                  
   – Distell Group                  
        Limited (59%)     29.4    29.4         
                   
Mining interests                  
Impala Platinum                  
   Holdings Limited **   26 687 288  4.4  26 687 288  4.2         
Trans Hex Group Limited Δ (1)   30 215 000  28.5  30 215 000  33.6         
                   
Other interests                  
Business Partners Limited (1)           36 204 249  21.1  35 766 919  21.3 
Xiocom Wireless, Inc. – USA (6)           11 250 000  44.4  –  – 
 
Financial period accounted for:
(1) Twelve months to 31 March 2008
(2) Twelve months to 31 December 2007
(3) For five months from date of purchase to 31 December 2007
(4) For six months from 1 April 2007 to date of restructuring of interest in Unilever
(5) For six months from restructuring of interest in Unilever to 31 March 2008
(6) For eight months from date of purchase to 31 March 2008


* Effective interest, on a fully diluted basis:
   – Total South Africa (Pty) Limited 24.9%
   – Kagiso Trust Investments (Pty) Limited 37.1%
   – Business Partners Limited 20.2% (2007: 20.0%)
   – PGSI Limited 24.5%
** Not an associated company
# Interest acquired on 31 July 2007
Δ During March 2008 Trans Hex converted 16 000 000 compulsorily convertible debentures, issued during 2002, into ordinary shares in the ratio of 1:1.    Remgro’s share therefore diluted to 28.5%.


BVI – British Virgin Islands
UK – United Kingdom
USA – United States of America

Details of investments which are not material to the evaluation of the business of the Group, are not shown.