ANNEXURE 1 INVESTMENT IN SUBSIDIARIES

FOR THE YEAR ENDED 30 JUNE 2010

                      SHARES   AMOUNTS OWING  
                      AT COST   BY/(TO) SUBSIDIARIES  
                  EFFECTIVE                  
        COUNTRY OF     ISSUED   HOLDING   2010   2009   2010   2009  
        INCORPORATION     CAPITAL   %   R’000   R’000   R’000   R’000  
  Held directly                                  
  Akani Investment Holdings                                  
  (Proprietary) Limited     South Africa     R102 091   34   1 348   43   (736)    
  WBHO Construction (Proprietary) Limited     South Africa     R900 000   100   42 738   42 738   (101 342)   (45 299)  
  Ovcon Holdings (Proprietary) Limited     South Africa     R280   100         (9 969)  
  WBHO Industrial Holdings                                  
  (Proprietary) Limited     South Africa     R100   100       184 308   184 308  
                                     
  Held indirectly                                  
  Altech Marketing Limited     Jersey     GBP9   100                  
  C.E.C.K Civil Construction                                  
  Proprietary Limited     Australia     AU$600   43                  
  Edwin Construction (Proprietary) Limited     South Africa     R100   57                  
  Insitu Pipelines (Proprietary) Limited     South Africa     R100   70                  
  Kalcon (Proprietary) Limited     Botswana     P2   100                  
  LET Construction (Proprietary) Limited     South Africa     R480 000   100                  
  Matkovich & Hayes (Proprietary) Limited     South Africa     R10 000   51                  
  Probuild Civil QLD (Proprietary) Limited                                  
  (previously Basic Construction                                  
  Proprietary Limited)     Australia     AU$140 004   61                  
  Probuild Constructions (Aust)                                  
  Proprietary Limited     Australia     AU$37 946 003   69,4                  
  Probuild Residential Proprietary Limited     Australia     AU$ 533 644   69,4                  
  Roadspan Holdings (Proprietary) Limited     South Africa     R9 900   70                  
  Simbithi Eco Estate (Proprietary) Limited     South Africa     R100   100                  
  St Francis Links (Proprietary) Limited     South Africa     R100   80                  
  Suncon (Proprietary) Limited     Botswana     P12 000   100                  
  WBHO Australia Proprietary Limited     Australia     AU$26 400 000   100                  
  WBHO Construcao Mozambique Limitada     Mozambique     US$403 910   100                  
  WBHO Construction Sierra Leone Limited     Sierra Leone     Le100 000   99,9                  
  WBHO Ghana (Proprietary) Limited     Ghana     $500 000   100                  
  WBHO Mozambique Projects Limitada     Mozambique     Mt10 000 000   99,9                  
  WBHO Property Development                                  
  (Proprietary) Limited     South Africa     R100   100                  
  WBHO Swaziland Limited     Swaziland     E2   100                  
                      44 086   42 781   82 230   129 040  
  Investments in dormant subsidiaries have been omitted.  
                                     
  WBHO Construcao Mozambique Limitada has a 31 December reporting date and WBHO Ghana (Proprietary) Limited has a 31 March reporting date, changes to the reporting dates are not permitted per the respective countries’ legislation. Management information for the period to 30 June 2010, which has been reviewed, has been consolidated.