• Major new investment in Mali
• Zambian expansion well advanced
• Revenue up 5% to R3 428 million
• HEPS up 7% to 81.3 cents
• Estimated annual sugar production up 9% to 1.875 million tons
• Interim dividend up 10% to 33 cents per share

Don MacLeod, Managing Director, said:

“We are announcing today a major new investment in Mali for the construction of a 200 000 ton sugar mill, ethanol plant and electricity co-generation facility. This exciting investment fits with our strategy of expanding the group’s production base in Africa and to be the leading, lowest-cost sugar producer on the continent. We are also pleased with the progress of our expansion in Zambia with the first phase of the commissioning due in April 2008.

Our sugar production is expected to be higher this year despite variable weather conditions across our operations. We anticipate a modest increase in our earnings for the year, considering the stronger rand and lower world sugar prices.”

Enquiries:

Illovo Sugar                                                    031 508 4300
Don MacLeod, Managing Director
Karin Zarnack, Financial Director
Chris Fitz-Gerald, Corporate Communications

College Hill                                                    011 447 3030
Nicholas Williams                                           083 607 0761

Interim Report
Group Income Statement
Abridged Group Balance Sheets
Abridged Group Cash Flow Statements & Statement of Changes in Equity
Segmental Analysis
Notes to the Financial Statements
Declaration of Dividend

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