AVENG LIMITED - Aveng Group Statement4 Feb 2013
AEG 201302040053A
Aveng Group Statement

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng Group”. “Aveng” or "Group")


AVENG GROUP STATEMENT


In September 2009 the Competition Commission launched a broad investigation into
anti-competitive behaviour within the South African construction sector. In February
2011 the Commission invited companies to engage in a “fast track settlement” of
contraventions of the Competition Act. The Aveng Group has proactively engaged
and cooperated with the Competition Commission and made applications for
leniency in terms of this fast track settlement process. This matter is pending in the
hands of the Commission. Aveng’s view is that the investigation must be completed
as soon as possible in order for the industry to move forward. Until the fast track
process is complete, it would not be appropriate to comment further. Similarly, it is
not appropriate to comment on pending investigations by the Commission or other
authorities.

The current management of the Aveng Group has taken rigorous action to root out
historic anti-competitive conduct. Aveng introduced many initiatives and provided
channels for employees and former employees to come forward and make full
disclosure regarding any unlawful conduct. This information was forwarded to the
appropriate authorities.

Aveng Group CEO, Roger Jardine:
“The board of the Aveng Group has worked diligently over a number of years to
eradicate anti-competitive and unethical practices, and has vigorously investigated
instances where it is aware of breaches and potential irregularities. Part of the Aveng
Group investigations in the fast track process included contacting former Aveng
employees and executives. In its SENS announcement of September 2012 Aveng
advised the market that a provision had been raised for a potential penalty by the
Competition authorities. As we have not concluded the settlement process, this
provision remains unchanged at this time. We will continue to keep all stakeholders
informed and are determined to ensure that our business runs ethically. ”


04 February 2013


Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

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