Hi All.

I have pleasure in informing you that the Lufhereng Integrated Housing Development has been finally awarded to the Vuka Sechaba Raubex/Phohlisa Consortium. As per my correspondence below we had to choose the members who could best represent Retlasebetsa JV to participate in the bid. Some members responded positively and submitted some but not all the required documentation. Eventually we had to choose only two members from the original Retlasebetsa JV. Currently myself and Nhlanhla have been negotiating a stake and participation in the Vuka Sechaba Raubex/Phohlisa Consortium with the lead partner of the Vuka Sechaba comsortium because the final bid submission had to include another two empowerment partners from Raubex/Phohlisa. Now as a wayforward we need to incorporate Retlasebetsa JV so that it becomes a legal entity and we need to acquire offices and the necessary resources so that we operate professionally. We must remember that ALL current Retlasebetsa members were invited to come and participate in this consortium by myself. Now again I'm extending the same invitation to the members to become shareholders in a new incorporated Retlasebetsa Pty Ltd and to participate in the roll out of the Lufhereng Integrated Housing Development. This project is similar to the Fleurhoff Integrated Housing Development on the Main Reef Road towards Joburg, near Roberstville. I would recommend that you visit this project to get a good sense of what Lufhereng will look like. Lufhereng will be 10 times bigger than Fleurhoff. Unfortunately we cannot in all fairness expect someone else to carry Retlasebetsa's cost and as business people you have to show commitment and contribute to these costs. Lufhereng project is a R2.2B project and we are negotiating with Vuka Sechaba for Retlasebetsa to participate in 15% of the project. The Lufhereng project is a 10yr project. It is split into 14 extensions. It has 24000 Integarated Housing units split into 50% RDP, 30% Rental stock and 20% Bonded housing, plus schools, creches, municipal offices and sports amenities in each extension. The first project is Ext 5 and the civils work starts mid March. Ext 3 will then follow in May. Myself and Nhlanhla have incurred costs during the past two years towards the succses of the Vuka Sechaba bid and these costs will be discussed by the new board of Retlasebetsa Pty Ltd. Now the offer to participate in the new Retlasebetsa is this:

1. A minimum of 5% shareholding for R100 000. 2. A 10% shareholding entitles one to appoint one director to the Board. This offer will remain open for seven 7 days and closes on the 7th March 2014. These shares belong to the founders of Retlasebetsa and an invitation to the previous members of Retlasebetsa is extended in good faith to those who appreciate the effort behind this project. After the closing date only those who have paid will be invited to a shareholders meeting where a new board of directors will be appointed and strategies discussed on the participation in the Lufhereng project. Kind rgds. Molefe