Grindrod Limited Group Brochure

1 ShippingtradingfreightfinancialGrindrod Limited Group BrochureGrindrod LimitedYour global shipping and freight logistics partnerYOUR GLOBAL SHIPPING AND FREIGHT LOGISTICS PARTNERC ontact details of Group companies and branchesDIRECTORY30 THEGROUP3467 PAGEG roup structureIntroductionMission & VisionDirectorate19pageFREIGHTS eafreight:: Ocean Africa Container Lines:: UnicalShips :: King & SonsAgencies:: Mitchell Cotts:: Eyethu:: Voigt ShippingGrindrod TerminalsGrindrod Tank TerminalsGrindrod Maputo Car TerminalStevedoresGrindrod :: Auto CarriersLogistics:: Furniture:: Dry Bulk / Liquid Bulk:: PerishableLCL GrindrodR hlig-GrindrodKapeleVanguardGrindrod IntermodalRRL GrindrodGrindrod Travel1920212121212223242527282930313233 34353637 OVERVIEWOF GROUPBUSINESSES9pageIntroductionIsland View ShippingUnicorn ShippingSHIPPING9111316pageTRADINGA tlas Trading & ShippingOreportCockett Marine Oil16171838pageFINANCIALG rindrod Bank38(including Unilog)

2 Contact details of Group companiesand branchesDIRECTORY41back to contents2 Grindrod Limited Group brochureGROUPSTRUCTUREA diagrammatic representationof the GroupFebruary 2009back to contents3 Grindrod Limited Group brochureINTRODUCTIONThe Grindrod Group is traded on theJohannesburg Stock Exchange and offersa worldwide range of high-quality shipping,trading, financial and freight services byland, air, and the Group s head office is in Durban (South Africa), Grindrod is represented by subsidiaries, joint ventureand associated companies in 24 other a South African listed company, Grindrodviews empowerment as an important aspect ofits corporate social responsibilities and has fora number of years been engaged in processesaimed at enhancing the scorecard.

3 It isGrindrod s intention to ensure all its South Africanoperations have a minimum BEE accreditationlevel of to contents4 Grindrod Limited Group brochureThe 4 business divisions -Shipping, Trading, FreightServices and FinancialServices, provide operatingand marketing synergieslocally and to contents5 Grindrod Limited Group brochureThe Shipping division s modern fleet of dry cargo vessels, and product & chemicaltankers trade globally under the banners ofIsland View Shipping and Unicorn Trading division trades inagricultural products, industrialraw materials and marine fuels& Services encompass a major share ofthe local ships agency business, sea freight(container feeder service around southernAfrica), and land freight logistics.

4 The landbasedoperations in southern Africa are focused ondry and liquid bulk terminals, intermodalsolutions, rail, port operations and all facets oftraditional and specialised Bank is positioned to providetailored financial solutions to corporateand private clients and Grindrod Traveloffers travel services for private andcorporate be a fast moving medium size bank witha credit rating and status that attracts stablefunding and generates an above averagereturn on capital through a mix of innovativemerchant banking and retail grow Grindrod Bank to be a meaningfulparticipant in the southern African financialservices >> FINANCIALMISSION >> FINANCIALTo be a dominant and profitable regionalfreight services provider focusing oninfrastructural >> FREIGHTTo be the first choice provider of abroad range of regional freight servicesby

5 Integrating the Group s strategicinfrastructure, assets and logistics andships agency >> FREIGHTTo provide a global commodity tradingservice in agricultural, mineral and fuelproducts through end to end solutionsby being an informed and trustedbusiness be a sustainable commodity tradingbusiness which is a respected >> TRADINGMISSION >> TRADINGTo be a significant and profitableinternational ship owner and operatorcontrolling in excess of 150 >> SHIPPINGTo provide worldwide, high qualityshipping services through the ownershipand operation of a diversified fleet ofmodern >> SHIPPING back to contents6 Grindrod Limited Group brochureMISSIONVISIONTel: +27 (0)31 333 6600 Mobile: +27 (0)83 448 2521 Fax: +27 (0)31 570 +27 (0)31 302 7111 Mobile: +27 (0)83 453 6763 Fax: +27 (0)31 302 +27 (0)31 304 1451 Mobile: +27 (0)83 304 4273 Fax: +27 (0)31 305 +27 (0)31 302 7911 Mobile: +27 (0)83 300 0820 Fax: +27 (0)31 301 +27 (0)11 233 7300 Mobile: +27 (0)82 786 2777 Fax: +27 (0)11 233 +27 (0)31 305 2751 Mobile: +27 (0)83 455 8250 Fax: +27 (0)31 304 +27 (0)31 304 1451 Mobile: +27 (0)83 252 9600 Fax: +27 (0)31 305 +27 (0)31 302 1835 Mobile: +27 (0)83 251 4971 Fax.

6 +27 (0)31 302 Grindrod executive committee, responsible for the day-to-day management of the Group ,comprises the seven executive directors and the chief executive officer for (Captain)Tim McClureGrindrod Executive Director,ShippingAlan OlivierChief Executive Officer, Grindrod LimitedJohn JonesGrindrod Executive Director,Ships AgenciesDave RennieGrindrod Executive Director,Freight ServicesLaurence Stuart-HillGrindrod Executive Director,ShippingDavid PolkinghorneGrindrod Executive Director,Financial ServicesFinancial Director, Grindrod LimitedTony StewartBrendan McIlmurrayChief Executive Officer,TradingCA (SA)(Captain)CA (SA) ; (Oxon)CA (SA) (University of London)CEOback to contents7 Grindrod Limited Group brochureIvan ClarkChairmanWalter GeachNon-Executive DirectorTony NortonNon-Executive DirectorNon-Executive DirectorMike GrovesThina SiwenduNon-Executive DirectorCA (SA) ; FIBSACA (SA) (Hons); AdamsNon-Executive DirectorNON-EXECUTIVEDIRECTORSNon-execut ive director ofGrindrod Bank Limited and IllovoSugar experience as anexecutive in president of the and commerciallawyer.

7 Corporate governanceconsultant and of Siwendu & PartnersInc., Siwendu GHP Incorporated,Abakwa Investments (Pty) Limited , Busara Trade andInvestments (Pty) Limited andnon-executive director ofGrindrod Bank. Employed by the Group in 1977 and heldvarious senior financial and exec-utivepositions in the Shipping as Group managing director/chiefexecutive officer from 1999 to chairman of Grindrod Limited on1 Sept 2007 and chairman of Grindrod BankLimited on 15 Nov director of Marine ShippingMutual Insurance Company Limited (UnitedKingdom).Past president of SA Shipowners Associationand SA branch of Institute of managing director ofthe Group . Retired from this positionin considerable experience in theshipping director of Value GroupLimited, Tiger Wheels Limited , TigerAutomotive Limited , Grindrod BankLimited and SA Corporate Real EstateFund Managers president of SA Shipowners chairman of the GrindrodLimited audit committee on 23 chartered accountant and of the High Court of South professor specializing inFinancial Accounting, Business andCorporate Law, Corporate Financeand of the University of KwaZulu-Natal.

8 Business consultant, authorand seminar chairman of SunWest,Table Bay Hotel and PromanProject of ASCH diversified business interestsin engineering, project management,leisure and (SA)CHAIRMAN back to contents8 Grindrod Limited Group brochureback to contents9 Grindrod Limited Group brochureGRINDROD LIMITEDU nicornShipping Eland IslandViewShipping Cabernet back to contents10 Grindrod Limited Group brochureGRINDROD LIMITEDThe Shipping division s modern fleet of dry cargo vessels and product & chemical tankers trade globallyunder the banners of Island View Shipping and Unicorn still trading under two brands, the businesses have consolidated into one business unit which brings together twohighly skilled and experienced teams analyse shipping and commodity markets to position optimum levels of the fleet within various ship sectors.

9 This is done to take advantage of sectors which reflect strong fundamentals, including securing ships via a combination ofdirect ownership, and long- and short-term time charters to service the division s trades. Understanding the markets has allowedthe Shipping division s team to recognize and act on opportunities such as ordering ships when markets have indicated afuture shortage of a particular class of will continue expanding the fleet with the intention of owning 51 ships by 2011. The diversified fleet of Handysize,Handymax, Panamax, Capesize bulk vessels, product & chemical tankers, container vessels and bunker tankers are built tothe highest quality and are fully double-skinned. Their advanced features have positive implications for energy conservation,safety and environmental business is highly operational, chartering in ships to complement owned ships and carrying all types of cargo in Durban, Cape Town, Richards Bay, Rotterdam, Dubai, Singapore, Tokyo and London ensure that it continues to run at the two brands individually, IVS is focused on moving dry bulk cargo such as minerals, coal, ores and agriculturalproducts, while Unicorn Shipping is focused on moving liquid chemicals and petroleum of the Shipping division s success is as a result of the long term.

10 Solid relationships built up over the past few is the foundation of this to contents11 Grindrod Limited Group brochureGRINDROD LIMITEDIVS was founded in 1976, acquired by Grindrod Limited in 1999 and has become a prominent bulk ship ownerand operator, shipping between 15 and 18 million tons per annum globally. IVSI - HandysizeLB/IVSI JV - Lauritzen BulkersIVSI and Lauritzen Bulkers (LB/IVSI JV) formeda Handysize joint venture (JV) in 2001. The LB/IVSI JV involves the merging of allresources in the 25 000 40 000 deadweightsegment. The fleet, exceeding 60 vessels isone of the largest modern Handysize fleetsin the world. This is jointly operated out ofLauritzen Bulkers head office in Copenhagensupported by offices in New York, Melbourne,Durban and Singapore giving the LB/IVSI JVa global coverage of the world markets.