Tracker acquired - Press Release

							Stonemill O ce Park           PO Box 2492             Tel +27(0)11 380 0300
340 Republic Road             Cresta 2118             Fax +27(0)11 215 8900
Darrenwood 2194




Tracker acquired in R3.9bn deal

Johannesburg, 3 October 2011 - A R3.9billion buy-out has resulted in a change of own-
ership structure at Tracker, South Africa’s largest vehicle tracking company, and the
entry of pan-emerging markets investor Actis.

The transaction, which was announced today, sees Remgro dispose of its interest in
Tracker to Actis while FirstRand restructures its investment to include RMB. The Mine-
workers Investment Company (‘MIC’) will increase its stake in the business, thereby
improving the BEE credentials of the business.

“Everything we do at Tracker is underpinned by the principle that our work can make a
real di erence to quality of life in South Africa,” commented Tracker CEO, Alan
Hutcheson. “Whether it is helping to track and recover assets, combating crime or deliv-
ering services that enable people and organisations to be more e cient, the creation of
value is critical to our work. Today’s announcement re ects the con dence this consor-
tium has in both our approach and our track record.”

John van Wyk, Co-Head of Africa at Actis said: “Tracker’s committed management team
has built a powerful brand known for high quality customer service, CSR and a strong,
di erentiated internal culture. We are looking forward to reinforcing Tracker’s position
as the market leading vehicle tracking and monitoring company in South Africa.”

Tracker is known for its vehicle recovery successes – it has achieved approximately
55,000 vehicle recoveries and over 10,000 arrests since its establishment in 1996, more
than any other tracking company in South Africa. It is utilised by the South African
Police Service and has increasingly diversi ed into new technologies; the “track and
Tracker” element is now being strongly complemented by the provision and applica-
tion of intelligent data.

As an example, this data opens up an opportunity for car insurance companies,
enabling them to o er usage-based insurance, where rates can be determined by
driver behaviour (speed, distance travelled) and actual performance on the road. This
results in fairer premiums for law-abiding, fuel-conscious drivers.

“In a dynamic industry, Tracker has demonstrated a consistent ability to innovate and
provide relevant solutions to its customers. These qualities resonate strongly with RMB
Ventures,” says Eutychus Mbuthia, co-head of RMB Ventures.




Directors: DA Hutcheson A Ackerman M du Preez         N Kolbe   L Mynhardt   M Kabi   M Bomela   A Aitken   E Mbuthia   J Newbury (chairman)
Tracker Network (Pty) Ltd. Reg. No. 199 5/005497/07
Stonemill O ce Park           PO Box 2492             Tel +27(0)11 380 0300
340 Republic Road             Cresta 2118             Fax +27(0)11 215 8900
Darrenwood 2194




Existing shareholder MIC is increasing its stake in Tracker. MIC strategy director Mary
Bomela explained: “The transaction enabled MIC to consolidate our position in a strong,
well-managed business that has proved good returns since we rst invested in the com-
pany in 2001.” She continued: “Changes to the ownership structure were an opportunity
to extract value while expressing our con dence in the future of an industry leader and
its management team. For more than 10 years, Tracker has been a value-enhancing
component of MIC’s diversi ed investment portfolio. We are delighted to remain
invested in Tracker and to strengthen our Tracker connection.”

Commenting on the decision to dispose of its interest in Tracker, Jannie Durand, Chief
Investment O cer of Remgro, said: “VenFin, which is now part of Remgro, was one of
the founding shareholders in Tracker in 1996 and our commitment to this investment
over the years has delivered signi cant returns to our shareholders. We are delighted to
see the company enter its next phase of development with the committed support of
new and existing shareholders and Tracker’s very capable management team.”

About Actis

Actis invests exclusively in the emerging markets with a growing portfolio of invest-
ments in Asia, Africa and Latin America; it currently has US$4.6bn funds under manage-
ment. Combining the expertise of over 100 investment professionals on the ground in
nine countries, Actis identi es investment opportunities in three areas: private equity,
energy and real estate.

In March 2011, Actis was named African Private Equity Fund of the Year by PEI Magazine
for the fourth year in a row. Actis is proud to actively and positively grow the value of
those companies in which it invests and in so doing contribute to broader society.
www.act.is

About RMB Ventures

RMB Ventures is a private equity company within the FirstRand Group. RMB focuses on
partnering with experienced management teams to provide equity and debt funding
for medium to large buyouts of established businesses with established track records.
The team also provides equity funding to facilitate growth organically or by acquisition.
RMB Ventures has long standing relationships with a number of BEE investors with
whom they partner to provide solutions for a wide variety of transactions.




Directors: DA Hutcheson A Ackerman M du Preez         N Kolbe   L Mynhardt   M Kabi   M Bomela   A Aitken   E Mbuthia   J Newbury (chairman)
Tracker Network (Pty) Ltd. Reg. No. 199 5/005497/07
Stonemill O ce Park           PO Box 2492             Tel +27(0)11 380 0300
340 Republic Road             Cresta 2118             Fax +27(0)11 215 8900
Darrenwood 2194




RMB Ventures has participated in numerous large private equity transactions some of
which include Life Healthcare, Actom, Idwala, Stocks & Stocks and RTT Group.
www.rmb.co.za

About MIC

The Mineworker’s Investment Company (MIC) is a 100% broad based BEE investment
company established in 1995 by the Mineworker’s Investment Trust (MIT) to create a
sustainable asset base for the bene t of mine, energy and construction workers and
their dependents.

Since inception, the MIC has disbursed over R368 million directly to MIT, which has in
turn advanced the money to fund its social development programmes in the areas of
education and micro-enterprise development.

The MIC’s investment portfolio is spread across a variety of industry sectors including
 nancial services, leisure, industrial and media. Its portfolio is valued at R2.2 billion.
www.mic.co.za


Actis: Gillian Findlay
+27 82 330 1477
Gillian@inzalo.com

Tracker: Gareth Crocker
+27 82 787 8757
gcrocker@tracker.co.za

RMB Ventures: Joandra Griesel
+27 11 282 1748
Joandra.griesel@rmb.co.za

MIC: Mbali Msimango
+27 11 704 6618
mbali@hmcseswa.co.za




Directors: DA Hutcheson A Ackerman M du Preez         N Kolbe   L Mynhardt   M Kabi   M Bomela   A Aitken   E Mbuthia   J Newbury (chairman)
Tracker Network (Pty) Ltd. Reg. No. 199 5/005497/07