10 October 2005 Press Release Metro Trading Company is acting responsibly We want to at the very outset dismiss the allegations of billing chaos, looting and drug dealing at the Metro Trading Company as unfounded. The march and handing over of a memorandum was done by a small group of traders to draw attention away from their failure to pay rentals as stall owners. MTC has however agreed to meet with affected traders within 7 working days to determine exactly what are their grievances. During 1 and 2 July 2005 a two day workshop was held with the leadership of all the traders associations to resolve outstanding issues and chart a way forward. It was agreed that two issues would be dealt with immediately: Subletting of stalls and the non-payment of rentals. An audit of stall owners coupled to the cancellation and signing of new contracts would be done. Action against traders who did not pay rentals after the prescribed period had elapsed. MTC in a show of good faith and allowing continuous business investment wrote off arrears to the amount of R1.7million and reduced rentals by 25%. In return traders had to pay rentals in full and consistently failing which after 60 days of non-payment defaulters stalls would be closed. The action taken today is in terms of the workshop and not malicious in any way. MTC is acting responsibly to curb an increase in arrears. Normal trading is taking place as usual and only those traders who have not paid are affected by the closure. Every trader that pays is issued with an official receipt as proof of payment. Ends Virgil James Communications Specialist Communications Telephone: 407 7226 Facsimile: 403 3494 Cell: 082 467 9415 Email: Virgilj@joburg.co.za