Media Release Thursday July 25 2002


To: News Editors/PR Wires


From: City Of Johannesburg


City agencies finances on track


City  of  Johannesburg  agencies-  Johannesburg Roads Agency (JRA) and City
Parks  have  performed  above budget during the third quarter. This emerged
during the Council meeting today.


The  agencies  combined  year to date profit before interest (PBIT) was R38
million above budget for the year to date. Cash holding was R161 million at
March, which is a positive variance of R126 million against budget.


The  JRA has a positive variance on its PBIT of R35 million for the year to
date.  This  is  primarily  due  to the positive variance of R62 million on
operating  overheads.  The  related  net  operating margin of 18% against a
budget  of 0% also indicates that there are operational efficiencies. Total
assets  and  shareholder funds of R248 million and R55 million respectively
are also higher than budgeted.


City  Parks  has posted a positive variance of R3 million PBIT for the year
to  date.  This  is the consequence of operational efficiencies, which have
resulted  in a positive operating overhead variance of R4 million. It has a
positive  cash balance of over R6 million, which is in line with the budget
and  a  R12  million  in  total  assets whilst shareholding funds are at R3
million.


ENDS.


                                              For more information contact:


                                                               Mbangwa Xaba


                                                              Media Liaison


                                                              Tel: 407 7226


                                                              Fax: 403 3494


                                                               082 467 9230


                                                     mbangwax@joburg.org.za


                                                       Or visit our website


www.joburg.org.za





Nthatisi Modingoane
Media Liaison Officer
CITY OF JOHANNESBURG
Tel: (011) 407 7354
Fax: 403 3494
Cell: 082 467 9228
E-mail: nthatisem@joburg.org.za

For more information about this wonderful City of ours, please visit our
website : www.joburg.org.za