8 April 2004 Press Release Council approves placement of Joburg Bond The Johannesburg City Council on Wednesday unanimously approved the placement of a municipal bond, which was over-subscribed by 50 percent, a development, which the Council views as an affirmation of investor's confidence in the City. During the Council sitting the Executive Mayor Amos Masondo praised the council officials who worked on the issue for a job well done after the bond was successfully placed on Tuesday. The funding from the bond will enable the City of Johannesburg to meet its demands to expand and maintain the city's infrastructure and greatly enhance its capacity to deliver service. The achievement united all nine political parties who welcomed the bond issue, giving it the necessary endorsement. Joburg is led by the ANC and its main opposition is the Democratic Alliance. Other parties include the New National Party, Inkatha Freedom Party, Pan Africanist Congress, African Christian Democratic Party, Azanian Peoples' Organisation, Freedom Front and the Independent. Indications from the market is that the bond issue, the first by a municipality since the end of Apartheid, is good news for the City Johannesburg that may also encourage other municipalities to follow suit. Councilor Masondo has assured residents that the City of Johannesburg will continue to strive to improve the lives of all its citizens. ENDS 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