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SUBSIDY PAYMENTS

03 Feb Transport

Golden Arrow can confirm that the Western Cape Provincial Department of Transport has deposited an amount of R94.5m into its bank account pursuant to Court Orders previously obtained.
The company is grateful that this has been done and in so doing averted a crisis in the ongoing delivery of public passenger services.

It is not clear at this stage what steps the Province will take to ensure prompt payment of future contractual commitments.

Issued by: Vuyisile Mdoda, Corporate Relations Manager

Media enquiries: Vuyisile Mdoda

(021) 507 8801 or 083 279 4818

Date: 3 February 2009