Further to the earlier media release, Golden Arrow is pleased to confirm that a settlement was reached this afternoon with the Western Cape Provincial Department of Transport, the National Department of Transport and the National Department of Finance. A court order was taken to oblige the state to pay the amounts due to Golden Arrow in terms of the interim contract with the Department of Transport.

Issued by: B W Gie, Executive Director

Media enquiries: Vuyisile Mdoda

(021) 507 8819 or 083 279 4818

Date: 15 January 2009 103 Bofors Circle Epping Industria PO Box 1795 Cape Town 8000 Tel. 021 5078800 email: information@gabs.co.za Website: http://www.gabs.co.za