South African Reserve Bank appoints Guma as Deputy Governor

7 August 2006

The President, Mr Thabo Mbeki, has informed the Governor of the South
African Reserve Bank, Mr Tito Mboweni, of the re-appointment of Dr Xolile Pallo
Guma as Deputy Governor for a period of five years.

The re-appointment is effective from 31 July 2006. Dr Guma was first
appointed as Deputy Governor in August 2001 for a period of five years.

In accordance with section 4 of the South African Reserve Bank Act, Act 90
of 1989, the Governor and three deputy governors of the South African Reserve
Bank are appointed by the President after consultation with the Minister of
Finance and the Board of Directors of the South African Reserve Bank. Both the
Minister of Finance and the Board support this appointment.

The re-appointment terminates Dr Guma’s appointment as Special Advisor to
the Governor. The Governor indicated that he is very pleased with the
re-appointment and welcomes Dr Guma back into the fold.

Further queries:
Cathy Powers
Tel: (012)313 4420

Issued by: South African Reserve Bank
7 August 2006
Source: South African Reserve Bank (http://www.reservebank.co.za)