IMMEDIATE RELEASE
20 MAY 2011

The Estate Agency Affairs Board ("the EAAB") wishes to advise as follows:

The EAAB instituted proceedings against CSTM in the South Gauteng High Court on 14 April 2011 under case number 15402/2011.

The matter was heard on 20 April 2011 when an interim agreement that had been concluded between the parties was made an order of court. A copy of the settlement agreement may be accessed from the EAAB website at www.eaab.org.za.

In accordance with the provisions of the interim agreement the EAAB proceeded to conduct further investigations into CSTM.

The EAAB is presently not satisfied with the results of these investigations or, indeed, that the affairs of CSTM are in order and compliant with relevant legislative requirements.

The EAAB has, in the circumstances, been obliged to report the strong suspicion of criminal wrongdoing to the South African Police Service as a result of which, it is believed, a search and seizure warrant was executed today and has, in addition, launched further urgent proceedings out of the Gauteng South High Court seeking interdictory relief against CSTM. It is likely that this application will be heard by the Gauteng South High Court on Tuesday, 24 May 2011 after which the EAAB should be in a position to comment further on this matter.

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For all media enquiries:

Marketing & Communications Dept                                   
Estate Agency Affairs Board                                                   
Tel: 011 731 5600 or margie@eaab.org.za