CRICKET WORLD CUP 2003

FINANCIAL REPORT

INCOME STATEMENTTO 30 APRIL 2003

(Rm)

INCOME 773

OPERATING EXPENSES (373)

OPERATING INCOME 400

CAPITAL EXPENSES (131)

NET INCOME 269

DISTRBUTION (247)

INCOME AVAILABLE FOR

DISTRIBUTION 22

Analysis of income

Rm

• FUNDING GLOBAL CRICKET CORP 649

• GATE REVENUE 81

• MERCHANDISING REVENUE 5

• HOSPITALITY RIGHTS 3

• REVENUE FROM BANQUETS 2

• GRANTS FOR OPENING CEREMONY 18

• SUNDRY GRANTS 12

• SUPPLIERS REVENUE 3

Analysis of income

• GCC FUNDING INCLUDES R57m EXCHANGE RATE GAIN• $11.9m HAS BEEN HELD BACK BY ICC PENDING THE

OUTCOME OF COMMERCIAL RIGHTS INFRINGEMENTS CLAIMED BY GCC

• OPENING CEREMONY INCLUDED GRANTS FROM SA TOURISM,THE GOVERNMENT AND NATIONAL LOTTERY

• THE GRANTS FOR FACILITY UPGRADING (LEGACY PROJECT) RECEIVED FROM GOVERNMENT AND THE PRIVATE SECTOR ARE SHOWN IN UCBSA ANNUAL REPORT

OPERATING EXPENSES

Rm

• ICC HOST AGREEMENT EXPENSES 33

• ADMINISTRATIVE EXPENSES 152

• MARKETING EXPENSES 85

• OPERATIONAL EXPENSES 102

• NET FINANCE COSTS 1

OPERATING EXPENSES

• ICC HOST EXPENSES WERE CONTRACTUAL COSTS REQUIRED BY THE ICC AND GCC FOR EXAMPLE CLEAN STADIUMS, HOSPITALITY AND TV PRODUCTION COSTS

• ADMINISTRATIVE COSTS INCLUDED ACCREDITATION COSTS FOR MEDIA, BANK GUARANTEES TO ICC, INSURANCE, LEGAL AND CONSULTING FEES, THE TICKETING SYSTEM, OFFICE COSTS AND STAFF COSTS

• MARKETING COSTS INCLUDED ADVERTISING CAMPAIGNS AND PROMOTION,PR EXPENSES, THE OPENING AND CLOSING CEREMONIES AND BRANDING AND SIGNAGE AT STADIUMS ETC

• OPERATIONAL EXPENSES WERE EXPENSES ON TEAMS TRAVEL AND ACCOMODATION, LOGISTICS AND SECURITY, VOLUNTEER PROGRAMME,MATCH FEES AND MEDIA FACILITIES

CAPITAL EXPENSES

RmBOLAND 4

BORDER 14

EASTERNS 5

EASTERN PROVINCE 21

FREE STATE 11

GAUTENG 15

GRQUALAND WEST 4

KZN 22

NORTHERNS 12

NORTH WEST 5

WESTERN PROVINCE 18

CAPITAL EXPENSES

• THIS INCLUDES STADIUM UPGRADES, GIANT TV SCREENS,SCOREBOARDS, PA SYSTEMS

• FOR SECURITY REASONS NEW ACCESS CONTROL SYSTEMS WERE INSTALLED

• TEMPORARY STANDS WERE ERECTED TO INCREASE THE CAPACITY AT CERTAIN STADIUMS

• EQUIPMENT FOR FIELD AND PITCH MAINTENANCE WAS PROVIDED TO ALL VENUES

DISTRIBUTION TO AFFILIATES

Rm

UCBSA 26

BOLAND 13

BORDER 13

EASTERNS 12

EASTERN PROVINCE 19

FREE STATE 14

GAUTENG 34

GRQUALAND WEST 12

KZN 21

NORTHERNS 25

NORTH WEST 13

WESTERN PROVINCE 32

ZIMBABWE 12

DISTRIBUTION TO AFFILIATES

• THE DISTRIBUTION TO AFFILIATES INCLUDES THE GATE MONEY RECEIVED AT THEIR VENUES AS WELL AS ONE TWELTH OF THE FINAL INCOME AFTER ALLOCATING R20m TO UCBSA

• ZIMBABWE ALSO RECEIVED ONE TWELTH

• THE INCOME THAT REMAINS UNDISTRIBUTED WILL BE DISTRIBUTED ONCE ALL POTENTIAL CLAIMS HAVE BEEN CLEARED AND ONCE THE ICC HAVE SETTLED THEIR DISPUTE WITH GCC

• WE EXPECT TO RECOVER A LARGE PORTION OF THE $11.9m DUE TO US BY THE ICC INDICATIONS ARE THAT 60% + THEREOF WILL BE PAID TO US