TRANSNET ANNOUNCES THE DISMISSAL OF MR GAMA

Mr S Gama, who held the position of Transnet Freight Rail Chief Executive, was today summarily dismissed from Transnet.

On 4 June 2010 Mr Gama was found guilty on three charges of misconduct by an independent chairperson. Evidence and argument on the appropriate sanction was led before the independent chairperson who has now found that dismissal is the appropriate sanction for each of the three charges.

Following receipt of these findings, Transnet has summarily terminated Mr Gama's employment with the Company. He was informed of this decision this afternoon.

Because of the senior position held by Mr Gama and the wide reporting of the disciplinary process in the media, this no doubt has been unsettling for many employees.

We intend to put this process firmly behind us now and to focus on the challenges that lie ahead.

Statement issued on behalf of Transnet Limited by John DIudlu, GM: Corporate and Public Affairs and Spokesman for Transnet Limited, June 29 2010

Click here to sign up to receive our free daily headline email newsletter