Group statement of changes in equity for the year ended 31 March 2006

Share capital Rm Share premium Rm Unexercised share option reserve Rm  Treasury shares reserve Rm Foreign subsidiaries translation Rm Foreign subsidiaries hedge Rm Contingency reserve Rm Non- distributable reserves Rm Retained earnings Rm Total shareholders’ funds Rm Minority interests Rm Total equity Rm Opening balance at 31 March 2004 as previously reported 4 82 273 (111) (332) (1) 4 190 1 031 1 140 107 1 247 Amended for adoption of IFRS (refer to Annexure A) — — — (151) 332 — 2 — (734) (551) (30) (581) Restated opening balance at 31 March 2004 4 82 273 (262) — (1) 6 190 297 589 77 666 Share issues 1 1 174 — — — — — — — 1 175 — 1 175 Share options costs — — 29 — — — — — — 29 — 29 Exercise of share options — 9 (9) — — — — — — — — — Forfeit of share options — — (37) — — — — — 37 — — — Net treasury shares acquired — — — (12) — — — — — (12) — (12) Movement in policyholder investments accounted for as treasury shares under IFRS — — — (10) — — — — — (10) — (10) Foreign subsidiaries exchange differences — — — — 29 — — — — 29 2 31 Cash flow hedge ***                         – raised in the year — — — — — 2 — — — 2 — 2 – realised in the year — — — — — 1 — — — 1 — 1 Transfer to contingency reserve — — — — — — 4 — (4) — — — Acquisitions, disposals and other movements in minority interests — — — — — — — — — — 24 24 Profit for the year — — — — — — — — 413 413 45 458 Distributions to shareholders — — — — — — — — (221) (221) (46) (267) At 31 March 2005 5 1 265 256 (284) 29 2 10 190 522 1 995 102 2 097 Share issues — 1 — — — — — — — 1 — 1 Share options costs — — 8 — — — — — — 8 — 8 Exercise of share options — 76 (76) — — — — — — — — — Forfeit of share options — — (23) — — — — — 23 — — — Net treasury shares acquired — — — (49) — — — — — (49) — (49) Movement in policyholder investments accounted for as treasury shares under IFRS — — — (23) — — — — — (23) — (23) Foreign subsidiaries exchange differences — — — — (110) — — — — (110) (6) (116) Cash flow hedge ***                         – raised in the year — — — — — (3) — — — (3) — (3) – realised in income statement — — — — — (2) — — — (2) — (2) Transfer to contingency reserve — — — — — — 7 — (7) — — — Acquisitions, disposals and other movements in minority interests — — — — — — — — — — (7) (7) Profit for the year — — — — — — — — 12 12 45 57 Distributions to shareholders — (298) — — — — — — — (298) (52) (350) At 31 March 2006 5 1 044 165 (356) (81) (3) 17 190 550 1 531 82 1 613

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