The Group has acquired an initial 80% shareholding in Oconbrick (Pty) Limited with effect
from 1 July 2005 for a consideration of R96 million. It is planned that this company together
with Harvey Roofing will form the core of the Group’s strategy to serve the developing affordable
housing market in South Africa.

Murray & Roberts has sought to acquire the entire shareholding of Concor Limited in terms of
Section 311 (alternatively Section 440 k) of the Companies Act. Negotiations are continuing and
shareholders will be kept informed of progress. Black Economic Empowerment Further to the cautionary published through SENS on 28 July 2005, the directors have approved
a proposal for submission to shareholders in general meeting, to repurchase 10% of the Group’s
shares using its own resources, with the specific intent to create the basis for broad-based black
economic empowerment ownership in the equity of the Group. Details of this proposal are included
in a separate announcement to shareholders of today’s date. Acquisition and disposal (continued) Prospects The Group’s primary leadership focus over the past year has been to stabilise and resource existing
operations in preparation for a period of sustainable market growth; to build a quality major project
order book across all business sectors; and to convert surplus balance sheet cash and gearing
capacity into new areas of business potential within the core strategic focus of the group.

The Group continues to seek involvement in numerous major project opportunities available in
Middle East, Southeast Asia and Southern Africa. These include mining and construction projects,
power generation facilities, transport systems and minerals processing investments.

The demand for construction materials in South Africa is expected to remain steady through the
year ahead, with some growth expected as new major projects get started. It is encouraging that
cement producers are well advanced with increased production plans.

Further expansion is planned for power generation capacity in South Africa and the regional
transport infrastructure remains in need of significant upgrade to meet economic development
targets. These offer increased public private partnership opportunity.

With a lower interest rate regime seemingly well established and inflation under control, in spite of
higher energy prices, the Group is positive that domestic market conditions will continue to improve
during the year ahead. Growth will primarily be driven by government investment into infrastructure
and by direct investment into industry, commercial and residential accommodation.

International and natural resources markets of interest to the Group are expected to grow in line
with continued economic activity in South and Southeast Asia and demand from China. Investment
in Middle East is driven primarily by energy, with increasing attention to the benefits of economic
diversification as the region seeks to eradicate its high levels of unemployment through the creation
of an estimated 80 million jobs over the next 20 years.

The Directors are of the view that the next few years will be positive to the Group and that there will
be real growth in headline earnings in the year to 30 June 2006.