NOTES TO THE CONDENSED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2004

1.	These consolidated condensed financial statements are prepared in accordance with South African Statements of Generally Accepted Accounting Practice. The accounting policies used in the preparation of the reviewed financial statements are consistent with those used in the annual financial statements for the year ended 31 December 2003.
				REVIEWED	AUDITED
	R MILLION			2004	2003
2.	Revenue
	Invoiced sales - goods and services			60,1	70,5
	Leasing income			1 210,3	1 117,5
	Management fees			193,2	232,3
	Finance income			6,9	109,5
				1 470,5	1 529,8
	Discontinuing operation - container manufacturing			43,1	56,5
				1 513,6	1 586,3
	Realised and unrealised exchange differences			(393,7)	(854,5)
				1 119,9	731,8
3.	Discontinuing operations - container manufacturing
	Operating profit/(loss)			7,2	(11,9)
	Interest expense			0,4	-
	Profit/(Loss) before taxation			6,8	(11,9)
	Income tax			7,0	(3,6)
	Net loss after taxation			(0,2)	(8,3)
4.	Exceptional items
	Premium paid on acquisition of shares from outside shareholders			-	(5,1)
	Goodwill written off pursuant to change of interest in subsidiary			(0,1 )	(1,5)
	(Loss)/Gain on sale of investment properties			(2,2)	0,6
	Net gain on dilution of interest in subsidiaries			9,2	78,9
	Loss on sale of interest in associate			(37,2)	-
	Impairment of available for sale investment			(8,5)	-
				(38,8)	72,9
5.	Headline earnings/(loss)
	Net profit/(loss) for the year			59,1	(98,5)
	Amortisation of goodwill in respect of associate company			0,9	3,6
	Amortisation of goodwill in respect of subsidiary			2,1	3,6
	Impairment of goodwill			3,5	0,8
	(Gain)/Loss on sale of property, plant and equipment			(9,0)	0,2
	Exceptional items (Note 4)			38,8	(72,9)
	Discontinuing operations			0,2	(1,0)
	Minority share of exceptional items			(0,6)	(1,5)
	Headline earnings/(loss)			95,0	(165,7)
	Weighted average number of shares in issue (million)			153,8	153,2
	Headline earnings/(loss) per share (cents)			61,8	(108,2)
6.	Segmental reporting
	Revenue
	Containers - sales and finance (including exchange differences)			(387,3)	(752,5)
	Containers - owning, leasing and management			1 103,6	1 097,1
	Mobile asset management services			358,9	327,5
	Other			1,6	3,2
				1 076,8	675,3
	Discontinuing operations			43,1	56,5
				1 119,9	731,8
	Profit/(Loss) from operating activities
	Containers - sales and finance			(82,6)	(433,6)
	Containers - owning, leasing and management			538,6	465,5
	Mobile asset management services			(12,7)	(16,3)
	Other			7,6	61,2
				450,9	76,8
	Discontinuing operations			7,2	(11,9)
				458,1	64,9
7.	Current assets
	Inventories			9,3	50,8
	Accounts receivable			485,0	459,9
	Current portion of long-term loans			-	8,5
	Cash and cash equivalents			439,7	330,5
	Restricted cash balances			156,8	47,7
	Unrestricted cash balances			282,9	282,8
				934,0	849,7
8.	Current liabilities
	Accounts payable			752,4	300,1
	Provisions			42,4	75,8
	Taxation			37,9	64,2
	Current portion of interest-bearing borrowings			347,5	432,1
	Deferred income			23,1	27,4
				1 203,3	899,6

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