MEDIA RELEASE National Empowerment Fund announces R50m SunSpace deal

The latest in a series of major investments in strategic industries

Leading empowerment agency, the National Empowerment Fund (NEF), has announced a R50m deal to finance an ambitious growth and development phase for Sun Space and Information Systems (Pty) Ltd (SunSpace), South Africas only manufacturer of satellite systems, and one of only two in Africa. The company, which developed out of the SUNSAT programme at the University of Stellenbosch, manufactures high-value small- and medium-sized satellite systems for the local and international aerospace market. The deal, which is in line with the NEFs mandate of fostering and supporting broad-based black economic empowerment (BB-BBE), is one of a series of recent investments aimed at rapidly increasing black participation in strategic industries and enterprises. Real empowerment is multi-faceted, says Nonfuneko Majaja, Chief Director of the Department of Trade and Industry (dti), and has to be built on a range of initiatives focused on different objectives. Having started out by financing black-owned small and medium enterprises, and by supporting some of the countrys largest and most innovative empowerment share schemes, the NEF is now extending its focus to include promoting ownership of and executive participation in strategic industries. SunSpace, which operates from Stellenbosch, provides accessible, affordable, valuable and unique solutions to meet unique needs. Staffed by 57 people, including the team that designed the first locallydeveloped SUNSAT satellite to be launched by NASA in 1999, the company designs and develops highperformance satellites and payloads, as well as related subsystems, support equipment and ground applications. The new deal, which will see the NEF investing directly into the BEE consortium that owns 25% of the companys equity, is aimed at increasing capacity and improving competitiveness in the rapidly-developing aerospace market. Space technology is no longer the exclusive preserve of the developed economies of the north. says Majaja. South Africa is taking up its rightful place in this and other advanced technology industries, and is

proving to be an innovative and energetic player. SunSpace, in particular, aspires to be a role model for empowering and developing people from all backgrounds in the fields of science and technology. The company specifically aims to benefit from the skills and knowledge capital of the growing pool of black professionals in the country by transforming ownership, management and the workforce. This enjoys top priority, together with other key business objectives, and has the enthusiastic support of both directors and shareholders. The NEF is proud to be involved in such an extraordinary venture, concludes Majaja, and, as we celebrate the 40th anniversary of the historic moon landing, we know this is a giant leap for South Africa.

For further information about Sun Space and Information Systems (SunSpace), click through to www.sunspace.co.za. For further information on the NEF and on its empowerment initiatives, please visit www.nefcorp.co.za.

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Further information /

About the National Empowerment Fund The NEF was established by the National Empowerment Fund Act No 105 of 1998 in order to promote

and facilitate black economic equality and transformation. Its mandate and mission is to be a catalyst for Broad-Based Black Economic Empowerment (BB-BEE) in South Africa. entrepreneurs, as well as to promote savings and investment schemes for black people and, in so doing, to develop an understanding of equity ownership and a culture of savings amongst its beneficiaries. on providing financing and support for black empowered business and entrepreneurs.

The objectives of the NEF are to finance and support business enterprises owned and managed by black Until the Asonge Share Scheme was launched in June 2007, the activities of the NEF centred principally The establishment and promotion of a savings and investment culture amongst all black people,

supported by clear and accessible savings and investment products, is key to assisting South Africans to move to full participation in the first economy.

For Media Enquiries

NEF Moemise Motsepe (Marketing & Communications Manager) 083 533 4114 / 011 305-8127 motsepem@nefcorp.co.za / www.nefcorp.co.za Chillibush Communications [Insert contact names and details]