BARLOWORLD LIMITED ANNUAL REPORT

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2003

Built on the foundation of being a Caterpillar dealer for 76 years, we supply total solutions in earthmoving equip-
ment, power systems and related equipment in Andorra, Angola, Botswana, Bulgaria, Guinéa-Bissau, Lesotho,
Malawi, Mozambique, Namibia, Portugal, São Tomé and Príncipé, Russia (Siberia), South Africa, Spain, Swaziland,
Zambia and Zimbabwe. Our core Caterpillar offering to our customers in the mining, construction, marine and
electrical power generation industries is supported by complementary brands which include: Bitelli (vibratory
compactors), Boart Longyear (underground mining equipment), Dezzi (earthmoving equipment), Hyster (lift
trucks), Ingersoll Rand (drill rigs) and Perkins (diesel engines). We also provide Amazone, Claas, Gehringhoff
and Massey Ferguson agricultural products in southern Africa, Mak and VW marine engines in Spain and Portugal
and Mitsubishi lift trucks in Portugal. Our business model is built upon sales, rentals and maintenance and repair
supported by finance to our customers in South Africa, Spain and Portugal.

We manufacture and distribute cementitious products and aggregates in South Africa, Botswana and Zimbabwe
for construction companies, retail DIY/builders merchants and concrete product manufacturers. Our eight
cement factories can produce in excess of 6 million tons of cement per annum. In South Africa, we are also
the market leader in metallurgical grade lime, limestone, burnt dolomite and related products which we
manufacture in the Northern Cape. Our customers are the pyro-metallurgical industries, mining and water
treatment industries. Our Afripack business, also based in South Africa, makes paper sacks for cement and
food product manufacturers.

We are the market leader in architectural and automotive coatings in South Africa with factories in Durban, Port
Elizabeth, Cape Town and Johannesburg. We also have operations in Botswana, Malawi, Namibia, Swaziland and
Zambia, with sales in these and other sub-Saharan African countries. Our architectural brands include the
premium Plascon range as well as Crown, Professional and Polycell. We also supply specialised coatings in
southern Africa to industrial and furniture markets. In Automotive we supply both car manufacturers and the
refinish industries with the Plascon, Spies Hecker, Standox and Du Pont brands. In Australia we are the third
largest architectural paint manufacturer with factories in Sydney, Melbourne and Brisbane. We service the DIY
and trade markets through both resellers as well as our own distribution network of stores. The Bristol brand is
distributed exclusively through this network of 83 Bristol corporate and 43 franchised stores. We currently
export into New Zealand as well as into China through 20 franchised Bristol outlets. Our brands are Bristol,
Taubmans and White Knight.

We are the world’s largest independent lift truck dealer offering our customers a full range of lift trucks and
related warehouse/handling equipment in the southeast United States, United Kingdom, Holland and Belgium.
We have represented the market-leading Hyster brand for 74 years and have leveraged the strength of the
brand by leading the market in the introduction of innovative total solutions to our manufacturing and distribution
industry customers’ materials handling needs. We distribute Freightliner trucks in Arkansas, Louisiana,
Mississippi, Texas and Tennessee, USA; Ditch Witch trenching equipment in Georgia, USA and we assemble
vacuum conveyance systems and floor maintenance equipment in the UK for global document conveyance
and >money markets. We also provide finance in support of our Freightliner and Hyster sales through our
UK-based leasing business.

We are a leading provider of comprehensive transport solutions representing the world’s leading passenger, light,
medium and heavy commercial vehicle brands through our 53 dealership network in South Africa, Botswana and
Namibia. Our offering also includes fleet services, panel shops and short-term truck hire. We are the Subaru
distributor for southern Africa. In Australia our motor dealership network is currently focused on the Melbourne
area but includes an operation in Sydney. We also have a strategic alliance with Avis Southern Africa, the
leading vehicle rental and fleet services company.

Within our Laboratory Group we manufacture an extensive range of consumables and benchtop equipment in
the United Kingdom and Spain. We also have distribution centres in the US, France, Italy, Germany and Spain.
Our customers are educational organisations, pharmaceutical and biotechnology companies and quality control
laboratories. In Melles Griot we are a market leader in lasers, optics, opto-mechanical components and
assemblies which we manufacture in California, New York State and Colorado in the USA, Cambridgeshire
UK and Japan. Our customers include semiconductor capital equipment manufacturers and the test and
measurement, biotechnology, medical and telecommunications industries.

We manufacture and sell steel tube, piping systems, flanges and fittings, couplings, galvanising in both mild and
stainless steel from our base in Gauteng, South Africa. We are the market leader in South Africa and export
both regionally and internationally. Our customers are the building and construction, mining, automotive,
agriculture, fluid handling and general engineering industries.

Our corporate operations include finance, strategic planning, property management, treasury, IT, communication,
tax, legal, risk management, company administration and internal audit. They are based at sites in South Africa,
the United Kingdom, Australia, Botswana and Namibia. Our growing logistics businesses are third and fourth party
logistics managers, providing outsourced services in the design, implementation and management of supply
chain solutions. We operate in southern Africa, Portugal, Spain, the United Kingdom and the USA providing
services to manufacturing, retail and defence industries.