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Cash Flow Statements

for the year ended December 31, 2007

	R000
				Group		Company
			Note	2007	2006	2007	2006
	Cash flows from operating activities
	Cash generated from operations		24	194,863	220,046	233,867	159,406
	Interest received			209,739	164,779	152,208	128,948
	Interest paid			(10,564)	–	(10,564)	–
	Dividends received			26,420	37,445	36,207	34,874
	Net movement in working capital		25	14,085	146,711	(123,680)	93,289
	Cash generated from operating activities			434,543	568,981	288,038	416,517
	Taxation paid		26	(167,764)	(70,706)	(139,237)	(65,296)
	Dividends paid			(94,155)	(99,873)	(84,039)	(99,873)
	Net cash flows from operating activities			172,624	398,402	64,762	251,348
	Cash flows (utilised by)/from
	investing activities
	Acquisitions:			(715,364)	(435,479)	(713,494)	(429,858)
	Investment property				(426)	–	–
	Financial assets at fair value through
	income			(615,808)	(369,128)	(615,808)	(369,128)
	Financial assets – available-for-sale			(78,448)	(34,975)	(78,448)	(33,272)
	Property and equipment			(21,108)	(30,950)	(19,238)	(27,458)
	Proceeds on disposal:			647,423	500,451	640,111	497,853
	Investment property			4,138	–	–	–
	Financial assets at fair value through
	income			536,179	400,140	534,008	400,140
	Financial assets – available-for-sale			100,628	95,391	100,191	92,819
	Property and equipment			6,478	4,920	5,912	4,894
	Repayment of mortgages and loans
	advanced			(3,347)	1,412	5,995	1,969
	Net cash flows from investing activities			(71,288)	66,384	(67,388)	69,964
	Net increase/(decrease) in cash and cash
	equivalents			101,366	464,786	(2,626)	321,312
	Cash and cash equivalents at beginning
	of year			1,482,314	1,017,528	709,198	387,886
	Cash and cash equivalents at
	end of year		13	1,583,650	1,482,314	706,572	709,198

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