KELLY LISTED ON JSE

Johannesburg, 3 April 2007 - Comprehensive employment services provider the Kelly Group was today listed on the JSE’s main board in the Support Services - Business Training and Employment Agencies sector under the abbreviated name “Kelly”.

This follows a substantially oversubscribed private placing in which a range of institutional and retail investors took up 38 605 544 Kelly Group shares at R9 per share for a total value of R347.4 million. Furthermore, the Brait Private Equity Funds have agreed to sell, in terms of a separate agreement, an additional 3 900 000 Kelly Group shares at the placement price to existing directors and management of the Kelly Group. After the listing the company’s largest shareholders and their holdings are expected to be Brait Private Equity Funds (20.9%); Safika Group (18.8%); management, staff, directors and Frontline vendors (24.2%); Coronation Asset Managers (4.4%); Old Mutual (4.2%); Stanlib (4.0%) and RMB Asset Management (3.1%). Brait Private Equity Funds are finalising the sale of a further 10.0% to a new broad based empowerment group, which includes Safika.

Speaking at the JSE this morning, Kelly Group chief executive Grenville Wilson said since the business was established in the Sixties its name had become virtually synonymous with staffing services in South Africa. After going through a number of changes it had emerged in recent years as a clearly focused and strongly performing player in a high-growth market providing the comprehensive employment services and outsource solutions urgently required by our buoyant economy.

“While we were putting in place our strategy of leveraging brand power and niche specialisation, we have also been nurturing our distinctive corporate culture - a culture which is results-driven but based on the values of honesty, empathy, ubuntu, passion and teamwork. We’re a business that is essentially for and about people, which is why we place so much emphasis on the human factor. Competitors can replicate the tangible elements of our operations, but not the true difference we can and will achieve at the personal interface by listening, partnering and delivering on our promises,” Wilson said.