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                                                                    EXHIBIT 10.6

                             BURLINGTON/SUN COURIERS
                            EXECUTIVE PROVIDENT FUND

                                      INDEX

<TABLE>
<CAPTION>
                                                                            PAGE
                                                                            ----
<S>                                                                         <C>
RULE 1 --    GENERAL.....................................................    01
RULE 2 --    DEFINITIONS.................................................    02
RULE 3 --    COMMITTEE OF MANAGEMENT.....................................    06
RULE 4 --    ADMINISTRATOR...............................................    09
RULE 5 --    MEMBERSHIP..................................................    10
RULE 6 --    ACCOUNTS AND VALUATIONS.....................................    11
RULE 7 --    TRANSFERS AND AMALGAMATIONS.................................    12
RULE 8 --    CONTRIBUTIONS...............................................    13
RULE 9 --    RETIREMENT BENEFITS.........................................    15
RULE 10 --   PAYMENT OF PENSIONS.........................................    17
RULE 11 --   DEATH BENEFITS..............................................    19
RULE 12 --   WITHDRAWAL BENEFITS.........................................    19
RULE 13 --   FINANCIAL PROVISIONS........................................    19
RULE 14 --   RECONSTRUCTION, TERMINATION AND PARTIAL TERMINATION
             OF THE FUND.................................................    21
RULE 15 --   GENERAL PROVISIONS..........................................    24
ANNEXURE I...............................................................    29
ANNEXURE II..............................................................    30
</TABLE>

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                                                                        Page - 1

                             BURLINGTON/SUN COURIERS
                            EXECUTIVE PROVIDENT FUND

RULE 1 -- GENERAL

With effect 1 March 1993 the Burlington/Sun Couriers Executive Provident Fund
will come into existence, and operate in terms of these Rules.

The object of the Fund is to provide benefits for Employees or former Employees
of the Employers upon their retirement on account of age or ill-health, or for
dependents of Employees or former Employees of the Employers in accordance with
the provisions of these Rules.

The Registered Office of the Fund shall be at CBC House, 259-261 Surrey Avenue,
Ferndale, Randburg, 2194 and all payments due to or by the Fund shall be made at
the Registered Office of the Fund in the currency of the Republic of South
Africa or elsewhere, on such terms and in such manner as the Committee,
appointed in terms of these Rules shall decide.

The Fund is an independent body and legal person separate from its Members and
is the lawful owner of its property, competent to sue and be sued in law and to
acquire rights and assume obligations in its own name.

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                                                                        Page - 2

RULE 2 -- DEFINITIONS

In these Rules, where the context so admits, words defined in the Act shall have
the meaning defined therein, the masculine gender shall include the feminine,
words signifying the singular number shall include the plural and vice versa and
the following expressions shall have the following meanings:

"ACT" shall mean the Pension Funds Act 1956 (Act No.24 of 1956) and the
regulations framed thereunder, as amended.

"ACTUARIAL RESERVE VALUE" shall mean the accrued actuarial liability with
allowance for future salary increases, as determined by the Valuator.

"ADMINISTRATOR" shall mean the corporate body appointed by the Committee to
administer the Fund in terms of these Rules.

"APPROVED FUND" shall mean a fund approved by the Commissioner for Inland
Revenue and registered by the Registrar as a pension, provident or retirement
annuity fund.

"AUDITOR" shall mean an auditor or a firm of auditors registered under the
Public Accountants and Auditors Act (Act No.80 of 1991), appointed in terms of
these Rules.

"BENEFICIARY" shall mean a person other than a Member who becomes entitled to a
benefit in terms of these Rules..

"COMMENCEMENT DATE" shall mean 1 March 1993.

"COMMITTEE" shall mean the Committee of Management appointed in terms of these
Rules.

"DEPENDANT" in relation to a Member, means

     (a)  a person in respect of whom the Member is legally liable for
          maintenance;

     (b)  a person in respect of whom the Member is not legally liable for
          maintenance, if such person;

          (i)  was, in the opinion of the Committee, upon the death of a Member
               in fact dependent on the Member for maintenance;

          (ii) in the Spouse of the Member, including a party to a customary
               union according to Black law and custom or to a union recognised
               as a marriage under the tenets of any Asiatic religion;

     (c)  a person in respect of whom the Member would have become legally
          liable for maintenance, had the Member not died;

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                                                                        Page - 3

RULE 2 - (continued)

"DEPOSIT ADMINISTRATION POLICY" shall have the meaning ascribed to it by the
Insurer, be approved as a policy of assurance by the Registrar and issued by the
Insurer in the name of the Fund. Such policy shall contain all of the provisions
set out in Annexure I to these Rules.

"ELIGIBLE CHILD" shall mean a child, legally adopted child, or stepchild of a
Member, provided that such child is unmarried, is under the age of 18 years, and
is dependent upon the Member at the time of the Members' death, and shall
include a child whom the Committee consider would have been dependent on the
Member, had the Member not died. Where the Committee so directs, the age limit
of 18 years may be extended up to age 21 years where such child is a full-time
student.

"EMPLOYEE" shall mean a person in the employ of, and who has been appointed to
the permanent staff of an Employer, who is designated as an Executive by the
Principal Employer.

"EMPLOYER" shall mean the Principal Employer and such subsidiary or associated
companies and undertakings whose participation in the Fund is agreed by the
Principal Employer. In relation to a Member or former Member, "Employer" shall
mean that particular Employer by whom the Member is for the time being employed
or by whom the former Member was last employed.

"ENTRY DATE" shall, subject to Rule 5 headed Membership, mean in relation to
Employees of any particular Employer the date on which such Employees commenced
to participate in the Fund.

"FINAL PENSIONABLE SALARY" shall mean the average of the Pensionable Salaries of
the Member declared during the 36 months of Service prior to the date of his
retirement.

"FUND" shall mean the BURLINGTON/SUN COURIERS EXECUTIVE PROVIDENT FUND.

"FUND YEAR" shall mean the period 1 March 1993 - 28 February 1994 and each
following twelve-month period from 1 March 1994.

"GROUP POLICY OF ASSURANCE" shall mean the policy or policies issued in the name
of the Fund by an insurer or Insurers to provide life assurance benefits for
Members.

"INSURER" shall mean an insurance company registered in terms of the Insurance
Act 1943 as amended; appointed from time to time by the Committee to underwrite
benefits in accordance with the provisions of these Rules.

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                                                                        Page - 4

RULE 2 - (continued)

"INTEREST" shall mean a fair rate of return as determined by the Valuator.

"MEMBER" shall mean an Employee who has satisfied the eligibility conditions of
-the Fund and who has been entered in the records of Membership of the Fund
(which latter provisions shall include an Employee who has not been entered in
such records provided such entry is made as soon as is practicable following his
becoming eligible).

"NORMAL RETIREMENT AGE" shall mean the age of 60 years.

"NORMAL RETIREMENT DATE" shall mean the last day of the month in which the
Member attains Normal Retirement Age.

"OLD FUND" shall mean Burlington/Sun Couriers Pension Fund:

"PENSION" shall mean the monthly amount payable to a retired Member, Spouse or
Eligible Child, in terms of these Rules.

"PENSIONABLE SALARY" shall mean the Member's basic annual salary together with
such other amounts as the Employer may determine from time to time and declare
to the Fund.

"PENSIONABLE SERVICE" shall mean the number of years and months of Membership of
the Fund and Old Fund together with any additional Service recognised as being
pensionable in terms of the Rules of any former Fund of the Employer.

A break in Service condoned by an Employer shall not constitute a break in
Pensionable Service.

"PENSIONER" shall mean a Member who has become entitled to, and is in receipt of
a Pension.

"PRINCIPAL EMPLOYER" shall mean PYRAMID FREIGHT (PTY) LTD AND SUN COURIERS (PTY)
LTD.

"REGISTRAR" shall mean the Registrar of Pension Funds in South Africa.

"REVIEW DATE" shall mean 1 March 1993 and 1 March in each subsequent year.

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                                                                        Page - 5

RULE 2 - (continued)

"RULES" shall mean these revised Rules as registered and amended from time to
time.

"SERVICE" shall mean full-time continuous service in the employ of an Employer
or Employers.

"SPOUSE" shall mean the legal wife or husband of a Member, or Pensioner, as the
case may be, provided that where custom so permits, if a Pensioner has more than
one wife, the Committee may designate more than one Spouse, in which case, the
total benefit designated in Rules 11.2 and 11.3 shall be shared among the
Spouses in such portions and in such manner as the Committee in its sole
discretion shall decide.

"VALUATOR" shall mean a Fellow of the Faculty of Actuaries or a Fellow of the
Institute of Actuaries, and for the purpose of these Rules shall mean the
particular actuary or firm of actuaries appointed by the Committee.

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                                                                        Page - 6

RULE 3 -- COMMITTEE OF MANAGEMENT

3.1  The affairs of the Fund shall be controlled by a Committee of Management,
     the members of which shall be appointed by the Board of Directors of the
     Principal Employer and which shall consist of at least three Employees
     occupying a senior management position on the staff of the Principal
     Employer. The maximum number of committee Members shall be four.

     The appointment of each member of the Committee of Management shall be
     approved by the Board of Directors of the Principal Employer. The Board of
     Directors of the Principal Employer shall appoint the chairman from the
     members of the Committee of Management.

     Subject to the provisions of the Act the Committee of Management shall have
     the power to carry out the objects and purposes of the Fund in accordance
     with the Rules and without detracting from the generality of this provision
     shall have the following powers:

     (a)  to receive, administer and apply the moneys of the Fund;

     (b)  to appoint and enter into contracts with an Insurer to provide the
          benefits in terms of the Rules,

     (c)  to appoint and enter into contracts with the Administrator and to
          delegate to a Administrator such of its powers and duties in terms of
          the Rules as it deems fit;

     (d)  with the agreement of the Principal Employer, in the name of the Fund,
          to enter into and sign any contracts or documents and to institute,
          conduct, defend, compound or abandon any legal proceedings by or
          against the Fund;

     (e)  subject to the approval of the Registrar, to appoint a Valuator to the
          Fund;

     (f)  subject to the approval of the Registrar, to appoint an Auditor for
          one year at a time;

     (g)  subject to the requirements of the Act, to make by-laws not
          inconsistent with the provisions of the Rules prescribing the manner
          and form in which the general administration of the Fund shall be
          conducted and the rights and options of Members and other
          beneficiaries in terms of the Rules shall be exercised or made;

     (h)  generally to perform all such other acts or things as are, in its
          opinion, conducive to the attainment of the objects of the Fund.

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                                                                        Page - 7

RULE 3 - (continued)

3.2  The Committee shall appoint, re-appoint or change the Administrator and
     shall agree with the Administrator the basis of expense charges and the
     scale or scales of the fees charged by the Administrator.

3.3  The Principal Employer may remove from Office the Committee any member
     thereof.

3.4  The Committee shall insure the Fund against to resulting from the
     dishonesty or fraud of any of its officers (including the Committee and the
     Administrator) having the receipt or charge of moneys belonging to the
     Fund.

3.5  All of the Officers of the Fund including the Committee and the
     Administrator shall be indemnified b the Fund against any losses or
     expenses incurred not resulting from their negligence, dishonesty or fraud.

3.6  Without detraction from the provisions of Rule 3.3 a member of the
     Committee shall cease to hold office if:

     (a)  he resigns; or

     (b)  he becomes insane or otherwise incapable of acting; or

     (c)  his estate is sequestrated or surrendered or assigned for the benefit
          of his creditors; or

     (d)  he is convicted, whether in the Republic of South Africa or elsewhere,
          of theft, fraud, forgery, or uttering of a forged document r perjury
          and has been sentenced therefor to serve a term of imprisonment
          without the option of a fine or to a fine exceeding two hundred Rands;
          or

     (e)  he is removed by Court on account of conduct from any office or trust;
          or

     (f)  he is convicted for any offence and sentenced to imprisonment without
          the option of a fine.

3.7  The Committee shall appoint a Principal officer on such terms and
     conditions as it shall determine. If the Principal Officer is absent from
     the Republic for more than thirty days, or is otherwise unable to perform
     his duties, the Committee shall appoint another person to act as Principal
     Officer for the period of his absence, or disability, and shall advise the
     Registrar of such person's name.

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                                                                        Page - 8

RULE 4 -- ADMINISTRATOR

4.1  Nature and Powers of Administrator

4.1.1 The Administrator shall be a corporate body which, inter alia, performs
     the specialist function of pension and provident fund administration.

4.1.2 The Committee shall delegate to the Administrator in writing such of its
     powers and duties as it deems fit and the Administrator shall assume
     responsibility for the affairs of the Fund to the extent of the powers and
     duties so delegated.

4.2  Tasks of Administrator

     The Administrator shall be required to:

     (a)  maintain such books of account and other records as may be necessary
          for the purpose of the Fund, and

     (b)  establish, maintain and operate a bank account in the name of the Fund
          for the purpose of transacting the pecuniary business of the Fund, and

     (c)  agree with the Committee the. basis of expense charges and scales of
          remuneration for its services to the Fund, and

     (d)  hold in safe-keeping all books of account, entries, registers and such
          other documents as are essential for the proper working of the Fund,
          and

     (e)  prepare and submit the Rules of the Fund and all subsequent amendments
          thereto to the Registrar and to the Commissioner for Inland Revenue in
          accordance with the provisions of the Act and the Income Tax Act (Act
          No.58 of 1962) as amended, and

     (f)  render all returns as required in terms of the relevant Acts of
          Parliament and generally carry out all such acts and duties as are
          necessary for the proper administration of the Fund.

4.3  Remuneration

     The Administrator shall be remunerated by the Fund.

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                                                                        Page - 9

RULE 5 -- MEMBERSHIP

5.1  Eligibility.

5.1.1 All eligible Employees as at 1 March 1993. shall become Members of the
     Fund.

5.1.2 All Employees appointed after 1 March 1993 will be required to become a
     Member of the Fund if he is:

     (a)  in the permanent Service of an Employer, and

     (b)  has attained the age of 18 years but not yet 50 years.

5.2  Discretionary waiver of eligibility conditions

     Notwithstanding the provisions of the above the Committee may, with the
     consent of the Principal Employer and the approval of the Commissioner for
     Inland Revenue, waive the conditions of eligibility and admit as a Member
     an Employee who would otherwise be ineligible, on such terms and conditions
     as it shall determine, and acting on the advice of the Valuator.

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                                                                       Page - 10

RULE 6 -- ACTUARIAL INVESTIGATIONS AND ANNUAL FINANCIAL STATEMENTS

6.1  Actuarial Investigations

     The financial position of the Fund shall be investigated by the Valuator at
     intervals of not more than three years. The first investigation shall be
     made at l March 1995.

     The Valuator shall embody the results of his investigation, and any
     recommendations he may make in a written report to be submitted to the
     Committee, a copy of the report being furnished to the Administrator.

     The Administrator shall submit a copy of the report to the Registrar and to
     each participating Employer not more than twelve months after the date to
     which the investigation applies.

     The Valuator shall be remunerated by the Fund.

6.2  Annual Financial Statements

     The Auditor of the Fund shall have access to all books, papers, vouchers,
     accounts and documents connected with the Fund.

     The accounting records of the Fund shall be made up as at the 28 February
     each year and shall be audited by the Auditor. The Auditor shall certify in
     writing the result of each audit.

     The Administrator shall submit the annual financial statements to the
     Registrar not more than six months after the date to which the audit
     applies.

     The Auditor shall be remunerated by the Fund.

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                                                                       Page - 11

RULE 7 -- TRANSFERS AND AMALGAMATIONS

If an Employer shall transfer to, amalgamate with or be taken over by any other
business, company or organisation this Employer may elect to:

          (i)  withdraw wholly from the Fund in which event the provisions of
               Rule 14 shall apply or

          (ii) continue to contribute to the Fund in respect of Employees, in
               which event the Fund shall not be affected except that "Employer"
               shall then mean the now business, company or organisation.

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                                                                       Page - 12

RULE 8 -- CONTRIBUTIONS

8.1  Contributions by Member

     Members shall not be required to contribute to the Fund.

8.2  Employer's contributions

8.2.1 The Employer will contribute to the Fund at the rate which is attested by
     the Valuator as being necessary to provide the benefits as outlined herein.

8.2.2 The recommended contribution made by the Employer may be altered by the
     committee in consultation with the Valuator should he find that, when
     valuing the fund, the rate is not sufficient, or more than sufficient, to
     provide the benefits.

8.3  Payment of Contributions

     The Employer shall pay over the Member's and Employer's contributions to
     the Fund within a period of seven days from the last day of the month to
     which the contributions relate, by means of cheque or transfer in favour of
     the Fund. The Administrator shall deposit the contributions with an
     institution registered under the Deposit Taking Institutions Act, 1990 (Act
     No.94 of 1990), in an account opened in the name of the Fund, not later
     than the first working day following the receipt of the contributions.

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                                                                       Page - 13

RULE 8 (continued)

8.4  Additional Contributions

     A Member who, immediately prior to becoming a Member of the Fund,
     participated under any other pension or retirement arrangements, may apply
     any moneys due to him in terms of such pension or retirement arrangements
     to purchase an additional Pension under the Fund.

     Such Pension shall be in addition to the Pension in terms of the Rules and
     shall be equal to the Pension as determined by the Valuator as can be
     purchased with such moneys.

     Provided that where a benefit becomes payable to a Member there shall be
     added Interest to the original amount (if any) applied in respect of the
     said Member in terms of the first paragraph of this Rule.

8.5  Past Service Contributions

     A Member may, in addition to the contribution he is required to make in
     terms of Rule 8.1, contribute to the Fund a further amount in order to
     secure an additional Pension in respect of any period of past service not
     taken into account in determining the Member's total Pensionable service as
     defined in Rule 2. Such contribution shall not exceed in any year the limit
     prescribed from time to time by the Income Tax Act (Act No.58 of 1962) as
     amended. The amount of additional Pension so payable shall be determined by
     the Valuator.

     Provided that where a benefit becomes payable to a Member there shall be
     added Interest to the original amount (if any) applied in respect of the
     said Member in terms of the first paragraph of this Rule.

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                                                                       Page - 14

RULE 9 -- RETIREMENT BENEFITS

9.1  Pension on Retirement at Normal Retirement Age

     The amount of annual Pension payable in respect of a Member who retires at
     normal Retirement Age shall be:

9.1.1 Members Appointed as Executives prior to 30.6.1991

     2% of Final. Pensionable Salary for each completed year and month of
     Pensionable Service, provided that the benefit shall not be less than 751
     of the Member's Final Pensionable Salary.

9.1.2 Members appointed as Executives On or after 1 July 1991

     2% of Final Pensionable Salary for each year and month of Pensionable
     service up to the date of appointment as an Executive

     PLUS

     3% of Final Pensionable Salary for each year and month of Pensionable
     Service from the date of appointment as an Executive to the date of
     retirement, provided that the total benefit shall not exceed 75% of Final
     Pensionable Salary.

9.2  Pension on Voluntary Early Retirement

     With the consent o the Principal Employer, a Member, provided he is within
     ten years of his Normal Retirement Age, may elect to retire early.

     In this event the Member shall receive an immediate Pension, determined in
     accordance with the formula contained in Rule 9.1 for the period of
     Pensionable Service up to the date of retirement and the amount so
     calculated shall be reduced by 0,5% for each month by which his age at
     retirement precedes his Normal Retirement Age.

9.3  Pension on Compulsory Early Retirement

     If the Principal Employer has directed that a Member must take early
     retirement, the Member, provided he is within ten years of his Normal
     Retirement age, shall proceed on retirement, and shall be entitled to the
     benefit outlined in Rule 9.2 above. The committee, in its absolute
     discretion may direct, that for the purposes of this Rule, no reduction of
     the benefit shall apply. Should granting of a benefit in terms of this Rule
     require an additional contribution, as determined by the Valuator, then
     such additional contribution shall be paid to the Fund by the Employer.
<PAGE>

                                                                       Page - 15

9.4  Pension on Late Retirement

     If, with the consent of the Principal Employer, a Member elects to remain
     in the employ of an Employer after the attainment of his Normal Retirement
     Age then either,

     (a)  With the Employers' agreement, the Member and Employer contributions
          shall continue to be paid. The Member shall then receive a Pension in
          accordance with Rule 9.1, at his actual date of. retirement based on
          his Final Pensionable salary and Pensionable service at that date, or

RULE 9 (continued)

     (b)  The Member and Employer contributions cease to be paid from the
          Member's Normal Retirement Date. The Member shall then receive a
          Pension equal to that which he would have received had he retired at
          his Normal Retirement Date, increased by 0,75% per month for each
          month between his Normal Retirement Date and the date of actual
          retirement.

RULE 10 -- PAYMENT OF PENSIONS

10.1 Mode of Payment

     Pensions are payable in arrear in equal monthly instalments.

10.2 Period of Payment of Pension

     All Pensions are payable for the lifetime of the Pensioner. should the
     Pensioner die before he has received 60 monthly Pension payments, the
     Pension will continue until 60 monthly payments have been made.

10.3 Alternative Guaranteed Period

     With the consent of the Committee, which may not be reasonably withheld,
     the Member may at any time before his retirement elect that his Pension
     under the Fund, instead of being payable for a minimum period of sixty
     months, be payable at a reduced rate for a longer guaranteed period or
     alternatively be payable at an increased rate for a shorter guaranteed
     period. If an option under this Rule is exercised, then any reference
     elsewhere in the Rules to sixty monthly payments of the Member's Pension
     shall be amended accordingly.

10.4 Commutation of Pension

     A Member at retirement may elect to take in cash the full value of his
     Pension, and the full value of the benefit detailed in Rule 11.2.

     The cash amount payable to a Member exercising this option shall be
     determined by the Valuator.

<PAGE>

                                                                       Page - 16

10.5 Joint Pension

     In lieu of the Pension to which he is entitled, a Member may at any time
     before his retirement elect a Pension that will continue to be payable for
     as long as he and / or his designated Dependant are alive. In this event
     the Pension on his own life will be adjusted in accordance with the ages of
     himself and his designated Dependant and the amount of Pension to be paid
     to the survivor.

<PAGE>

                                                                       Page - 17

RULE 10 (continued)

10.6 Pension Increases.

     On the advice of the Valuator the Committee may at its discretion, and
     subject to approval of the Principal Employer, increase the amount of
     Pension payable to any Pensioner after his retirement.

<PAGE>

                                                                       Page - 18

RULE 11 -- DEATH BENEFITS

11.1 Payment of Benefits on the Death of a Member

     Subject; to the provisions of Rule 15:5. and Annexure II to these Rules and
     notwithstanding anything to the contrary elsewhere in these Rules or in any
     law, any benefit payable by the Fund in respect of a deceased Member shall
     not form part of the assets in the estate of such Member, but shall be
     dealt with in the following manner:

     (a)  If the Fund within twelve months of the death of the Member becomes
          aware of or traces a Dependant or Dependants of the Member, the
          benefit shall be paid to such Dependant or, in such proportions as may
          be doomed equitable by the Committee, to such Dependants.

     (b)  If the Fund does not become aware of or cannot trace any Dependant of
          the Member within twelve months of the death of the Member, and the
          Member has designated in writing to the Fund a nominee who. is not a
          Dependant of the Member, to receive the benefit or such portion of the
          benefit as is specified in writing to the Fund, the benefit or such
          portion of the benefit shall be paid to the nominee. Provided that
          where the aggregate amount of the debts in the estate of the Member
          exceeds the aggregate amount of the assets in the estate, so much of
          the benefit as is equal to the difference between such aggregate
          amounts of debts and such aggregate amounts of assets shall be paid
          into the estate and the balance of such benefit or the balance of such
          portion of the benefit as specified by the Member in writing to the
          Fund shall be paid to the nominee.

     (c)  If a Member has a Dependant and the Member has also designated in
          writing to the Fund a nominee to receive the benefit or such portion
          of the benefit as is specified by the Member in writing to the Fund,
          the Fund shall within twelve months of the death of such Member pay
          the benefit or such portion thereof to such Dependant or nominee in
          such proportions as the Committee may deem equitable.

     (d)  If the fund does not become aware of or cannot trace any Dependant of
          the Member within twelve months of the death of the Member and if the
          Member has not designated a nominee or if the Member has designated a
          nominee to receive a portion of the benefit in writing to the Fund,
          the benefit or the remaining portion of the benefit after payment to
          the designated nominee, shall be paid into the estate of the member
          or, if no inventory in respect of the Member has been received by the
          Master of the supreme Court in terms of Section 9 of the Estates Act
          (Act No. 66 of 1965), into the Guardian's Fund.

     (e)  A payment by the Fund to a trustee contemplated by the Trust Property
          Control Act (Act No. 57 of 1988), for the benefit of a Dependent or a
          nominee contemplated in these Rules, shall be deemed to be a payment
          to such Dependant or nominee..

<PAGE>

                                                                       Page - 19

11.2 Death of a Pensioner

     On the death of a Pensioner before sixty monthly instalments have been
     paid, the Pension will continue to be paid. until sixty monthly payments.
     have been made. After the sixty instalments have been paid, a Spouse's
     Pension equal to 50% of the Pension, before any commutation option was'
     exercised to which the Pensioner became entitled at the date of retirement,
     plus increases granted in terms of Rule 10.6 shall be payable for the
     lifetime of the Spouse. Notwithstanding the above, the Member may, at
     retirement, elect to commute all or part of the Spouse's Pension on death
     after retirement for a cash sum, as determined by the Valuator.

11.3 Death in Service after Normal Retirement Age

     Should a Member die in Service after Normal Retirement Age, the benefit
     payable shall be equal to the amount to which the Member would have become
     entitled, had he retired at his date of death.

RULE 12 -- WITHDRAWAL BENEFITS

On leaving the Service of an Employer, other than on retirement, a Member will
not receive a benefit.

RULE 13 -- FINANCIAL PROVISIONS

13.1 The Committee shall have the full power, subject to the provisions of the
     Act, to lend, invest, to effect policies of insurance carrying Insurance
     issued to the Fund by a person or persons lawfully on insurance business
     within the meaning of the Act (Act No.27 of 1943), or put out at interest,
     place on deposit, make advances of, or otherwise deal with all the moneys
     of the Fund upon such securities and in such manner as it from time to time
     determines, and to realise, vary, reinvest, or otherwise deal with such
     securities as it from time to time determines; provided that:

     no loan or advance shall be made by the Fund to an Employer except that
     subject to the consent of the Registrar in terms of Section 19(6) of the
     Act, a loan may be made to an Employer and shares in the capital of an
     Employer may be purchased; provided that the total amount so invested shall
     not exceed 5% of the total assets of the Fund;

<PAGE>

                                                                       Page - 20

13.2 The Committee, subject to the provisions of the Act, may obtain an
     overdraft from a bank, or borrow from an Employer or any other party, on
     such terms as it thinks fit, such sum as it approves for the purpose of
     completing any investment or for any other purpose of the Fund.

13.3 All securities shall be registered in the name of the Fund or in the name
     of a nominee company approved by the Registrar and no security shall be
     transferred, varied, disposed of, or otherwise alienated, except with the
     written approval of the Committee.

13.4 All title deeds and other securities belonging to or held by the Fund shall
     be kept in the safes or strongrooms at the registered office of the Fund or
     in a bank, as decided by the Committee.

13.5 All of the officers of the Fund Including the Committee and the
     Administrator shall be indemnified by the Fund against any looses or
     expenses incurred not resulting from their negligence, dishonesty or fraud.

<PAGE>

                                                                       Page - 21

RULE 14 -- RECONSTRUCTION, TERMINATION AND PARTIAL TERMINATION OF THE FUND

14.1 Reconstruction

     If an Employer is wound up for the purpose of reconstruction in a similar
     or amended form, the reconstructed organisation shall have the right of
     taking the place of the Employer and, if it exercises such right, the Fund
     shall not be affected except that "Employer" shall then mean the
     organisation as reconstructed.

14.2 Termination

14.2.1 If all the Employers cease to carry on business or are wound up (whether
     voluntarily or not) in circumstances to which Rule 14.1 does not apply, or
     if the Principal Employer gives notice in writing to the Committee that the
     Employers' contributions are to be terminated; the Committee shall appoint
     a suitable person (who shall not himself be a Committee Member, and whose
     appointment shall be subject to the Registrar's approval) to act as
     liquidator of the Fund.

14.2.2 As from the date of the Registrar's approval of his appointment, the
     liquidator shall realise the assets of the Fund and, after payment of all
     expenses incurred in liquidating the Fund, apportion the proceeds amongst
     the Members, Pensioners, Deferred Pensioners and other beneficiaries on an
     equitable basis recommended by the Valuator and approved by the liquidator.

     In making such apportionment, the liquidator shall include each former
     Member who, during such period ending on the date of ceasing to carry on
     business, or termination of contributions, as the liquidator may decide,
     left Service for reasons accepted by the liquidator as not being
     attributable to the former Member's fraud or misconduct, but shall reduce
     the amount of the former Member's apportionment by the amount of the former
     Member's benefit on the termination of his Service.

<PAGE>

                                                                       Page - 22

RULE 14 (continued)

14.2.3 The amounts apportioned in terms of Rule 14.2.2 shall be dealt with as
     follows:

     (a)  the amount available for a person in receipt of a Pension shall be
          applied to purchase an annuity for him from a Insurer;

     (b)  the amount available for a person prospectively entitled to a Pension
          shall, as the liquidator in consultation with the Valuator may decide,

          (i)  be transferred to such person's benefit to an Approved Fund; or

          (ii) be applied to purchase an annuity for such person from a
               Registered insurer; or

          (iii) be paid to such person in cash;

     (c)  if a person to whom a benefit is payable cannot be traced the benefit
          shall, notwithstanding the provisions of Rule 15.15, be disposed of in
          such manner as shall be provided for in the scheme of termination.

14.2.4 If all the Employers cease to contribute to the Fund as the result of a
     decision to establish, or participate in, another Approved Fund then, as an
     alternative to following the procedure set out above, the Principal
     Employer may instruct the Committee to transfer the assets of the Fund to
     the other Approved Fund in order that the liabilities of the Fund in
     respect of the Members, Pensioners, Deferred Pensioners and other
     beneficiaries shall be taken over by the other Approved Fund.

<PAGE>

                                                                       Page - 23

RULE 14 (continued)

14.3 Partial Termination.

14.3.1 If one of the Employers ceases to carry on business or is wound up
     (whether- voluntarily or not); the portion of the Fund relating to the
     active Members in the Service of that Employer shall be determined by the
     Valuator by reference to his assessment of the financial state of that
     portion of the Fund. Such portion shall be apportioned amongst the active
     Members concerned on an equitable basis recommended by the Valuator and
     approved by the Trustees. In making such apportionment the Valuator shall
     include each former Member who, during such period ending on the date of
     termination as the Valuator shall agree with the Committee, left Service
     for reasons which were not attributable to the former Member's fraud or
     misconduct; but shall reduce the amount of the former Member's
     apportionment by the amount of the former Member's benefit on the
     termination of his Service.

14.3.2 The amount available for each person referred to in Rule 14.3.1, shall,
     as the Committee, in consultation with the Valuator shall decide,

     (a)  be transferred for such person's benefit to an Approved Fund; or

     (b)  be applied to purchase an annuity for such person from a Registered
          Insurer; or

     (c)  be paid to such person in cash.

14.3.3 If one of the Employers ceases to fall within the category of Employer as
     defined in Rule 2, then

     (a)  If such Employer establishes, or participates in, another Approved
          Fund, the portion of the Fund relating to. the Active Members in the
          Service of that Employer shall be determined by the Valuator by
          reference to his assessment of the financial state of that portion of
          the Fund and the assets comprising that portion shall be transferred
          to the other Approved Fund in order that the liabilities of the Fund
          in respect of those Active Members under that portion of the Fund
          shall be taken over by the other Approved Fund, or

<PAGE>

                                                                       Page - 24

RULE 14 (continued)

     (b)  if such Employer does not establish, or participate in, another
          Approved Fund,

          (i)  subject to the consent of the Principal Employer and of the
               Committee, the Employer may elect to continue to contribute to
               the Fund in respect of its Employees; or

          (ii) the Employer may elect to withdraw wholly from the Fund, in which
               event the provisions of Rules 14.3.1 and 14.3.2 shall mutatis
               mutandis apply.

RULE 15 -- GENERAL PROVISIONS

15.1 Temporary Absence from Work

     (a)  If a Member is temporarily absent from work, the Committee in
          consultation with the Employer, may regard such Member as remaining a
          Member:

          (i)  for a period not exceeding two years if the absence is due to
               compulsory training in the Citizen Force or Commandos, or

          (ii) for a period not exceeding one year if absence is due to any
               other cause;

          provided no benefit has been paid in respect of the Member by the
          Fund.

     (b)  If, at the expiry of the appropriate period of absence, the Member has
          not returned to work he shall be deemed to have left the Service and
          the provisions of Rule 12 shall apply.

15.2 Benefits not Assignable

     Except as otherwise provided in these Rules, no benefit payable under the
     Fund can be assigned, hypothecated, encumbered or alienated in any manner
     whatsoever.

15.3 Interpretation of Rules

     Any dispute arising as to the meaning or interpretation of these Rules
     shall be decided by the Committee whose decision shall be final and
     binding, provided that such decision is not inconsistent with the
     provisions of these Rules and provided further that if any party to such
     dispute is dissatisfied with the decision the Committee shall, on demand by
     such party, refer the dispute to arbitration, in accordance with the Rules
     and Regulations applicable to Arbitration under the laws of the Republic of
     South Africa prevailing at the time.

<PAGE>

                                                                       Page - 25

15.4 Right of any Employer to Discharge Employees

     Membership of the Fund shall not in any way restrict the right of any
     Employer. to discharge any of its Employees. and the benefits provided
     under the Fund shall not be made the grounds for increasing a claim for
     damages in any action brought by a Member against his Employer.

<PAGE>

                                                                       Page - 26

RULE 15 (continued)

15.5 Lien in Favour of Employer

     If at the time a payment is made in terms of the Rules there is a debt or
     liability due by the Member to the Employer, there may, subject to
     compliance with the provisions of Section 37D of the Act, as set out in
     Annexure II to these Rules, be discharged therefrom the amount of such debt
     or liability or part thereof as the case may be, provided that if any
     amount is to be deducted from a retirement benefit to which the Member is
     entitled the amount of. the deduction shall be restricted to that portion
     of the benefit which is permitted to be taken as a lump sum benefit as
     defined in the Second Schedule of the Income Tax Act 1962, as amended, or
     such lesser amount, as is adequate to discharge the Member's debt or
     liability.

15.6 Reduction in remuneration

     If a Member's remuneration is reduced, the Committee shall determine
     whether or not the Member's Pensionable Salary shall be reduced for the
     purpose of the Fund and if so, to what extent.

15.7 Income Tax

     All payments of benefits in terms of these Rules are subject to any tax
     deductions where applicable under the Laws of the Republic of South Africa
     at the time of the payment.

15.8 Greater Benefits

     The Committee has the right, in consultation with the Valuator, and with
     approval of the Commissioner for Inland Revenue, to allocate greater
     benefits than those provided for in these Rules, subject to a maximum
     benefit of his Actuarial Reserve Value.

15.9 Continuation of Membership

     All Members are obliged to remain Members until withdrawal from Service,
     death or retirement, as the case may be.

15.10 Alienation of Benefits

     No Member or other person entitled to benefits in terms of the Rules of the
     Fund shall alienate any benefit or right to any benefit unless permitted by
     Rule 15.5. No such benefit or right shall be subject to any form of
     attachment or execution.

<PAGE>

                                                                       Page - 27

RULE 15 (continued)

15.11 Committee's Power Over Payment

     If, in the opinion of the Committee the Member, Dependant, beneficiary,
     nominee or any person otherwise entitled to benefits under these Rules:

     (a)  is, owing to disease, mental disorder or defect not responsible for
          his actions, or is incapable of managing his affairs; or

     (b)  is addicted to the excessive use of any drug or intoxicating liquors
          or is otherwise of intemperate habits; or

     (c)  is prodigal; or

     (d)  has failed on account of imprisonment, desertion, divorce, or any
          other cause, to support persons dependent upon him for maintenance;

     The committee may, in its absolute benefit be paid wholly or partly to the
     Member, Dependent, beneficiary, nominee or any other person entitled to the
     benefit or to the Trustees appointed by the Committee in terms of a Trust
     registered with the Master of the Supreme Court for the benefit of the
     Member, Dependent, beneficiary, nominee or any other person entitled to a
     benefit.

15.12 Pensioners to Provide addresses and Evidence of Existence

     Each Pensioner and deferred Pensioner shall give notice in writing to the
     Administrator of his place of residence and of any change of address and
     shall, in addition, furnish the Administrator with such evidence of his
     existence, as shall be required from time to time.

15.13 Proof of Age

     Certified proof of age is required before the payment of any benefit under
     the Fund will be made.

<PAGE>

                                                                       Page - 28

RULE 15 (continued)

15.14 Unclaimed Moneys

     Notwithstanding anything to the contrary contained in these Rules, it is
     provided that if a Member who has left the Service of the Employer fails to
     claim any benefit to which the Member had become entitled in terms of Rule
     12, within three years after the date on which such benefit becomes
     payable, such benefit shall revert to the Fund.

     Provided that after the expiry of the said three-year period the Committee
     shall instruct the Fund to pay the benefit to the Member or, if the Member
     has died to his Dependants, to retain the benefit for the Member in the
     Fund, or to pay the benefit to the Guardian's Fund.

15.15 Alterations of Rules

     Subject to the provisions of the Act and the approval of the Commissioner
     for Inland Revenue, the Committee may, with the concurrence of the
     Principal Employer, make new Rules or alter -or repeal any existing Rule.

     The Administrators shall notify the Registrar and the Commissioner for
     Inland Revenue in the Republic of South Africa and any other statutory
     authority who requires to be so notified of all amendments to these Rules.

15.16 Transfers to and from the Fund

     The Committee shall have the power to accept the transfer of members of
     another registered fund to the Fund and to authorise the transfer of
     Members to another registered fund.

     All such transactions shall be subject to the provisions of section 14 of
     the Act.

<PAGE>

                                                                       Page - 29

                             BURLINGTON/SUN COURIERS
                            EXECUTIVE PROVIDENT FUND

                                   ANNEXURE I

Each and every Deposit Administration Policy, as defined in Rule 2 of these
Rules, and issued in the name of the Fund, shall contain the following
provisions:

     (a)  the Insurer maintains in its books of account an account in respect of
          the Fund to which account is credited all amounts paid by the Fund to
          the insurer, plus either interest at the rate agreed upon between the
          Fund and the Insurer, and such bonuses as the Insurer declares from
          time to time, or such investment income and capital profits as are
          contractually deemed to accrue to the Fund from time to time.

     (b)  the Insurer debits to such account all amounts withdrawn to provide
          benefits in terms of the Rules of the Fund, such administrative and
          other expenses as are agreed between the Fund and the insurer from
          time to time and such capital losses as may be contractually agreed to
          be for the account of the Fund from time to time; and

     (c)  the Insurer's liability to the Fund at any given time in respect of
          the Deposit Administration Policy, is limited to the amount deemed to
          be standing to the credit of the said account after all credits and
          debits which have arisen up to that time have been taken into account.

<PAGE>

                                [PAGE 30 MISSING]

<PAGE>

                                                                       Page - 31

ANNEXURE II (continued)

Extract (2)

     Extract from Section 37 of the Pension Funds Act, 1956 as amended

37D  Fund may make certain deductions from Pension benefits

     A Registered Fund may -:

     (a)  deduct any amount due to the fund in respect of:

          i)   a loan granted to a member in terms of Section 19 (5) (a); or

          ii)  any amount for which the fund is liable under a guarantee
               furnished in respect of a loan by some other person to a member
               for any purpose referred to in Section 19 (5) (a),

          from the benefit to which the member or a beneficiary is entitled in
          terms of the Rules of the Fund, to an amount not exceeding the amount
          which in terms of the Income Tax Act, 1962 (Act No. 58 of 1962), may
          be taken by a member or Beneficiary as a lump sum benefit as defined
          in the Second Schedule of that Act;

     (b)  deduct any amount due by a member to his employer on the date of his
          retirement or on which he ceases to be a member of the fund, in
          respect of,

          i)   (aa) a loan granted by the employer to the member for any purpose
                    referred to in Section 19 (5) (a); or

               (bb) any amount for which the employer is liable under a
                    guarantee furnished in respect of a loan by some other
                    person to the member for any purpose referred to in Section
                    19 (5) (a),

               to an amount not exceeding the amount which in terms of the
               Income Tax Act, 1962, may be taken by a member or beneficiary as
               a lump sum benefit as defined in the Second Schedule to that Act;
               or

<PAGE>

                                                                       Page - 32

ANNEXURE II (continued)

          ii)  compensation (including any legal costs recoverable from the
               member in a matter contemplated in sub-paragraph (bb)) in respect
               of any damage caused to the employer by reason of any theft,
               dishonesty, fraud or misconduct by the member, and in respect of
               which -

               (aa) the member has in writing admitted liability to the
                    employer; or

               (bb) judgement has been obtained against the member in any court,
                    including Magistrates Court,

               from any benefit payable in respect of the member or a
               beneficiary in terms of the Rules of the Fund, and pay such
               amount to the employer concerned.

<PAGE>

                                                                       Page - 33

                             BURLINGTON/SUN COURIERS
                            EXECUTIVE PROVIDENT FUND

Certified to be the Rules in force with effect 1 March 1993.

SIGNED

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
CHAIRMAN: COMMITTEE OF MANAGEMENT

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
COMMITTEE MEMBER

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
PRINCIPAL OFFICER

3 JUNE 1993
DATE

CERTIFIED FINANCIALLY SOUND

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
VALUATOR

8/6/93
DATE

<PAGE>

                            FINANCIAL SERVICES BOARD

                           RAAD OP FINANSIELE DIENSTE

                  CERTIFICATE OF REGISTRATION OF A PENSION FUND

                SERTIFIKAAT VAN REGISTRASIE VAN 'N PENSIOENFONDS

    PENSION FUNDS ACT NO. 24 OF 1956. WET OP PENSIOENFONDSE NO. 24 VAN 1956.

                                                                     NO. 29227/R

It is certified that
Daar word gesertifiseer dat UNISERV EXECUTIVE PROVIDENT FUND

has been registered in terms of section 4(7) of the Pension
geregistreer is kragtens artikel 4(7) van die Wet op Pensioen

Funds Act, 1956.
fondse, 1956.

Dated at Pretoria, this ___________ day of
Gedateer te Pretoria, op hede die TWENTY SIX dag van APRIL

One thousand Nine Hundred and
Eenduisend Negehonderd NINETY FOUR

                                        /s/ SIGNATURE ILLEGIBLE
                                        ----------------------------------------
                                        REGISTRATEUR VAN PENSIOENFONDSE
                                        REGISTRAR OF PENSION FUNDS

<PAGE>

                             BURLINGTON/SUN COURIERS
                            EXECUTIVE PROVIDENT FUND

AMENDMENT NO. 1

With effect 1 October 1993 the following amendment shall be made to the Rules of
the Fund:

RULE 2: DEFINITIONS

The definition of "Fund" shall be deleted and replaced by:-

"Fund" shall mean the Uniserv Executive Provident Fund.

All references to the "Burlington/Sun Couriers Executive Provident Fund" in the
Rules shall be replaced by "Uniserv Executive Provident Fund".

Certified that the resolution in terms of which the amendment has been accepted
as an amendment to the Rules of the Fund has been adopted in accordance with the
provisions of the Rules of the Fund.

SIGNED

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
CHAIRMAN:
COMMITTEE OF MANAGEMENT

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
COMMITTEE MEMBER

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
PRINCIPAL OFFICER

-------------------------------------
DATE

<PAGE>

                        UNISERV EXECUTIVE PROVIDENT FUND

AMENDMENT NO. 2

With effect 1 March 1993, the Rules of the Fund shall be amended as follows:

RULE 13 2 - FINANCIAL PROVISIONS

Rule 13.2 shall be deleted and replaced by:

"The Committee of Management may obtain a temporary loan from a bank or borrow
from an Employer or any other party, on such terms as it thinks fit, such sum as
it approves for the purpose of bridging unforseen cash shortages, or for taking
advantage of attractive investment opportunities. Provided that the aggregate
amount of any such loan does not at any time exceed one half of the Fund's gross
income from all sources during the immediately preceding financial year".

RULE 15.11 - COMMITTEE'S POWER OVER PAYMENT

The last paragraph of Rule 15.11 shall be deleted and replaced by the following:

"The Committee may, with the written consent of such person or his legal
representative or as directed by a court, direct that the benefit be paid wholly
or partly to the dependents of such person or to trustees approved by the
Committee in terms of a Trust registered under the Trust Property Control Act
(Act No. 57 of 1988), for the benefit of the person or his dependants".

<PAGE>

                                                                          Page 2

Certified that the Resolution in terms of which the amendment to the Rules of
the Fund has been accepted, has been adopted in accordance with the provisions
of the rules of the Fund.

SIGNED

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
CHAIRMAN:
COMMITTEE OF MANAGEMENT

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
COMMITTEE MEMBER

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
PRINCIPAL OFFICER

DATE ILLEGIBLE
DATE

<PAGE>

                                 AMENDMENT NO. 3

                        UNISERV EXECUTIVE PROVIDENT FUND

                                  12/8/29227/1

Extract from the minutes of a meeting of a Committee of Management meeting held
at Bedfordview on 12 Nov, 1998.

RESOLVED that effective 1 September 1998 the RULES of the FUND be amended as
follows:

RULE 9.2 PENSION ON VOLUNTARY EARLY RETIREMENT

RULE 9.2 shall be deleted in its entirety and be replaced by:

With the consent of the EMPLOYER, a MEMBER, provided he is within ten years of
NORMAL RETIREMENT AGE, may elect to retire early.

In this event the MEMBER shall be entitled to a Pension determined in accordance
with the formula contained in RULE 9.1 for the period of PENSIONABLE SERVICE up
to the date of early retirement, and the amount so calculated shall be reduced
by a percentage as follows:

9.2.(a) Executives appointed prior to 30 June 1991.

     0,50% per month by which the early retirement date precedes the MEMBER'S
     NORMAL RETIREMENT date.

9.2.(b) Executives appointed after 1 July 1991.

     0,25% per month by which the early retirement date precedes the MEMBER'S
     NORMAL RETIREMENT.

<PAGE>

RULE 10.6 shall be added as follows:

Purchase of Pensions

Any Pension payable in terms of RULE 9 may, with the consent of the COMMITTEE
acting on the advice of the Valuator, on application by a MEMBER, be purchased
from an INSURER in the MEMBER'S name. On payment of the value of the Pension as
determined by the Valuator to the INSURER, the FUND shall have no further
liability to the MEMBER.

The reason for the Amendment is to enhance the early retirement benefits, and to
allow for the purchase of annuities from an Insurer.

Certified that the above resolution has been adopted in accordance with the
RULES of the FUND.

/s/ SIGNATURE ILLEGIBLE                 /s/ SIGNATURE ILLEGIBLE
-------------------------------------   ----------------------------------------
CHAIRMAN                                PRINCIPAL OFFICER

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
COMMITTEE MEMBER

CERTIFIED FINANCIALLY SOUND

/s/ SIGNATURE ILLEGIBLE                 10/12/98
-------------------------------------   DATE
VALUATOR

<PAGE>

                            CLEMANS, MURFIN & ROLLAND

                            Telephone: (011) 331-3836

                            Fax        (011) 331-5840

DATE: 24/7/98                           FROM: Bert Brooklyn

TOTAL PAGES: 1                          FAX NO: 886 6466

Too: ELMARIG

COMPANY: C.B.C.

MESSAGE: Uniserv Executive Provident Fund

Our conversation. Factors from AW 50 to 54.

<TABLE>
<CAPTION>
Age    Males   Females
---    -----   -------
<S>   <C>      <C>
 50   12.415   12.608
 51   12.289   12.486
 52   12.157   12.358
 53   12.019   12.224
 54   11.874   12.084
</TABLE>
<PAGE>

                        UNISERV EXECUTIVE PROVIDENT FUND
                                  12/8/29227/1

                                 AMENDMENT NO 4

Extract from the minutes of a Committee of Management meeting held at
Bedfordview on 12 November 1998.

RESOLVED that effective 1 December 1998, RULE 3 be deleted and replaced by:

RULE 3 - COMMITTEE OF MANAGEMENT

3.1        GENERAL

3.1.1      The COMMITTEE shall direct, control and oversee the operations of the
           FUND in accordance with the applicable laws and the RULES.

3.1.2      The COMMITTEE shall consist of a minimum of 4 members, unless the
           FUND has received exemption in terms of Section 7B of the ACT.

3.1.3      Up to 50% of the COMMITTEE (and alternates to act in their absence)
           shall be appointed by the PRINCIPAL EMPLOYER and shall be known as
           EMPLOYER TRUSTEES.

3.1.4      At least 50% of the COMMITTEE (and alternates to act in their
           absence) shall be elected by MEMBERS as set out in RULE 3.2 and shall
           be known as MEMBER TRUSTEES.

3.1.5      A TRUSTEE may resign at any time on giving written notice to the
           COMMITTEE.

<PAGE>

                                                                               2

3.1.6      An EMPLOYER TRUSTEE may be removed by the PRINCIPAL EMPLOYER from
           office at any time and a new TRUSTEE and his alternate appointed.

3.1.7      The MEMBERS may remove a MEMBER TRUSTEE from office if the MEMBERS
           resolve to do so at a special MEMBERS' meeting.

3.1.8      A TRUSTEE shall not hold office or shall cease to hold office if:

3.1.8.1    he is removed in accordance with RULES 3.1.6 or 3.1.7 or

3.1.8.2    he resigns in terms of RULE 3.1.5 or

3.1.8.3    he is mentally or physically incapable of acting or

3.1.8.4    his estate is or has been sequestrated or surrendered or assigned in
           favour of his creditors or

3.1.8.5    he is an unrehabilitated insolvent or

3.1.8.6    he is or has been removed by any competent court from any office of
           trust on account of misconduct or

3.1.8.7    he is or has been convicted by any competent court and sentenced to a
           prison term without the option of a fine or to a fine exceeding R100
           for one of the following:- theft, fraud, forgery, or uttering a
           forged document, perjury, an offence under the Prevention of
           Corruption Act, or any offence involving dishonesty or

3.1.8.8    he is a minor or

<PAGE>

                                                                               3

3.1.8.9    he is not re-elected by the MEMBERS as set out in RULE 3.2 or

3.1.8.10   in the case of a MEMBER TRUSTEE his period of office expires

3.1.9      A MEMBER TRUSTEE shall hold office until the second anniversary
           following his election or for any such other period as may be agreed
           upon between the COMMITTEE, EMPLOYER and MEMBERS.

3.1.10     A MEMBER TRUSTEE shall be eligible for re-election.

3.1.11     An EMPLOYER TRUSTEE shall be eligible for reappointment

3.2        MEMBER TRUSTEES

3.2.1      The PRINCIPAL EMPLOYER shall call a meeting of, or poll, the MEMBERS
           in order to elect the initial MEMBER TRUSTEES and their alternates on
           giving 14 working days notice in writing to all MEMBERS.

3.2.2      The MEMBERS shall be polled by the COMMITTEE to meet within 2 months
           of each second anniversary date, or on such other date as may be
           agreed upon by the COMMITTEE, EMPLOYER and MEMBERS, following the
           election of the MEMBER TRUSTEES, as set out in RULE 3.2.1, in order
           to elect new or re-elect the MEMBER TRUSTEES and their alternates.

3.2.3      A special MEMBERS' meeting or poll of the MEMBERS shall be called by
           the COMMITTEE if 25% or more of the MEMBERS submit a petition
           outlining the agenda for such a special meeting and/or poll to the
           COMMITTEE. Any such meeting and/or poll must be held within 21
           working days of the submission.

<PAGE>

                                                                               4

3.2.4      The COMMITTEE shall give 14 working days notice in writing to all
           MEMBERS of any meeting and/or poll as set out in RULES 3.2.2 and
           3.2.3.

3.2.5      The MEMBERS shall elect at any meeting a chairman from amongst
           themselves to preside at that meeting.

3.2.6      Each MEMBER (including a MEMBER TRUSTEE) shall have 1 vote and a
           majority decision shall be binding.

3.2.7      The chairman of any meeting shall have a deliberative as well as a
           casting vote.

3.2.8      No proxy votes shall be allowed.

3.2.9      The voting at any meeting shall be done either by secret ballot or by
           a show of hands as the chairman shall decide.

3.2.10     50% of the MEMBERS shall form a quorum at any meeting.

3.2.11     Unless at least 50% of the MEMBERS vote in the event of a poll, any
           decision under such poll shall be invalid.

3.3        COMMITTEE MEETINGS

3.3.1      COMMITTEE meetings shall be held at least once a year.

3.3.2      Special COMMITTEE meetings may be called at any time provided 2 or
           more TRUSTEES submit a petition outlining the agenda for such a
           special meeting to the COMMITTEE.

<PAGE>

                                                                               5

3.3.3      The chairman shall give the TRUSTEES 14 working days notice in
           writing of a meeting set out in RULES 3.3.1 or 3.3.2.

3.3.4      A chairman shall be elected by the TRUSTEES, provided that if that
           person is absent, the remaining TRUSTEES may elect a chairman for the
           purposes of the meeting from among themselves.

3.3.5      The chairman elected in terms of RULE 3.3.4 shall hold office for
           such period as the COMMITTEE decides, provided that he may be removed
           by the COMMITTEE at any time.

3.3.6      50% of the TRUSTEES shall constitute a quorum provided that:

3.3.6.1    if the BOARD consists of 4 TRUSTEES or less, all the TRUSTEES shall
           constitute a quorum.

3.3.6.2    at least 50% of the quorum are MEMBER TRUSTEES.

3.3.7      Each TRUSTEE shall have 1 vote, provided that the chairman shall have
           a deliberative as well as casting vote.

3.3.8      The decision of the majority of the TRUSTEES shall be binding.

3.3.9      Proxy votes shall be allowed provided that the chairman is notified
           prior to the meeting.

3.3.10     The voting shall be done by secret ballot or by a show of hands as
           the chairman shall decided.

<PAGE>

                                                                               6

3.3.11     A resolution in writing signed by all the TRUSTEES shall be of the
           same force and effect as a resolution passed at a COMMITTEE meeting.

3.4        DUTIES OF THE COMMITTEE

           The duties of the COMMITTEE shall be to:

3.4.1      Ensure that proper books are kept as set out in RULE 3.7.

3.4.2      Ensure that proper minutes are kept as set out in RULE 3.5.

3.4.3      Ensure that proper control systems are employed by or on behalf of
           the COMMITTEE.

3.4.4      Ensure that adequate and appropriate information is communicated to
           the MEMBERS informing them of their rights, benefits and obligations
           in terms of the RULES.

3.4.5      Take all reasonable steps to ensure that contributions are paid
           timeously to the FUND in accordance with the ACT.

3.4.6      Obtain expert advice on matters where the TRUSTEES may lack
           sufficient expertise.

3.4.7      Ensure that the RULES comply with the ACT, the Financial Institutions
           (Investment of funds) Act 1984, and all other applicable laws.

3.4.8      Act with due care, diligence and good faith.

<PAGE>

                                                                               7

3.4.9      Avoid conflicts of interest.

3.4.10     Act with impartiality in respect of all MEMBERS, DEPENDANTS and
           NOMINEES.

3.4.11     Take all reasonable care to protect the MEMBER'S interests in terms
           of the RULES and ACT, especially in the event of:

3.4.11.1   an amalgamation or transfer of business in terms of Section 14 of the
           ACT.

3.4.11.2   withdrawal of a participating EMPLOYER

3.4.11.3   a reduction in or termination of a participating EMPLOYER'S
           contributions.

3.4.11.4   an increase in the MEMBER'S contributions

3.4.11.5   a decrease in benefits in terms of the RULES.

3.4.11.6   Maintain strict confidentiality regarding all information obtained in
           respect of all parties in any way concerned under these RULES whilst
           carrying out their duties.

3.4.11.7   Carry out their other duties and exercise their other powers as may
           be shown elsewhere in the RULES.

3.4.11.8   Make decisions, in consultation with the PRINCIPAL EMPLOYER, in the
           event of an occurrence which has not been provided for in the RULES,
           provided that such decision shall be consistent with the provisions
           of the RULES, the ACT and the INCOME TAX ACT.

<PAGE>

                                                                               8

3.4.11.9   Make arrangements and do anything which shall be consistent with the
           provisions of the RULES, the ACT and the INCOME TAX ACT.

3.5        MINUTE BOOK

3.5.1      Minutes of all COMMITTEE meetings shall be kept.

3.5.2      COMMITTEE resolutions and decisions must be recorded in the minute
           book.

3.5.3      The pages of the minuted book shall be bound in such a way as to
           render the withdrawal or insertion of a page impossible and all pages
           shall be numbered consecutively.

3.6        APPOINTMENTS

           The COMMITTEE -

3.6.1      Shall appoint a PRINCIPAL OFFICER in terms of Section 8 of the Act,
           provided that if the PRINCIPAL OFFICER is absent from the Republic of
           South Africa for more than 30 days or is otherwise unable to perform
           his duties, the COMMITTEE shall appoint another person to act as
           PRINCIPAL OFFICER for the period of his absence or inability and
           shall advise the REGISTRAR of such person's name and address.

3.6.2      May appoint, if necessary, a secretary and such other officers on
           such terms and conditions and for such periods as it may determine
           from time to time.

<PAGE>

                                                                               9

3.6.3      Shall appoint an AUDITOR. The AUDITOR will have access to all books,
           vouchers and other documents pertaining to the FUND and must certify
           the result of each audit in the form of a balance sheet. The same to
           be lodged with the REGISTRAR within six months of the expiration of
           the FINANCIAL YEAR.

3.6.4      Shall appoint a LIQUIDATOR as set out in Section 28(2) of the ACT if
           the FUND is liquidated.

3.6.5      Shall appoint a Manager to administer the FUND. The address of the
           ADMINISTRATORS shall be at the registered office of the FUND.

3.7        BOOKS OF THE FUND

3.7.1      The COMMITTEE shall ensure that proper accounts, entries, registers
           and records as are essential for the proper working of the FUND be
           kept.

3.7.2      The books of account shall be made up at the end of each FINANCIAL
           YEAR.

3.7.3      The COMMITTEE shall keep a register at the registered office of the
           FUND containing the following:

3.7.3.1    the full name of each TRUSTEE, his identity number, date of birth,
           nationality, occupation, residential address, business address and
           postal address and the date of appointment as a TRUSTEE, together
           with any changes to the above information

3.7.3.2    the postal address and registered office of the FUND

<PAGE>

                                                                              10

3.7.3.3    particulars of any AUDITOR

3.7.3.4    particulars of any INSURER involved in the FUND, excluding an INSURER
           utilised for the purpose of purchasing pensions

3.7.3.5    particulars of any ACTUARY.

3.8        EXPENSES

3.8.1      The TRUSTEES, PRINCIPAL OFFICER and any officers of the COMMITTEE
           shall not be entitled to any remuneration for their services.

3.9        INDEMNIFICATION

3.9.1      The TRUSTEES and all other officers of the FUND will be indemnified
           by the PRINCIPAL EMPLOYER against all proceedings, costs and expenses
           incurred by reason of any claim in connection with the FUND not
           arising from their negligence, dishonesty or fraud.

3.9.2      The COMMITTEE shall insure the FUND against any loss resulting from
           the dishonesty or fraud of any of its officers (including the
           TRUSTEES).

3.10       SIGNING OF DOCUMENTS

           The chairman and one other TRUSTEE, so authorised by the COMMITTEE
           shall sign any contract, document or agreement which is binding on
           the FUND, provided that any documents to be deposited with the
           REGISTRAR shall be signed as prescribed in the ACT.

<PAGE>

                                                                              11

3.11       POWER OF THE TRUSTEES

3.11.1     The TRUSTEES shall authorise the ADMINISTRATORS to open a banking
           account in the name of the FUND, and all monies received on behalf of
           the FUND shall be deposited therein.

3.11.2     The TRUSTEES shall have the power, subject to the provisions of
           Section 19 of the ACT and this RULE, to invest in immovable property,
           otherwise invest, lend, put out at interest, place on deposit, make
           advance of, or otherwise deal with all the monies of the FUND upon
           such securities and in such manner as they from time to time
           determine, and to dispose of immovable property, and realise, vary,
           re-invest, or otherwise deal with securities and other investments as
           they from time to time determine; provided that no loan shall be made
           to a MEMBER.

3.11.3     The TRUSTEES may delegate their powers to make investments of any
           type to a financial institution.

3.11.4     The TRUSTEES may invest in immovable property subject to the
           conditions laid down by the REGISTRAR.

3.11.5     The TRUSTEES may obtain an overdraft from a bank, or borrow from an
           EMPLOYER or any other party, on such terms as they think fit, such
           sum as they approve for the purpose of completing any investment or
           meeting any temporary unforeseen cash shortage, and for this purpose
           may give such security as they decide provided that the aggregate
           amount of such loans does not at any time exceed one-half of the
           FUND'S gross income from all sources during the immediately preceding
           FINANCIAL YEAR.

<PAGE>

                                                                              12

           The reason for the amendment is to comply with the regulations
           relating to the management of the FUND.

           Certified that the above resolution has been adopted in accordance
           with the RULES of the FUND.

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
CHAIRMAN

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
TRUSTEE

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
PRINCIPAL OFFICER

<PAGE>

                        UNISERV EXECUTIVE PROVIDENT FUND

                                  12/8/29227/1

                                 AMENDMENT NO. 5

Extract from the minutes of a meeting of the Committee of Management of the
Uniserv Executive Provident Fund held at Randburg on 5 November 2001

RESOLVED: That with effect from 01 October 2001 the RULES of the FUND be amended
as follows:

RULE 1 - GENERAL

Paragraph 3 of RULE 1 shall be deleted and replaced by:

The Registered Office of the Fund shall be at Surrey Place, 291 Surrey Avenue,
Ferndale, Randburg 2194 and all payments due to or by the FUND shall be made at
the Registered Office of the FUND in the currency of the Republic of South
Africa or elsewhere, on such terms and in such manner as the Committee of
Management appointed in terms of the RULES shall decide.

RULE 2 - DEFINITIONS

The definition of APPROVED FUND shall be deleted and replaced by:

"APPROVED FUND" shall mean a fund approved by the Commissioner for Inland
Revenue and registered by the REGISTRAR as a pension, provident, retirement
annuity fund or preservation provident fund. It is specifically provided that
the PRINCIPAL EMPLOYER shall be a participating Employer in a preservation
provident fund before any payment is made to the preservation provident fund.

<PAGE>

                                                                               2

The following definition shall be added:

"ADJUDICATOR" shall mean the Pension Funds ADJUDICATOR appointed under section
30c (1) of the ACT.

The reason for the amendment is to change the registered address and to conform
to Financial Services Board and Commissioner for Inland Revenue requirements.

Certified that the above resolution has been adopted in accordance with the
RULES of the FUND.

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
CHAIRMAN
COMMITTEE OF MANAGEMENT

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
COMMITTEE MEMBER

/s/ SIGNATURE ILLEGIBLE
-------------------------------------
PRINCIPAL OFFICER

<PAGE>

                        UNISERV EXECUTIVE PROVIDENT FUND

                                  12/8/29227/1

                                 AMENDMENT NO.6

Extract from the minutes of a meeting of the Trustees of the Uniserv Executive
Provident Fund ("the FUND"), held at the registered address of the FUND on 11
November 2003.

RESOLVED

That with effect from 1 November 2003, the following amendments be made to the
RULES of the FUND:

1.   RULE 2 - Definitions

     The definitions "Fund" and "Revision Date" shall be deleted and replaced by
     the following definitions:

     " "FUND" shall mean the UTi Executive Provident Fund."

     " "Revision Date" shall mean 1 February in each subsequent year."

2.   RULE 3.13 - Appointment and Removal of Trustees

     RULE 13.13 shall be added to the RULES:

     "13.13 Appointment and Removal of Trustees

          Unless the FUND has been exempted from the requirement in terms of
          section 78(1)(b) of the ACT, the MEMBERS shall have the right to
          select from their own number at least one-half of the TRUSTEES as
          specified in RULE 13.1. Those TRUSTEES not so elected by the MEMBERS
          shall be appointed by the PRINCIPAL EMPLOYER.

<PAGE>

                                                                               2

          The PRINCIPAL EMPLOYER, in respect of EMPLOYER appointed TRUSTEES, may
          nominate an alternate to act during the absence of a TRUSTEE and may
          at any time remove a TRUSTEE or alternate by giving notice in writing
          to the TRUSTEES of his intention so to do. The MEMBERS, in respect of
          MEMBER elected TRUSTEES, may nominate an alternate to act during the
          absence of a TRUSTEE and may at any time remove a TRUSTEE or alternate
          by giving notice in writing to the TRUSTEES of their intention so to
          do. Where a vacancy arises as a result of the removal of a TRUSTEE, or
          resignation in accordance with RULE 10.4, the PRINCIPAL EMPLOYER
          and/or MEMBERS shall re-appoint or re-elect a replacement TRUSTEE,
          whichever is applicable, without delay."

Reasons for the amendment are:

(a)  to effect a change of name of the Fund so that the name of the Fund
     coincides with the name of the holding company;

(b)  to change the Revision Date of the Fund to tie in with the financial year
     end of the holding company;

(c)  to make provision for the election of member trustees from the ranks of
     members of the Fund.

Certified that the above Resolution has been adopted in accordance with the
RULES of the FUND.

/s/ SIGNATURE ILLEGIBLE                 24 June 2004
-------------------------------------   Date
CHAIRMAN

/s/ SIGNATURE ILLEGIBLE                 24 June 2004
-------------------------------------   Date
TRUSTEE

/s/ SIGNATURE ILLEGIBLE                 25 June 2004
-------------------------------------   Date
PRINCIPAL OFFICER

<PAGE>

FINANCIAL SERVICES BOARD

Rigel Park 446 Rigel Avenue South Erasmusrand Pretoria South Africa
PO Box 35855 Menlo Park Pretoria South Africa 0102
Tel(012) 428-8000 Fax (012)347-0221 e-Mail info@fsb.co.za
Int +27 12 428.8000 Int +27 12 347-0221 Toll free 0800110443
Internet: http.www.fsb.co.za

Enquiries : Betty Lesufi                D. Dialling No.: (012) 428 8165
Our ref :   12/8/29227                  Fax :            (012) 347 0221
Date :      08 November 2005            e-mail :         betty@fsb.co.za

CORNE SLOANE
GLENRAND M.I.B
PO BOX 3529
RANDBURG 2125

Dear Sir

AMENDMENT NO. 6: UNISERV EXECUTIVE PROVIDENT FUND

Your letter of 19 May 2004 refers. I have enclosed a copy of the Amendment no-6
duly approved and registered in terms of section 12(4) of the Pension Funds Act,
No. 24 of 1958.

Yours faithfully

-------------------------------------
Betty Lesufi
For: REGISTRAR OF PENSION FUNDS
Case no. 94315

Board Members:     Dr CDR Rustomjee (Chairperson) AM Sithole (Deputy
                   Chairperson) BM Hawksworth Ms JV Mogadime Ms CWN Molope Prof
                   PJ Sutherland Ms Lm Mojela Ms HS Wilton
Board Secretary:   SB Makgalemele
Executive Officer: RJG Barrow<PAGE>

                                                                    EXHIBIT 10.7

                              CONSOLIDATED RULES OF
                              UNISERV PENSION FUND

Extract from the minutes of the meeting of the Trustees of the Uniserv Pension
Fund held at RANDBURG on 20 NOVEMBER 2002.

RESOLVED:

That with effect from 1 November 2002 the Rules hereto attached shall form the
Rules governing the operation of the aforementioned fund.

The reason for the substitution is to consolidate the amendments numbers one to
ten, added in a new category of members, enhance the withdrawal benefit and to
comply with the requirements, form and format prescribed in the Pension Funds
Act 24 of 1956, as amended.

Certified that the above resolution has been adopted in accordance with a
resolution of the Board of Directors of Pyramid Freight (Proprietary) Limited.

                                        /s/ SIGNATURE ILLEGIBLE
                                        ----------------------------------------
                                        CHAIRMAN OF THE TRUSTEES

                                        /s/ SIGNATURE ILLEGIBLE
                                        ----------------------------------------
                                        PRINCIPAL OFFICER

                                        /s/ SIGNATURE ILLEGIBLE
                                        ----------------------------------------
                                        TRUSTEE

UNISERV PENSION FUND - NOVEMBER 2002

<PAGE>

                                      INDEX

<TABLE>
<CAPTION>
 RULE                                                                      PAGE
NUMBER                  DESCRIPTION                                       NUMBER
------                  -----------                                       ------
<S>      <C>                                                              <C>
1.       GENERAL                                                               1
2.       DEFINITIONS                                                         2-9
3.       OPERATION OF THE FUND                                             10-11
4.       MEMBERSHIP                                                        12-14
5.       CONTRIBUTIONS                                                        15
6.       RETIREMENT BENEFITS                                               16-19
7.       DEATH BENEFITS                                                    20-23
8.       WITHDRAWAL BENEFITS                                               24-25
9.       ADMINISTRATION OF THE FUND                                           26
10.      MANAGEMENT OF THE FUND                                            27-34
11.      ANNUAL FINANCIAL STATEMENTS & ACTUARIAL
         INVESTIGATIONS                                                       35
12.      TRANSFERS AND AMALGAMATIONS                                          36
13.      RECONSTRUCTION, TERMINATION AND
         PARTIAL TERMINATION OF THE FUND                                   37-39
14.      BENEFITS (GENERAL)                                                40-42
15.      VOLUNTARY ADDITIONAL CONTRIBUTIONS                                   43
16.      SURPLUS ACCOUNT                                                      44
</TABLE>

UNISERV PENSION FUND - NOVEMBER 2002

<PAGE>

                         FUND NAME: UNISERV PENSION FUND

RULE 1 - GENERAL

With effect from 1 November 2002 the FUND shall operate in terms of these RULES
as a defined benefit pension fund.

The Registered Office of the FUND shall be at Surrey Place, 291 Surrey Avenue,
Ferndale, Randburg 2194.

The Registration number of the FUND is: 12/8/13349

The Commissioner's reference number is: 18/20/4/34281

UNISERV PENSION FUND - NOVEMBER 2002

                                        1

<PAGE>

RULE 2 - DEFINITIONS CONTINUED

In these RULES where the context so admits, words defined in the ACT shall have
the meaning defined therein, the masculine gender shall include the feminine,
and vice versa; words signifying the singular number shall Include the plural
and vice versa and the following expressions shall have the following meaning:

ACT

The Pension Funds Act No. 24 of 1956 and the regulations framed thereunder, as
amended.

ACTUARIAL RESERVE VALUE

Shall mean the accrued actuarial liability with allowance for future salary
increases, as determined by the VALUATOR.

ACTUARIAL SURPLUS

The surplus If any which may arise as determined by the ACT.

ADJUDICATOR

The Pension Funds ADJUDICATOR appointed under section 30C(1) of the ACT.

ADMINISTRATOR

The corporate body appointed by the TRUSTEES to administer the FUND in terms of
the RULES.

APPROVED FUND

Any pension, provident, retirement annuity or preservation pension fund approved
by the COMMISSIONER. It is specifically provided that the PRINCIPAL EMPLOYER
shall be a participating employer in a preservation pension fund before any
payment is made to the preservation pension fund.

AUDITOR

An AUDITOR registered under the Public Accountants & Auditors Act no. 80 of
1991, as amended from time to time, and who has been appointed by the TRUSTEES
as AUDITOR to the FUND, subject to the provisions of section 9 of the ACT

BOARD OF TRUSTEES

The Board of Trustees constituted under these Rules and referred to unless the
contrary intention appears as TRUSTEES, or the BOARD.

UNISERV PENSION FUND - NOVEMBER 2002

                                        2

<PAGE>

RULE 2 - DEFINITIONS CONTINUED

CATEGORY A

Shall mean EMPLOYEES who are members of the National Bargaining Council for Road
Freight Industry and notified to the TRUSTEES in writing.

CATEGORY B

Shall mean all the other EMPLOYEES other than those in CATEGORY A designated as
such by the PRINCIPAL EMPLOYER and notified to the TRUSTEES in writing.

COMMENCEMENT DATE

1 March 1976 (the date on which the FUND commenced).

COMMISSIONER

The COMMISSIONER for South African Revenue Services.

COMPLAINT

A COMPLAINT, lodged in writing with the TRUSTEES by a specific COMPLAINANT,
relating either to the administration of the FUND or its investments, or the
application or interpretation of the RULES, and containing specific allegations
as contemplated in the definition of COMPLAINT in section 1 of the ACT.

COMPLAINANT

In relation to the FUND, means a MEMBER or former member, a beneficiary or
former beneficiary, an EMPLOYER, a TRUSTEE or former trustee, or any other
person having an interest in the COMPLAINT.

DEPENDANT

As defined in section 1 of the ACT, in relation to a MEMBER, means -

     a)   a person in respect of whom the MEMBER is legally liable for
          maintenance;

     b)   a person in respect of whom the MEMBER is not legally liable for
          maintenance,

          if such person -

          i)   was, in the opinion of the TRUSTEES, upon the death of the MEMBER
               in fact dependent on the MEMBER for maintenance;

          ii)  is the SPOUSE of the MEMBER, including a party to a customary
               union according to Black law and custom or a union recognised as
               a marriage under the tenets of any Asiatic religion;

UNISERV PENSION FUND - NOVEMBER 2002

                                        3

<PAGE>

RULE 2 - DEFINITIONS CONTINUED

          iii) is a child of the MEMBER, including a posthumous child, an
               adopted child or an illegitimate child.

     c)   a person in respect of whom the MEMBER would have become legally
          liable for maintenance, had the MEMBER not died.

DEPOSIT ADMINISTRATION POLICY

Shall have the meaning ascribed to it by the INSURER, be approved as a policy of
assurance by the REGISTRAR and shall also mean any other form of investment
policy or contract approved by the REGISTRAR and issued by the INSURER in the
name of the FUND. Such policy or policies shall contain all of the provisions
set out in Annexure 1 to these RULES.

DISABILITY BENEFIT SCHEME

An associated scheme underwritten by an INSURER which provides disability income
benefits.

EMPLOYEE

Any person in the service of the EMPLOYER.

EMPLOYER

The PRINCIPAL EMPLOYER, and any subsidiary of the PRINCIPAL EMPLOYER, as may be
admitted to the FUND from time to time by the TRUSTEES and, in relation to any
particular MEMBER, the particular EMPLOYER by whom such MEMBER is for the time
being employed.

EMPLOYER'S SURPLUS ACCOUNT

The Account referred to in the ACT and dealt with in terms of Rule 16.

ENTRY DATE

In relation to EMPLOYEES of any particular EMPLOYER the COMMENCEMENT DATE, or
the date on which such EMPLOYEES first participated in the FUND.

EXECUTIVE

Shall mean an EMPLOYEE designated as such by the PRINCIPAL EMPLOYER and notified
to the TRUSTEES in writing.

UNISERV PENSION FUND - NOVEMBER 2002

                                        4

<PAGE>

RULE 2 - DEFINITIONS CONTINUED

FINANCIAL YEAR

Any period commencing on a REVISION DATE and extending to the next following
REVISION DATE.

FINAL PENSIONABLE SALARY

Shall mean the average of the PENSIONABLE SALARY of the MEMBER declared during
the 36 months of MEMBERSHIP prior to the date of retirement.

FUND

UNISERV PENSION FUND.

FUND INTEREST

A fair rate of return as determined by the TRUSTEES in consultation with the
VALUATOR taking into account the returns earned on the underlying assets of the
FUND and the costs and charges against the FUND'S returns and assets.

FUND YEAR

Shall mean the period 1 March 1993 - 28 February 1994 and each following
twelve-month period from 1 March 1994.

GROUP INSURANCE POLICY

The policy or policies issued by an INSURER to the FUND in terms of which part
or all of the benefits of the FUND may be secured.

INSURER

A person who is registered as a long-term INSURER in terms of the Insurance Act
no. 27 of 1943 and/or the Long Term Insurance Act of 1998, whichever applies.

INVESTMENT ACCOUNT

The account maintained by the TRUSTEES in the name of the FUND to record monies
invested for the provision of benefits in terms of the RULES, the value of such
moneys being the net assets of the FUND as determined in accordance with
Schedule F and regulation 12 (2) (b) (iv) of the ACT.

UNISERV PENSION FUND - NOVEMBER 2002

                                        5

<PAGE>

RULE 2 - DEFINITIONS CONTINUED

INVESTMENT POLICY

An investment policy issued by any insurer or other authorised investment house
and approved by the REGISTRAR.

MEMBER

An EMPLOYEE who has been admitted to MEMBERSHIP of the FUND and who has neither
retired nor otherwise ceased to be a MEMBER in terms of these RULES, has
satisfied the eligibility conditions of the FUND and who has been recorded as a
MEMBER. The term MEMBERSHIP shall have a corresponding meaning.

MEMBER SURPLUS ACCOUNT

The Account referred to in the ACT and dealt with in terms of RULE 16.

MINISTER

The Minister of Finance.

NORMAL RETIREMENT AGE

In relation to a MEMBER, means age 60.

NORMAL RETIREMENT DATE

In relation to a MEMBER, means the last day of the month in which he attains the
NORMAL RETIREMENT AGE.

OPERATIVE DATE

In relation to a MEMBER, means the date on which his EMPLOYER is first admitted
to participation in the FUND, or the date on which the MEMBER becomes eligible
to join the FUND as a result of an amendment to the RULES, whichever date is
applicable.

PENSIONABLE SALARY

In relation to a MEMBER, means the annual equivalent of the MEMBER'S basic
weekly, fortnightly or monthly remuneration and/or such other emoluments that
the TRUSTEES may consider to be pensionable. In the event of a reduction in
PENSIONABLE SALARY a MEMBER may, with the consent of the PRINCIPAL EMPLOYER and
the TRUSTEES, elect to retain such higher PENSIONABLE SALARY amount as was
applicable immediately prior to the reduction and all contributions and benefits
shall be based on such previous higher PENSIONABLE SALARY.

UNISERV PENSION FUND - NOVEMBER 2002

                                        6

<PAGE>

RULE 2 - DEFINITIONS CONTINUED

In relation to a MEMBER who is in receipt of an income under the DISABILITY
BENEFIT SCHEME, means the amount of PENSIONABLE SALARY on which the benefit
under that scheme was determined, and increased from time to time in proportion
to the increases in the benefit granted by that scheme.

PENSIONABLE SERVICE

In relation to a MEMBER, means the number of years' SERVICE (where each
completed month shall count as 1/12th of a year) from the date on which
contributions to the FUND commenced by or on behalf of the MEMBER, to the
effective date of any calculation after that date on which the MEMBER leaves the
FUND.

PRINCIPAL EMPLOYER

PYRAMID FREIGHT (PTY) LTD.

PRINCIPAL OFFICER

The Principal Executive Officer referred to in section 8 of the ACT, who may be
a member of a body managing the affairs of the FUND or controlling the FUND.

REGISTRAR

The REGISTRAR, or Deputy REGISTRAR, of Pension Funds as referred to in section 3
of the ACT.

RESERVE ACCOUNT

The Account from where all FUND expenses are paid, such as bank fees,
administration fees and charges, audit fees, Financial Services Board levies,
Regional Services Council levies, Retirement Fund Taxes and any other
appropriate costs and charges relating to the administration of the FUND.
Amounts referred to in RULE 8.4 (d) will also be paid from this account and
dealt with as provided for in that section. This account will be credited with
bank account interest and contributions payable by the EMPLOYER'S contributions.
At the end of the FUND YEAR any excess in the RESERVE ACCOUNT may be apportioned
to MEMBERS and those who exit the FUND. Any deficit in the RESERVE ACCOUNT shall
be settled against the EMPLOYER'S CONTRIBUTIONS in the month following the FUND
YEAR.

This account will also be credited with the amounts as referred to in RULE 8.4
(d).

UNISERV PENSION FUND - NOVEMBER 2002

                                        7

<PAGE>

RULE 2 - DEFINITIONS CONTINUED

REVISION DATE

1 March in each year after the COMMENCEMENT DATE.

RULES

These RULES as registered and amended from time to time and shall include,
unless the contrary intention appears,

     a)   any Rules, terms and conditions of any policies of insurance
          underwriting any risk benefits under these RULES;

     b)   any Rules, terms and conditions of any investment policies wherein any
          assets of the FUND are held.

SERVICE

In relation to a MEMBER, means continuous full-time employment with the
EMPLOYER.

SPOUSE

In relation to a MEMBER, means a person who:

     a)   is married to the MEMBER in a civil law marriage;

     b)   is together with the MEMBER, a party to a customary union according to
          Black law and custom or a union recognised as a marriage under the
          tenets of any Asiatic religion;

     c)   was not married to the MEMBER and with whom the MEMBER has been
          cohabiting and the TRUSTEES have acknowledged in writing as being
          accepted as the MEMBER'S SPOUSE for the purpose of this definition;

     d)   is of the same sex living with the MEMBER in respect of whom the
          TRUSTEES are satisfied that the parties cohabited as if married, and
          was, in the opinion of the TRUSTEES, upon the death of the MEMBER in
          fact in a co-dependent relationship of a permanent nature with the
          MEMBER. Further, the TRUSTEES must have acknowledged such union in
          writing. Subject to the proviso that any such union shall have endured
          for a period of at least two years prior to a MEMBER"S death or
          retirement.

TRANSFER VALUE

The amount transferred from any APPROVED FUND on behalf of a MEMBER in
accordance with the provisions of section 14 of the ACT and shall include any
individual transfers from any other funds.

TRUSTEES

The TRUSTEES or their alternates appointed in terms of the RULES, and in the
event of the FUND being controlled by a BOARD OF TRUSTEES or a Management
Committee, any

UNISERV PENSION FUND - NOVEMBER 2002

                                        8

<PAGE>

RULE 2 - DEFINITIONS CONTINUED

reference to the TRUSTEES shall be construed to refer to such Management
Committee or BOARD OF TRUSTEES as the case may be.

TVC

In relation to the RULES, represents the phrase "Transfers and Voluntary
Contributions".

TVC ACCUMULATION

In relation to a MEMBER, means his share of the TVC SECTOR, as determined by the
VALUATOR.

TVC SECTOR

A portion of the INVESTMENT ACCOUNT set aside to secure paid-up benefits in
respect of former MEMBERS and past service benefits in respect of voluntary
additional contributions including amounts transferred by or on behalf of
MEMBERS from other approved pension or provident funds.

VALUATOR

An Actuary, who is a Fellow of the Institute of Actuaries of England or of the
Faculty of Actuaries in Scotland, or of the Society of Actuaries of America, or
of any other institute, faculty, society or chapter of actuaries approved by the
MINISTER. Reference to an Actuary shall mean reference to a VALUATOR, and vice
versa

UNISERV PENSION FUND - NOVEMBER 2002

                                        9

<PAGE>

RULE 3 - OPERATION OF THE FUND

3.1  OBJECTS OF THE FUND

     The object of the FUND is to provide retirement and other benefits for
     MEMBERS and death benefits for the DEPENDANTS of such MEMBERS.

3.2  LEGAL STATUS

     Upon registration under the ACT, the FUND shall become a separate legal
     person and entity distinct from its MEMBERS, capable of suing and being
     sued in its own name, and shall be the lawful owner of its property,
     movable or immovable, and all assets of the FUND shall be registered in the
     name of the FUND.

3.3  INSPECTION OF RULES

     Each MEMBER shall be entitled to inspect and make extracts from the RULES
     and other documents prepared in terms of sections 15, 16 and 17 of the ACT
     at reasonable times by appointment with the PRINCIPAL OFFICER, and shall on
     request, and payment of a reasonable fee be issued with a copy of the RULES
     and\or documents prepared in terms of section 15 of the ACT.

3.4  AMENDMENT TO THE RULES

     a)   Subject to the provisions of the ACT, and the requirements of the
          REGISTRAR, and further subject to the approval of the COMMISSIONER the
          TRUSTEES may make new RULES, or after or repeal any existing RULES,

     b)   The provisions of section 12 of the ACT shall apply in respect of any
          amendment or rescission, alteration or addition to the RULES.

     c)   Any amendment to the RULES shall not become effective until registered
          by the REGISTRAR and approved by the COMMISSIONER, unless the
          Resolution amending the Rules indicates the contrary.

     d)   The provisions of this RULE will be always subject to the proviso that
          no amendment which affects the EMPLOYER'S contributions to the FUND
          may be made without the consent of the EMPLOYER.

UNISERV PENSION FUND - NOVEMBER 2002

                                       10

<PAGE>

RULE 3 - OPERATION OF THE FUND CONTINUED

3.5  DISPUTE RESOLUTION

     a)   Any COMPLAINANT who has any COMPLAINT against the FUND shall lodge
          that COMPLAINT in writing with the TRUSTEES and the EMPLOYER.

     b)   On behalf of the FUND the TRUSTEES in consultation with the EMPLOYER
          shall give due and proper consideration to any COMPLAINT and shall
          issue a reply thereto within 30 days of receipt thereof.

     c)   Any dispute which may arise in regard to any claims under these RULES,
          or the Rules themselves, shall be referred to the TRUSTEES.

     d)   If the TRUSTEES are unable to make a decision in regard to any
          COMPLAINT or do not issue a reply thereto within 30 days of receipt
          thereof, or if the COMPLAINANT is not satisfied with the reply of the
          TRUSTEES, the COMPLAINANT may lodge the COMPLAINT with the ADJUDICATOR
          whereafter the provisions of sections 30A through to 30X of the ACT
          shall apply.

3.6  CURRENCY

     All contributions due to the FUND and benefits paid from the FUND in terms
     of the RULES shall be payable in South African currency at the registered
     office of the FUND.

UNISERV PENSION FUND - NOVEMBER 2002

                                       11

<PAGE>

RULE 4 - MEMBERSHIP

4.1  JOINING THE FUND

     a)   An EMPLOYEE who has not attained NORMAL RETIREMENT AGE, shall become
          eligible to join the FUND on appointment to the permanent staff of the
          EMPLOYER, whereupon the conditions below will apply.

     b)   An EMPLOYEE who is eligible to join the FUND and who commenced SERVICE
          before the OPERATIVE DATE shall have the option to join the FUND on
          that date or on an ENTRY DATE within 12 months thereof and should he
          or she not exercise that option within this twelve month period, he or
          she will not be permitted to join the FUND thereafter.

     c)   An EMPLOYEE who commenced SERVICE on or after the OPERATIVE DATE shall
          be required as a condition of employment to join the FUND on the ENTRY
          DATE coincident with or next following the date on which he becomes
          eligible in terms of RULE 4.1(a).

     d)   An EMPLOYEE who is not eligible to join the FUND in terms of RULE
          4.1(a) may at the request of the EMPLOYER become a MEMBER on such
          conditions, and with effect from such date, as may be agreed to by the
          TRUSTEES and, where necessary, approved by the COMMISSIONER.

4.2  MEMBERSHIP CONDITIONS

     a)   Each MEMBER shall comply with such requirements as the TRUSTEES may
          stipulate in the RULES.

     b)   Each MEMBER shall be bound by the RULES of the FUND and the Rules of
          any GROUP INSURANCE POLICY, or investment Policy which underwrites any
          benefit in terms of these RULES.

     c)   Each MEMBER shall, on joining the FUND, authorise the EMPLOYER to
          deduct from his remuneration the amount of any contributions payable
          by the MEMBER in terms of the RULES.

     d)   Any contributions required from a MEMBER in terms of RULE 5 shall
          commence on the date he joins the FUND, or on such other date as may
          be specified in RULE 4.1, and cease on the date that the MEMBER
          actually retires or otherwise ceases to be a MEMBER in terms of RULE
          4.3.

4.3  CESSATION OF MEMBERSHIP

     a)   A MEMBER may not withdraw from the FUND except upon termination of
          SERVICE or on ceasing to be eligible for MEMBERSHIP.

UNISERV PENSION FUND - NOVEMBER 2002

                                       12
<PAGE>

RULE 4 - MEMBERSHIP CONTINUED

     b)   If a MEMBER ceases to be eligible for MEMBERSHIP and this is not as a
          result of being given the option to join another APPROVED FUND in
          which his EMPLOYER participates, his ACTUARIAL RESERVE VALUE shall be
          used to purchase a paid-up benefit under the TVC SECTOR.

     c)   If a MEMBER ceases to be eligible for MEMBERSHIP as a result of being
          given the option to become a member of an APPROVED FUND set up in
          terms of a collective agreement as specified in the Labour Relations
          Act (Act no. 66 of 1995), his ACTUARIAL RESERVE VALUE plus his TVC
          ACCUMULATION, if such does not form part of his ACTUARIAL RESERVE
          VALUE, shall be transferred to such transferee fund in accordance with
          Section 14 of the ACT, the provisions of current Income Tax
          legislation, and the provisions of RULE 4.3(f).

     d)   If a MEMBER ceases to be eligible for MEMBERSHIP as a result of being
          given the option to become a member of another approved pension or
          provident fund of the EMPLOYER, his ACTUARIAL RESERVE VALUE plus his
          TVC ACCUMULATION, if such does not form part of his ACTUARIAL RESERVE
          VALUE, shall be transferred to such transferee fund, in accordance
          with Section 14 of the ACT, the provisions of current Income Tax
          legislation, and the provisions of RULES 4.3(e) and 4.3(f).

     e)   With the consent of the TRUSTEES, the MEMBER may elect to transfer
          such portion of his ACTUARIAL RESERVE VALUE as is equal to the cash
          withdrawal benefit specified in RULE 4.3(f) to a retirement annuity
          fund approved by the COMMISSIONER, and the balance of his ACTUARIAL
          RESERVE VALUE shall be transferred to the transferee fund in
          accordance with the provisions of Section 14 of the ACT and RULE
          4.3(d).

     f)   Notwithstanding anything contrary contained in the RULES, if the fund
          is a pension fund and the transferee fund contemplated in RULES 4.3(c)
          or 4.3(d) or 4.3(e) is a provident fund, the MEMBER'S cash withdrawal
          benefit shall be

          deemed to be an amount equal to his ACTUARIAL RESERVE VALUE plus his
          TVC ACCUMULATION.

4.4  DISABLEMENT IN SERVICE

     If there is a DISABILITY BENEFIT SCHEME and a MEMBER becomes entitled to an
     income benefit thereunder, he may remain a MEMBER of the FUND, whereby
     contributions on his behalf and his entitlement to any of the benefits
     payable in terms of the RULES shall continue.

4.5  BREAK IN SERVICE

     Where a MEMBER is temporarily absent from SERVICE for a period not
     exceeding 2 years the MEMBER and/or the EMPLOYER may, with the consent of
     the

UNISERV PENSION FUND - NOVEMBER 2002

                                       13

<PAGE>

RULE 4 - MEMBERSHIP CONTINUED

     TRUSTEES, suspend payment of any contributions due by him to the FUND for
     the duration of his absence.

4.6  PROOF OF AGE

     Proof of age to the satisfaction of the TRUSTEES is required in respect of
     a MEMBER, and of any other person to whom a benefit may be payable in terms
     of the RULES, before the payment of any benefit can be effected, unless the
     TRUSTEES specify otherwise.

UNISERV PENSION FUND - NOVEMBER 2002

                                       14

<PAGE>

RULE 5 - CONTRIBUTIONS

5.1  CONTRIBUTIONS

     The following percentages of 1/12th of PENSIONABLE SALARY shall be payable
     monthly to the FUND:

<TABLE>
<S>                                   <C>
by a CATEGORY A MEMBER                6% minimum or whatever level decided by
                                      the National Bargaining Council for the
                                      Road Freight Industry.

by a CATEGORY B MEMBER                6%

Deemed Contributions by EXECUTIVES
and Senior EXECUTIVES                 7,5%

by the EMPLOYER                       The balance of the cost of the benefits
                                      provided by the FUND in respect of
                                      MEMBERS; inclusive of the cost of
                                      administration and the costs of benefits
                                      under the GROUP LIFE ASSURANCE POLICY
                                      and the DISABILITY BENEFIT SCHEME.
</TABLE>

5.2  CAPPING OF EMPLOYER CONTRIBUTIONS

     Should the costs of the risk benefits and/or the costs of administration
     increase above the percentage contribution mentioned, the EMPLOYER in
     consultation with the EMPLOYEES and TRUSTEES shall have the right to reduce
     the risk benefits payable, or utilise a portion of the EMPLOYEE'S
     contribution to make payment of the increased costs. The EMPLOYER may, at
     its sole discretion increase the monthly contribution payable by it.

5.3  The EMPLOYER will contribute to the FUND at the rate which is attested by
     the VALUATOR as being necessary to provide the benefits as outlined herein
     after taking into account any contributions made by the MEMBERS.

5.4  The recommended contribution made by the EMPLOYER may be altered by the
     TRUSTEES in consultation with the VALUATOR should he find that, when
     valuing the FUND, the rate is not sufficient, or more than sufficient, to
     provide the benefits.

5.6  No contributions will be payable in respect of a MEMBER when he ceases to
     be a MEMBER.

5.7  Additional Voluntary Contributions shall apply in terms of RULE 15.

UNISERV PENSION FUND - NOVEMBER 2002

                                       15

<PAGE>

RULE 6 - RETIREMENT BENFITS

6.1  BENEFIT ON NORMAL RETIREMENT

     The amount of annual PENSION payable to a MEMBER on his NORMAL RETIREMENT
     AGE shall be equal to:

     a)   MEMBERS OTHER THAN EXECUTIVES AND SENIOR EXECUTIVES 2% FINAL
          PENSIONABLE SALARY for each completed year and month of PENSIONABLE
          SERVICE.

     b)   EXECUTIVES AND SENIOR EXECUTIVES PRIOR TO 30.6. 1991 2% of FINAL
          PENSIONABLE SALARY for each completed year and month of PENSIONABLE
          SERVICE, provided that the benefit shall not be less than 75% of the
          MEMBER'S FINAL PENSIONABLE SALARY.

     c)   EXECUTIVES AND SENIOR EXECUTIVES APPOINTED ON OR AFTER 1.7. 1991 2% of
          FINAL PENSIONABLE SALARY for each year and month of PENSIONABLE
          SERVICE up to the date of appointment as an EXECUTIVE

          PLUS

          3% of FINAL PENSIONABLE SALARY for each year and month of PENSIONABLE
          SERVICE from the date of appointment as an EXECUTIVE to the date of
          retirement, provided that the total benefit shall not exceed 75% of
          FINAL PENSIONABLE SALARY.

6.2  BENEFIT ON EARLY RETIREMENT

     a)   With the consent of the BOARD OF TRUSTEES, and by agreement with the
          EMPLOYER a MEMBER, provided he or she is within ten years of his
          NORMAL RETIREMENT AGE, may elect to retire early.

     b)   In this event the MEMBER shall be entitled to a pension determined in
          accordance with the formula contained in RULE 6.1 for the period of
          PENSIONABLE SERVICE up to the date of early retirement, and the amount
          so calculated shall be reduced by a percentage as follows:

          i)   MEMBERS other than EXECUTIVES or Senior EXECUTIVES appointed
               prior to 30 June 1991;

UNISERV PENSION FUND - NOVEMBER 2002

                                       16

<PAGE>

RULE 6 - RETIREMENT BENEFITS

               0,25% per month by which the early retirement date precedes the
               MEMBER'S NORMAL RETIREMENT DATE.

          ii)  EXECUTIVES and Senior EXECUTIVES appointed prior to 1 July 1991;
               0,5% per month by which the early retirement date precedes the
               MEMBER'S NORMAL RETIREMENT DATE.

6.3  PENSION ON COMPULSORY RETIREMENT / ILL - HEALTH EARLY RETIREMENT

     If the BOARD OF TRUSTEES in consultation with the EMPLOYER have directed
     that a MEMBER must take early ill-health retirement (after considering
     medical evidence) are satisfied that the MEMBER is unable to continue in
     SERVICE due to ill-health, the MEMBER may retire at any time prior to
     NORMAL RETIREMENT DATE irrespective of his or her age at the time of such
     ill-health early retirement. The MEMBER shall be entitled to the benefit
     outlined in RULE 6.2. b) above. The BOARD OF TRUSTEES, in its absolute
     discretion may direct, that for the purposes of this RULE, no reduction of
     the benefit shall apply. Should granting of a benefit in terms of this RULE
     require an additional contribution, as determined by the VALUATOR, then
     such additional contribution shall be paid to the FUND by the EMPLOYER.

     The BOARD OF TRUSTEES may, after studying evidence of health, grant an
     ill-health benefit equal to the benefit outlined in RULE 6.2 b) above,
     without any reduction, at any time.

6.4  PENSION ON LATE RETIREMENT

     If, with the consent of the BOARD OF TRUSTEES and by agreement with his
     EMPLOYER a MEMBER elects to remain in the employ of an EMPLOYER after the
     attainment of his NORMAL RETIREMENT AGE then either,

     a)   With the EMPLOYERS' agreement, the MEMBER and EMPLOYER contributions
          shall continue to be paid. The MEMBER shall then receive a PENSION in
          accordance with RULE 6.1, at his actual date of retirement based on
          his FINAL PENSIONABLE SALARY and PENSIONABLE SERVICE at that date, or

     b)   The MEMBER and EMPLOYER contributions cease to be paid from the
          MEMBER'S NORMAL RETIREMENT DATE.

UNISERV PENSION FUND - NOVEMBER 2002

                                       17

<PAGE>

RULE 6 - RETIREMENT BENEFITS

     The MEMBER shall then receive a PENSION equal to that which he would have
     received had he retired at his NORMAL RETIREMENT DATE, increased by 0,75%
     per month for each month between his NORMAL RETIREMENT DATE and the date of
     actual retirement.

6.5  MODE OF PAYMENT

     PENSIONS are payable in arrear in equal monthly instalments.

6.6  PERIOD OF PAYMENT OF PENSION

     All PENSIONS are payable for the lifetime of the PENSIONER. Should the
     PENSIONER die before he has received 60 monthly PENSION payments, the
     PENSION will continue until 60 monthly payments have been made.

6.7  ALTERNATIVE GUARANTEED PERIOD

     With the consent of the TRUSTEES, which may not be reasonably withheld, the
     MEMBER may at any time before his retirement elect that his PENSION under
     the FUND, instead of being payable for a minimum period of sixty months, be
     payable at a reduced rate for a longer guaranteed period or alternatively
     be payable at an increased rate for a shorter guaranteed period. If an
     option under this RULE is exercised, then any reference elsewhere in the
     RULES to sixty monthly payments of the MEMBER'S PENSION shall be amended
     accordingly.

6.8  COMMUTATION OR CONVERSION

     Within 30 days of the retirement benefit becoming due to a MEMBER he may
     elect to convert into cash up to one-third of any pension payable, or the
     full amount if so permitted in terms of Income Tax legislation,

6.9  JOINT PENSION

     In lieu of the PENSION to which he is entitled, a MEMBER may at any time
     before retirement elect a PENSION that will continue to be payable for as
     long as he and / or his designated DEPENDANTS are alive. In this event the
     PENSION on his own life will be adjusted in accordance with the ages of
     himself and his designated DEPENDANT and the amount of PENSION to be paid
     to the survivor.

UNISERV PENSION FUND - NOVEMBER 2002

                                       18

<PAGE>

RULE 6 - RETIREMENT BENEFITS

6.10 PURCHASE OF PENSIONS

     All PENSIONS payable in terms of RULE 6 shall be purchased from an INSURER
     and shall, thereafter, be subject to and paid in accordance with the terms
     and conditions of the policy document issued by the INSURER to the retired
     MEMBER. The PENSION shall be purchased in the name of the MEMBER, and
     following the purchase, the FUND shall have no further liability to the
     MEMBER.

6.11 PENSION INCREASES

     On the advice of the VALUATOR the TRUSTEES may at their discretion, and
     subject to approval of the PRINCIPAL EMPLOYER, increase the amount of
     PENSION payable to any PENSIONER after his retirement.

6.12 BENEFIT IN RESPECT OF MONEYS HELD IN TVC SECTOR

     In respect of a MEMBER who is entitled to a benefit from the TVC SECTOR,
     the benefit payable shall be a pension of the MEMBER'S choice purchased
     from an INSURER from his TVC ACCUMULATION.

UNISERV PENSION FUND - NOVEMBER 2002

                                       19

<PAGE>

RULE 7 - DEATH BENEFITS CONTINUED

7.1  DEATH IN SERVICE BEFORE NORMAL RETIREMENT DATE

     On the death of a MEMBER in SERVICE before NORMAL RETIREMENT DATE there
     shall be payable from the FUND to his BENEFICIARIES:

     a)   an annuity that can be purchased from an INSURER with seven times the
          MEMBER'S PENSIONABLE SALARY less the amount payable by the Uniserv
          Unapproved Group Life Scheme, in respect of SENIOR EXECUTIVES;

     b)   an annuity that can be purchased from an INSURER with six times the
          MEMBER'S PENSIONABLE SALARY less the amount payable by the Uniserv
          Unapproved Group Life Scheme, in respect of EXECUTIVES;

     c)   an annuity that can be purchased from an INSURER with five times the
          MEMBER'S PENSIONABLE SALARY, in respect of CATEGORY A and CATEGORY B
          MEMBERS.

          In addition to RULES 7.1 (a) (b) and (c) an annuity that can be
          purchased from an INSURER with the MEMBER'S contribution plus interest
          at the rate provided for in RULE 8.1.

          The benefits designated in RULES 7.1 (a) (b) and (c) are subject to
          the provisions of RULES 7.1(d) and 7.1(e).

     d)   Where a MEMBER is required to produce evidence of insurability at the
          request of the INSURER of the GROUP INSURANCE POLICY and such evidence
          results in the amount of death benefit reassured in respect of such
          MEMBER being reduced or wholly or partly declined, the amount of death
          benefit payable by the FUND shall be likewise reduced.

     e)   Where the death benefit reassured in respect of a MEMBER is reduced or
          wholly or partly declined because the MEMBER did not produce evidence
          of health at the request of the INSURER of the GROUP INSURANCE POLICY,
          the amount of death benefit payable by the FUND shall be likewise
          reduced.

          Where the death benefit, or any other benefit, is reduced as a result
          of any amounts due by the MEMBER in respect of Income Tax, Housing
          Loans, Divorce Orders, Maintenance orders, written acknowledgement in
          terms of Section 37D of the ACT, or any other similar amounts due and
          payable by the MEMBER, the

UNISERV PENSION FUND - NOVEMBER 2002

                                       20

<PAGE>

RULE 7 - DEATH BENEFITS CONTINUED

     benefit payable from the FUND will be reduced by the amount so paid over by
     the FUND.

7.2  DEATH IN SERVICE AFTER NORMAL RETIREMENT DATE

     It a MEMBER dies in SERVICE after his NORMAL RETIREMENT AGE, the benefit
     payable shall be equal to the amount to which the MEMBER would have become
     entitled, had he retired at his date of death, assuming that he had
     elected to commute one - third of his PENSION for cash.

     The balance of the benefit will be applied to purchase a PENSION payable to
     his SPOUSE or DEPEDANTS. The balance of the PENSION will be paid until
     sixty monthly payments have been made. After the sixty instalments have
     been paid a SPOUSE'S PENSION, equal to 50% of the PENSION before the
     commutation referred to in the first paragraph of this RULE plus increases
     granted in terms of RULE 6.11, shall be payable for the lifetime of the
     SPOUSE.

7.3  DEATH OF A PENSIONER

     On the death of a PENSIONER before sixty monthly instalments have been
     paid, the PENSION will continue to be paid until sixty monthly payments
     have been made. After the sixty instalments have been paid, a SPOUSE'S
     PENSION equal to 50% of the PENSION, before any commutation option was
     exercised to which the PENSIONER became entitled at the date of retirement,
     plus increases granted in terms of RULE 6.11 shall be payable for the
     lifetime of the SPOUSE.

     Provided that the benefit in terms of this RULE shall be reduced by the
     PENSION equivalent, as determined by the VALUATOR, of the benefit payable
     by the Uniserv Unapproved Group Life Scheme on the death of a PENSIONER.

     The BENEFICIARY shall have the right to elect that all or part of the
     benefits designated in RULE 7.1 shall be paid in as a lump sum.

7.4  BENEFIT IN RESPECT OF MONEYS HELD IN TVC SECTOR

     In respect of a MEMBER who is entitled to a benefit from the TVC SECTOR,
     the benefit payable, in addition to any other benefit payable in terms of
     Rule 7, shall be a retirement benefit amount equal to his TVC ACCUMULATION.

7.5  PAYMENT OF BENEFITS

     Unless the death benefit is a pension payable (in terms of the RULES) to
     the MEMBER'S SPOUSE, the benefit payable shall be dealt with in the
     following manner:

     a)   If the FUND within twelve months of the death of the MEMBER becomes
          aware of or traces a DEPENDANT or DEPENDANTS of the MEMBER, the
          benefit shall be

UNISERV PENSION FUND - NOVEMBER 2002

                                       21

<PAGE>

RULE 7 - DEATH BENEFITS CONTINUED

          paid to such DEPENDANTS in such proportions as may be deemed equitable
          by the TRUSTEES.

     b)   If the FUND does not become aware of or cannot trace any DEPENDANT of
          the MEMBER within twelve months of the death of the MEMBER, and the
          MEMBER has designated in writing to the FUND, a nominee who is not a
          dependant of the MEMBER, to receive the benefit or such portion of the
          benefit as is specified by the MEMBER in writing to the FUND, the
          benefit or such portion of the benefit shall be paid to such nominee:
          provided that where the aggregate amount of the debts in the estate of
          the MEMBER exceeds the aggregate amount of the assets in his estate,
          so much of the benefit as is equal to the difference between such
          aggregate amount of debts and such aggregate amount of assets shall be
          paid into the estate and the balance of such benefit or the balance of
          such portion of the benefit as specified by the MEMBER in writing to
          the FUND shall be paid to the nominee.

     c)   If a MEMBER has a DEPENDANT and the MEMBER has also designated in
          writing to the FUND a nominee to receive the benefit or such portion
          of the benefit as is specified by the MEMBER in writing to the FUND,
          the FUND shall within twelve months of the death of such MEMBER pay
          the benefit or a portion thereof either to the DEPENDANT or nominee,
          or all or any such DEPENDANTS or nominees, as the TRUSTEES may deem
          equitable: provided that this paragraph shall only apply to the
          designation of a nominee after 30th June 1989.

     d)   If the FUND does not become aware of or cannot trace any DEPENDANT of
          the MEMBER within twelve months of the death of the MEMBER and if the
          MEMBER has not designated a nominee or if the MEMBER has designated a
          nominee to receive a portion of the benefit in writing to the FUND,
          the benefit or the remaining portion of the benefit after payment to
          the designated nominee,

UNISERV PENSION FUND - NOVEMBER 2002

                                       22

<PAGE>

RULE 7 - DEATH BENEFITS CONTINUED

          shall be paid into the estate of the MEMBER or, if no inventory in
          respect of the MEMBER has been received by the Master of the High
          Court in terms of section 9 of the Estates Act no. 66 of 1965, into
          the Guardian's Fund.

     e)   Should the TRUSTEES decide that a DEPENDANT or nominee is unable to
          protect himself or manage his own affairs, or is a beneficiary under
          an existing registered trust fund as contemplated in the Trust
          Property Control Act no. 57 of 1988, the TRUSTEES may direct that the
          benefit be paid to -

          i)   the guardian, tutor or curator of such beneficiary already
               appointed or to be appointed by the Master of the Supreme Court,

               OR

          ii)  the trustees for the time being of the said trust fund, or such
               other like trust fund being or about to be created for the
               benefit of the said beneficiary thereunder,

          and such payment shall be deemed to be a payment to such DEPENDANT or
          nominee.

     f)   A benefit payable to a minor DEPENDANT or minor beneficiary may be
          paid in more than one payment in such amounts as the TRUSTEES may from
          time to time consider appropriate and in the best interests of such
          DEPENDANT or beneficiary: Provided that interest at a reasonable rate,
          having regard to the investment return earned by the FUND, shall be
          added to the outstanding balance at such times as the TRUSTEES may
          determine: Provided further that any balance owing to a DEPENDANT or
          beneficiary at the date on which he attains majority or dies,
          whichever occurs first, shall be paid in full.

     g)   A benefit payable to a major DEPENDANT or major beneficiary may be
          paid in more than one payment if the DEPENDANT or beneficiary has
          consented thereto in writing: Provided that the amounts of the
          payments, intervals of payment, interest to be added and other terms
          and conditions are disclosed in a written agreement.

     h)   An agreement contemplated in sub-rule 7.3.(g) may be cancelled by
          either party by the giving to the other of a maximum of 90 days'
          written notice so to do, and the balance of the benefit shall,
          thereafter, be paid to the DEPENDANT or BENEFICIARY in full.

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<PAGE>

RULE 8 - WITHDRAWAL BENEFITS

8.1  AMOUNT OF BENEFIT

     If a MEMBER terminates SERVICE due to resignation, dismissal, desertion or
     retrenchment he shall become entitled to a lump sum benefit equal to his
     ACTUARIAL RESERVE VALUE.

8.2  BENEFIT IN RESPECT OF MONEYS HELD IN THE TVC SECTOR

     In respect of a MEMBER who is entitled to a benefit from the TVC SECTOR,
     the benefit payable shall be a lump sum amount equal to his TVC
     ACCUMULATION.

8.3  REINSTATEMENT

     If a former MEMBER recommences SERVICE before receiving payment of his
     withdrawal benefit, the break in SERVICE may (at the sole discretion of the
     TRUSTEES) be condoned, whereupon such former MEMBER shall be reinstated on
     such terms and conditions as may be stipulated by the TRUSTEES.

8.4  UNCLAIMED BENEFITS

     a)   A benefit that remains unclaimed for a period of five years after the
          withdrawal of the MEMBER who became entitled to such benefit shall
          revert to the FUND.

     b)   Any benefit which has reverted to the FUND shall subsequently become
          payable to the MEMBER or, in the event of the death of the MEMBER, to
          his DEPENDANTS in accordance with Rule 7, subject to the production of
          documentation satisfactory to the TRUSTEES which substantiates a valid
          claim to the benefit.

     c)   Where the FUND is to be terminated, any benefit payable in terms of
          these RULES which remains unclaimed shall be paid into the Guardian's
          Fund, or other fund approved of by the REGISTRAR in contemplation of
          termination of the FUND.

     d)   A benefit that remains unclaimed for a period of five years after the
          withdrawal of the MEMBER who became entitled to such benefit shall
          revert to the FUND and held in a RESERVE ACCOUNT.

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<PAGE>

RULE 8 - WITHDRAWAL BENEFITS CONTINUED

     e)   Any benefit which has reverted to the FUND shall subsequently become
          payable to the MEMBER or, in the event of the death of the MEMBER, to
          his DEPENDANTS in accordance with Rule 7, subject to the production of
          documentation satisfactory to the TRUSTEES which substantiates a valid
          claim to the benefit.

     f)   Payment of this benefit shall be paid from the RESERVE ACCOUNT.

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                                       25
<PAGE>

RULE 9 - ADMINISTRATION OF THE FUND CONTINUED

9.1  APPOINTMENT OF AN ADMINISTRATOR

     The TRUSTEES shall appoint an ADMINISTRATOR, approved by the REGISTRAR to
     administer the business of the FUND. The ADMINISTRATOR shall be a corporate
     body, which, inter alia, performs the specialist function of pension and
     provident fund administration.

9.2  DELEGATION OF ADMINISTRATIVE DUTIES

     The TRUSTEES shall delegate to the ADMINISTRATOR in writing such of its
     powers and duties as it deems fit and the ADMINISTRATOR shall assume
     responsibility for the affairs of the FUND to the extent of the powers and
     duties so delegated.

9.3  DUTIES OF ADMINISTRATOR

     An agreement shall be entered into by the TRUSTEES acting on behalf of the
     FUND, and the ADMINISTRATOR, regulating the rights and obligations of the
     parties.

9.4  REMUNERATION

     The ADMINISTRATOR shall be remunerated by the FUND.

9.5  INSURANCE

     The ADMINISTRATOR shall insure the FUND against loss resulting from the
     dishonesty or fraud of any of its employees and the operations of the FUND
     shall be directed, controlled and overseen by the TRUSTEES in accordance
     with the applicable laws and the RULES.

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                                       26

<PAGE>

RULE 10 - MANAGEMENT OF THE FUND CONTINUED

10.1 CONSTITUTION OF THE BOARD OF MANAGEMENT

     The Board of Management shall consist of not less than 4 TRUSTEES, unless
     the FUND qualifies for exemption from this requirement, and such exemption
     has, in fact, been granted by the REGISTRAR in accordance with the
     provisions of section 7B(1)(a) of the ACT.

10.2 APPOINTMENT AND REMOVAL OF TRUSTEES

     Unless the FUND has been exempted from this requirement in terms of section
     7B(1)(b) of the ACT, the MEMBERS shall have the right to elect at least
     one-half of the TRUSTEEES as specified in Rule 10.3. Those TRUSTEES not
     elected by the MEMBERS shall be appointed by the PRINCIPAL EMPLOYER. The
     PRINCIPAL EMPLOYER, in respect of his appointees, may nominate an alternate
     to act during the absence of a TRUSTEE and may at any time remove a TRUSTEE
     or alternate by giving in writing to the TRUSTEES of his intention so to
     do. The MEMBERS, in respect of their elected TRUSTEES, may nominate an
     alternate to act during the absence a TRUSTEE and may at any time remove a
     TRUSTEE or alternate by giving notice in writing to the TRUSTEES of their
     intention so to do. Where a vacancy as a result of the removal of a
     TRUSTEE, or resignation in accordance with Rule 10.4, the PRINCIPAL
     EMPLOYER and/or MEMBERS shall re-appoint or re-elect a replacement TRUSTEE
     without delay, whichever is applicable.

10.3 ELECTION OF TRUSTEES BY MEMBERS

     The basis of election of a TRUSTEE by the MEMBERS shall be by ballot and in
     terms of an electoral procedure decided on by the TRUSTEES in consultation
     with the EMPLOYER, where each MEMBER shall be entitled to only one vote.
     The names of such elected TRUSTEES shall be listed in the minutes of each
     meeting of the TRUSTEES.

10.4 RESIGNATION

     A TRUSTEE may resign his office on giving at least 30 days' notice to the
     PRINCIPAL EMPLOYER or to the MEMBERS, as the case may be, and to the other
     TRUSTEES.

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<PAGE>

RULE 10 - MANAGEMENT OF THE FUND CONTINUED

10.5 TERM OF OFFICE

     A TRUSTEE shall hold office for a maximum period of 60 months, whereafter
     he may stand for re-appointment or re-election, whichever is applicable.
     The Chairman shall, during his term of office as a TRUSTEE, hold office as
     Chairman for a period not exceeding 60 months, whereafter he may stand for
     re-election. Such re-election being conducted in accordance with the
     provisions of Rule 10.3

10.6 CESSATION OF OFFICE

     A TRUSTEE shall cease to be a TRUSTEE if -

     a)   He has been removed from Office in Accordance with Rule 10.2.

     b)   He resigns in terms of Rule 10.4.

     c)   He becomes insane or otherwise incapable of acting in his capacity as
          TRUSTEE.

     d)   He is an unrehabilitated insolvent, or becomes insolvent, or a
          provisional order of insolvency is granted against his estate.

     e)   His estate is sequestrated or assigned for the benefit of creditors.

     f)   He enters into an offer of compromise with his creditors.

     g)   He has been or is convicted for theft, fraud, forgery or uttering of a
          forged document, or perjury, whether in the Republic of South Africa
          or anywhere in the world.

     h)   He has been or is convicted of any offence and sentenced to a period
          of imprisonment without the option of a fine whether in the Republic
          of South Africa or anywhere in the world.

     i)   He is removed by a Court from any office of trust, on account of his
          misconduct.

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<PAGE>

RULE 10 - MANAGEMENT OF THE FUND CONTINUED

10.7 PRINCIPAL OFFICER

     The TRUSTEES shall appoint a PRINCIPAL OFFICER in terms of section 8 of the
     ACT. If the PRINCIPAL OFFICER is absent from the Republic of South Africa
     for more than 30 days, or is otherwise unable to perform his duties, the
     TRUSTEES shall appoint some other person to act as PRINCIPAL OFFICER for
     the duration of his absence and shall advise the REGISTRAR of such
     appointment.

10.8 CHAIRMAN OF TRUSTEES

     The board of TRUSTEES shall elect from its number a Chairman to chair the
     meetings, and in his absence a temporary Chairman shall be elected in the
     same way for the purpose of any meeting.

10.9 MEETING OF TRUSTEES

     The TRUSTEES, or their alternates, shall meet from time to time, but at
     least once in each FINANCIAL YEAR, to conduct the business of the FUND. The
     attendance of a minimum of 4 TRUSTEES or 50% of the TRUSTEES, whichever
     complement is the greater, present at the beginning of the meeting, shall
     form a quorum provided such number is equally representative of MEMBER and
     PRINCIPAL EMPLOYER appointees, where applicable. It the FUND has been
     exempted from the minimum board requirements in terms of section 7B(1) of
     the ACT, the attendance of all appointed TRUSTEES shall be required to form
     a quorum. Any decisions taken regarding the FUND shall, where applicable,
     be carried by a majority vote and, in the event of equality of votes, the
     Chairman or acting Chairman shall have a casting vote in addition to his
     deliberative vote. Minutes of all meetings shall be kept.

10.10 TRUSTEES RESOLUTIONS

     A resolution in writing signed by a majority of the TRUSTEES shall be
     effective as if it had been passed at a meeting of the TRUSTEES duly
     convened and held. Any resolution passed in terms of this rule shall be
     voted upon and confirmed at the first meeting of the TRUSTEES held after
     the passing of such resolution.

UNISERV PENSION FUND - NOVEMBER 2002

                                       29

<PAGE>

RULE 10 - MANAGEMENT OF THE FUND CONTINUED

10.11 DUTIES OF THE TRUSTEES

     The duties of the BOARD OF TRUSTEES shall be to:

     a)   Ensure that proper books are kept as set out in RULE 10.13.

     b)   b) Ensure that proper minutes are kept as set out in RULE 10.12.

     c)   Ensure that proper control systems are employed by or on behalf of the
          TRUSTEES.

     d)   Ensure that adequate and appropriate information is communicated to
          the MEMBERS informing them of their rights, benefits and obligations
          in terms of the RULES.

     e)   Take all reasonable steps to ensure that contributions are paid
          timeously to the FUND in accordance with the ACT.

     f)   Obtain expert advice on matters where the TRUSTEES may lack sufficient
          expertise.

     g)   Ensure that the RULES comply with the ACT, the Financial Institutions
          (Investment of Funds) Act 1984, and all other applicable laws.

     h)   Act with due care, diligence and good faith.

     i)   Avoid conflicts of interest.

     j)   Act impartiality in respect of all MEMBERS, DEPENDANTS and NOMINEES.

     k)   Take all reasonable care to protect the MEMBER'S interests in terms of
          the RULES and ACT, especially in the event of:

          i)   an amalgamation or transfer of business in terms of Section 14 of
               the ACT;

          ii)  withdrawal of a participating EMPLOYER;

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                                       30

<PAGE>

RULE 10 - MANAGEMENT OF THE FUND CONTINUED

          iii) a reduction in or termination of a participating EMPLOYER'S
               contributions;

          iv)

          v)   an increase in the MEMBER'S contributions;

          vi)  a decrease in benefits in terms of the RULES.

     l)   Maintain strict confidentiality regarding all information obtained in
          respect of all parties in any way concerned under these RULES whilst
          carrying out their duties.

     m)   Carry out their other duties and exercise their other powers as may be
          shown elsewhere in the RULES.

     n)   Make decisions, in consultation with the PRINCIPAL EMPLOYER, the
          TRUSTEES and the MEMBERS in the event of an occurrence which has not
          been provided for in the RULES, provided that such decision shall be
          consistent with the provisions of the RULES, the ACT and the INCOME
          TAX ACT.

     o)   Make arrangements and do anything which shall be consistent with the
          provisions of the RULES, the ACT and the Income Tax Act.

10.12 MINUTE BOOK

     a)   Minutes of all TRUSTEE meetings shall be kept.

     b)   TRUSTEE resolutions and decisions must be recorded in the minute book.

     c)   The pages of the minute book shall be bound in such a way as to render
          the withdrawal or insertion of a page impossible and all pages shall
          be numbered consecutively.

10.13 BOOKS OF THE FUND

     a)   The TRUSTEES shall ensure that proper books and accounts, entries,
          registers and records as are essential for the proper working of the
          FUND be kept.

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                                       31

<PAGE>

RULE 10 - MANAGEMENT OF THE FUND CONTINUED

     b)   The books of account shall be made up at the end of each FINANCIAL
          YEAR.

     c)   The TRUSTEES shall keep a register at the registered office of the
          FUND containing the following:-

          i)   the full name of each TRUSTEE, his identity number, date of
               birth, nationality, occupation, residential address, business
               address and postal address and the date of appointment as a
               TRUSTEE, together with any changes to the above information;

          ii)  the postal address and registered address of the FUND;

          iii) particulars of any AUDITOR;

          iv)  particulars of any INSURER involved in the FUND, excluding an
               INSURER utilised for the purpose of purchasing pensions;

          v)   particulars of the VALUATOR.

10.14 INDEMNIFICATION AND INSURANCE

     The TRUSTEES shall:

     a)   insure the FUND at the FUND'S expense by means of a fidelity guarantee
          insurance policy, for such amount as they deem sufficient after
          consultation with the AUDITOR, against all losses resulting from any
          mistake of fact or of law, any negligence, fraud or dishonesty by any
          of its officers, including the TRUSTEES;

     b)   obtain from the FUND such indemnity as they deem sufficient, against
          all proceedings, costs and expenses incurred by reason of any claim in
          connection with the FUND not arising from their negligence, dishonesty
          or fraud;

     c)   not be personally liable for any loss incurred through any act or
          omission performed in good faith.

10.15 EXPENSES

     The TRUSTEES, PRINCIPAL OFFICER and any officers of the Board of Management
     shall not be entitled to any remuneration for their services, but the
     TRUSTEES may authorise a reimbursement of expenses for TRUSTEES, where
     circumstances dictate, and in their sole and unfettered discretion.

10.16 POWER OF THE TRUSTEES

     Subject to the provisions and limitations of the ACT the TRUSTEES shall
     have full power to -

     a)   receive, administer and apply the monies of the FUND;

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                                       32

<PAGE>

RULE 10 - MANAGEMENT OF THE FUND CONTINUED

     b)   bind the FUND as guarantor in respect of a loan granted by the
          EMPLOYER or a registered commercial banking institution for any
          purpose referred to in section 19 (5) (a) of the ACT;

     c)   grant a loan to a MEMBER for a purpose referred to in section 19 (5)
          (a) of the ACT, such loan being subject to the provisions contained in
          section 19 (5) (b), (c) and (cA) of the ACT;

     d)   obtain an overdraft from a bank or borrow from an EMPLOYER or any
          other party on such terms as they deem fit, such sum as they may
          approve for the purpose of completing any investment or meeting any
          temporary unforeseen cash shortfall and, for this purpose, may provide
          such security as they deem fit. Such loan shall be limited to a
          duration of 3 months and an amount not exceeding one half of the gross
          income of the FUND from all sources during the immediately preceding
          financial year;

     e)   purchase, sell, lease, lend, borrow, hypothecate, alienate or
          otherwise acquire, deal with or dispose of any movable or immovable
          property for the use of the FUND, provided that any immovable property
          acquired in excess of the FUND'S own requirements for the time being
          may be let;

     f)   invest, put out at interest, place on deposit, make advances of or
          otherwise deal with the monies of the FUND upon such securities and in
          such manner as they from time to time may determine, and to realise,
          vary, reinvest, or otherwise deal with such securities as they from
          time to time determine;

     g)   keep in safe custody in the safes or strongrooms at the registered
          office of the FUND, or with any bank or building society approved by
          the TRUSTEES, any mortgage bond, title deed or other security
          belonging to or held by the FUND;

     h)   enter into and sign any documents or contracts and to make by-laws
          prescribing the form and manner in which claims shall be lodged and
          dealt with by the FUND and, generally, to do all such other acts as
          are in their opinion conducive to the attainment of the objectives of
          the FUND;

     i)   delegate any of their administrative powers to a person approved by
          the REGISTRAR as an administrator under sub section (1) of section 13B
          of the ACT;

     j)   declare interest due on the INVESTMENT ACCOUNT on the advice of the
          VALUATOR.

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                                       33

<PAGE>

RULE 11 - ANNUAL FINANCIAL STATEMENTS & ACTURIAL INVESTIGATIONS CONTINUED

11.1 ANNUAL FINANCIAL STATEMENTS

     Annual Financial Statements shall be submitted to the REGISTRAR in terms of
     the ACT.

     a)   The AUDITOR shall have access to all books, papers, vouchers, accounts
          and documents pertaining to the FUND.

     b)   The accounting records of the FUND shall be closed off at the end of
          each FINANCIAL YEAR and, thereafter, audited by the AUDITOR who shall
          certify in writing the result of each audit.

     c)   The ADMINISTRATOR shall submit the Annual Financial Statements to the
          REGISTRAR within six months of the FINANCIAL YEAR -end and in
          accordance with the provisions of the ACT.

     d)   The AUDITOR shall be remunerated by the FUND.

11.2 ACTUARIAL VALUATIONS

11.2.1 The VALUATOR shall make a full investigation of the FUND at 1 OCTOBER
     2003 and at least once in every three years thereafter. A report detailing
     the findings of each investigation and the recommendations relative thereto
     shall be submitted to the REGISTRAR and to the BOARD OF TRUSTEES within 12
     months of the date of such investigation.

11.2.2 In the event of the investigation revealing a deficit, contributions to
     the FUND shall be increased by an amount determined by the VALUATOR for the
     period preceding the next investigation.

11.2.3 Should the investigation reveal a surplus of funds, such surplus shall be
     used, on the advise of the VALUATOR, to implement benefit improvements or
     reduce the overall contribution rate.

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                                       34

<PAGE>

RULE 12 - TRANSFERS AND AMALGAMATIONS

12.1 TRANSFERS AND AMALGAMATIONS

     If an EMPLOYER shall transfer to, amalgamate with or be taken over by
     another business, company or organisation the EMPLOYER may elect to:-

     a)   withdraw wholly from the FUND in which event the provisions of RULE 13
          shall apply, or

     b)   continue to contribute to the FUND in respect of EMPLOYEES, in which
          event the FUND shall not be affected except that "EMPLOYER" shall then
          mean the new business, company or organisation.

12.2 TRANSFERS TO THE FUND

     If an EMPLOYER shall take over another business, company or organisation,
     or amalgamate with any other organisation, the FUND shall be entitled to
     receive a transfer of assets from that fund. This transfer into the FUND
     shall be subject to the provisions of the ACT.

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<PAGE>

RULE 13 - RECONSTRUCTION, TERMINATION AND PARTIAL TERMINATION OF THE FUND

13.1 RECONSTRUCTION

     If an EMPLOYER is wound up for the purpose of reconstruction in a similar
     or amended form, the reconstructed organisation shall have the right of
     taking the place of the EMPLOYER and, if it exercises such right, the FUND
     shall not be affected except that 'EMPLOYER" shall then mean the
     organisation as reconstructed.

13.2 FULL TERMINATION

     In the event of full termination the following shall apply:

     a)   If all the EMPLOYERS cease to carry on business or are wound up
          (whether voluntarily or not) in circumstances to which RULE 13.1 does
          not apply, or if the PRINCIPAL EMPLOYER gives notice in writing to the
          TRUSTEES that the EMPLOYERS' contributions are to be terminated, the
          TRUSTEES shall appoint a suitable person (who shall not himself be a
          TRUSTEE, and whose appointment shall be subject to the REGISTRAR'S
          approval) to act as liquidator of the FUND.

     b)   As from the date of the REGISTRAR'S approval of his appointment, the
          liquidator shall realise the assets of the FUND and, after payment of
          all expenses incurred in liquidating the FUND, apportion the proceeds
          amongst the MEMBERS, and other beneficiaries on an equitable basis
          recommended by the ADMINISTRATOR and approved by the liquidator.

     c)   In making such apportionment, the liquidator shall include each former
          MEMBER who left SERVICE in the twelve month period ending on the date
          of ceasing to carry on business, or termination of contributions as
          the liquidator may decide but shall reduce the amount of the former
          MEMBER'S apportionment by the amount of the former MEMBER'S benefit on
          the termination of his service.

     d)   The amounts apportioned in terms of RULE 13.2 (b) shall be dealt with
          as follows:

          i)   the amount available for a person prospectively entitled to a
               benefit shall, as the liquidator in consultation with the
               ADMINISTRATOR may decide,

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                                       36

<PAGE>

RULE 13 - RECONSTRUCTION, TERMINATION AND PARTIAL TERMINATION OF THE FUND
          CONTINUED

          ii)  be transferred to such person's benefit to an APPROVED FUND; or,

          iii) be applied to purchase an annuity for such person from a
               registered INSURER; or

          iv)  be paid to such person in cash.

     e)   If all the EMPLOYERS cease to contribute to the FUND as the result of
          a decision to establish, or participate in, another APPROVED FUND
          then, as an alternative to following the procedure set out above, the
          PRINCIPAL EMPLOYER may instruct the TRUSTEES to transfer the assets of
          the FUND to the other APPROVED FUND in order that the liabilities of
          the FUND, in respect of the MEMBERS and other beneficiaries, shall be
          taken over by the other APPROVED FUND.

13.3 PARTIAL TERMINATION

     In the event of partial termination the following shall apply:

     a)   If one of the EMPLOYERS ceases to carry on business or is wound up
          (whether voluntarily or not), the portion of the FUND relating to the
          active MEMBERS in the SERVICE of that EMPLOYER shall be determined by
          the ADMINISTRATOR by reference to RULE 13.2(b) of that portion of the
          Fund. Such portion shall be apportioned amongst the active MEMBERS
          concerned on an equitable basis recommended by the ADMINISTRATOR and
          approved by the TRUSTEES.

     b)   The amount available for each person referred to in RULE 13.3 (a)
          shall, as the TRUSTEES in consultation with the ADMINISTRATOR decide,

          i)   be transferred for such person's benefit to an APPROVED FUND; or

          ii)  be applied to purchase an annuity for such person from a
               Registered INSURER;

          iii) be paid to such person in cash.

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<PAGE>

RULE 13 - RECONSTRUCTION, TERMINATION AND PARTIAL TERMINATION OF THE FUND
          CONTINUED

     c)   If one of the EMPLOYERS ceases to fall within the category of EMPLOYER
          as defined in RULE 2, then

          i)   If such EMPLOYER establishes, or participates in, another
               APPROVED FUND, the portion of the FUND relating to the active
               MEMBERS in the SERVICE of that EMPLOYER shall be determined by
               the ADMINISTRATOR by reference to his assessment of the financial
               state of that portion of the FUND and the assets comprising that
               portion shall be transferred to the other APPROVED FUND in order
               that the liabilities of the FUND in respect of those active
               MEMBERS under that portion of the FUND shall be taken over by the
               other APPROVED FUND; or

          ii)  if such EMPLOYER does not establish, or participate in, another
               APPROVED FUND,

               a)   Subject to the consent of the PRINCIPAL EMPLOYER and of the
                    BOARD OF TRUSTEES, the EMPLOYER may elect to continue to
                    contribute to the FUND in respect of its EMPLOYEES; or

               b)   the EMPLOYER may elect to withdraw wholly from the FUND, in
                    which event the provisions of RULES 13.3(a) and 13.3(b)
                    shall mutatis mutandis apply.

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<PAGE>

RULE 14 - BENEFITS (GENERAL)

14.1 RETIREMENT BENEFITS NOT REDUCIBLE, TRANSFERABLE OR EXECUTABLE

     Save to the extent permitted by the ACT, the Income Tax Act no. 58 of 1962,
     and the Maintenance Act no. 23 of 1963, no benefit provided for in the
     RULES of the FUND (including an annuity purchased or to be purchased by the
     FUND from an INSURER for a MEMBER), or right to such benefit, or right in
     respect of contributions made by or on behalf of a MEMBER, shall
     notwithstanding anything to the contrary contained in the RULES of the
     FUND, be capable of being reduced, transferred or otherwise ceded, or of
     being pledged or hypothecated, or be liable to be attached or subjected to
     any form of execution under a judgement or order of a court of law, or to
     the extent of not more than three thousand rand per annum, be capable of
     being taken into account in a determination of a judgement debtor's
     financial position in terms of proceedings in terms of section 65 of the
     Magistrates' Court Act no. 32 of 1944, and in the event of the MEMBER or
     beneficiary concerned attempting to transfer or otherwise cede, or to
     pledge or hypothecate such benefit or right, the FUND may withhold or
     suspend payment thereof: provided that the FUND may pay any such benefit or
     any benefit in pursuance of such contributions, or part thereof, to any one
     or more of the DEPENDANTS of the MEMBER or to a beneficiary or to a
     guardian or trustee for the benefit of such DEPENDANT or DEPENDANTS during
     such period as it may determine.

14.2 POWER OF DEDUCTION

     a)   In accordance with the provisions of sections 37D and 19(5)(a) of the
          ACT, the TRUSTEES may deduct any amount due by a MEMBER on the date of
          his retirement or on which he ceases to be a MEMBER of the FUND, in
          respect of-

          i)   a loan granted by the EMPLOYER to the MEMBER to purchase a
               dwelling, or to purchase land and erect a dwelling on it, for
               occupation by the MEMBER or a DEPENDANT of the MEMBER; or

          ii)  a loan granted by the EMPLOYER to the MEMBER to make additions or
               alterations to or to maintain or repair a dwelling which belongs
               to the MEMBER or his or her SPOUSE and which is occupied or will
               be occupied by the MEMBER or a DEPENDANT of the MEMBER; or

          iii) any amount for which the FUND or the EMPLOYER is liable under a
               guarantee furnished in respect of a loan by some other person to
               the MEMBER for any purpose referred to in this Rule, or

UNISERV PENSION FUND - NOVEMBER 2002

                                       39
<PAGE>

RULE 14 - BENEFITS GENERAL CONTINUED

          iv)  compensation (including any legal cost recoverable from the
               MEMBER in a matter contemplated in section 37D of the ACT) in
               respect of any damage caused to the EMPLOYER by reason of any
               theft, dishonesty, fraud or misconduct by the MEMBER, and in
               respect of which the MEMBER has in writing admitted liability to
               the EMPLOYER, or for which judgement has been obtained against
               the MEMBER In any court, including a Magistrate's court;

          from any benefit payable to or in respect of the MEMBER in terms of
          the RULES, and pay such amount to the EMPLOYER, registered commercial
          banking institution or any third party referred to in these Rules.

     b)   Any deduction from a benefit as contemplated in Rule 14.2(a), but
          excluding sub-rule 14.2(a)(iv), thereof, shall not exceed the amount
          which in terms of the Income Tax Act no.58 of 1962, may be taken by
          MEMBER or beneficiary as a lump sum benefit as defined in the Second
          Schedule to that Act.

     c)   Notwithstanding anything to the contrary contained in Rule14, the
          MEMBER concerned may request that the TRUSTEES disinvest his benefit
          and invest it at an agreed rate of interest or to hedge the investment
          performance of the assets concerned. The MEMBER concerned may request
          that the TRUSTEES pay the balance of the benefit which does not form
          part of the amount claimed by the PRINCIPAL EMPLOYER within a
          reasonable time of the benefit becoming due.

14.3 TRANSFER OF BENEFITS

     a)   If a MEMBER prior to commencement of SERVICE belonged to an APPROVED
          FUND he shall be permitted, subject to the provisions of the Income
          Tax Act and the consent of the TRUSTEES, to transfer to the FUND any
          lump-sum benefit to which he may have become entitled under the rules
          of that fund, the amount of any such benefit so transferred being used
          to purchase additional benefits for the MEMBER under the TVC SECTOR in
          accordance with Rule l5.2.

     b)   If after consultation with the ACTUARY the TRUSTEES consent to grant a
          transferring MEMBER benefits under the FUND as though he had been a
          MEMBER of the FUND since the date on which he joined the fund from
          which

UNISERV PENSION FUND - NOVEMBER 2002

                                       40

<PAGE>

RULE 14 - BENEFITS GENERAL CONTINUED

          he transferred, the amount transferred to the FUND on his behalf shall
          be invested in the INVESTMENT ACCOUNT but not in the TVC SECTOR, in
          which case Rule 15.2 shall not apply.

14.4 TRANSFERS TO AND FROM THE FUND

     The TRUSTEES shall have the power to accept the transfer of members of
     another APPROVED FUND to the FUND and to authorise the transfer of MEMBERS
     to another APPROVED FUND.

     All such transactions shall be subject to the provisions of section 14 of
     the ACT.

UNISERV PENSION FUND - NOVEMBER 2002

                                       41

<PAGE>

RULE 15 - VOLUNTARY ADDITIONAL CONTRIBUTIONS

15.1 VOLUNTARY ADDITIONAL CONTRIBUTIONS

     Notwithstanding anything to the contrary contained in these RULES, subject
     to the approval of the TRUSTEES, a MEMBER may make additional contributions
     to the FUND to meet the cost of providing additional benefits in respect of
     some past period, such additional contributions being accumulated in the
     TVC SECTOR.

15.2 CALCULATION OF PAST SERVICE BENEFITS

     The benefit payable to a MEMBER in respect of such additional contributions
     and/or amounts transferred to the FUND in terms of Rule 14.3, shall be as
     specified in Rule 14 above.

     a)   On Retirement

          His TVC ACCUMULATION. The past service period attributable to such
          (additional) benefit being determined as follows:

                                   PS/AR X TA

          Where

          PS = (Normal) PENSIONABLE SERVICE, and
          AR = ACTUARIAL RESERVE VALUE, and
          TA = TVC ACCUMULATION

     b)   On Death prior to Retirement

          The TVC ACCUMULATION payable in accordance with and the past service
          period attributable to such (additional) benefit shall be determined
          as follows:

                                   PS/AR X TA

          Where

          PS = (Normal) PENSIONABLE SERVICE, and
          AR = ACTUARIAL RESERVE VALUE, and
          TA = TVC ACCUMULATION

     c)   On Withdrawal

          The TVC ACCUMULATION shall be either transferred to an APPROVED FUND
          or, if the MEMBER so elects, payable in the form of a cash sum
          benefit.

UNISERV PENSION FUND - NOVEMBER 2002

                                       42

<PAGE>

RULE 16 - SURPLUS ACCOUNT

16.1 EMPLOYER'S SURPLUS ACCOUNT

     a)   Additional contributions made by the EMPLOYER shall be credited to
          this account.

     b)   Any portion of any ACTUARIAL SURPLUS granted to the EMPLOYER in terms
          of any section of the ACT shall be credited to this account.

     c)   The EMPLOYER may request the TRUSTEES, to utilise any portion of the
          SURPLUS as provided for in the ACT after consultation with them.

16.2 MEMBER'S SURPLUS ACCOUNT

     a)   Any portion of any ACTUARIAL SURPLUS which is granted to a MEMBER in
          terms of the ACT shall be credited to the Member's Surplus Account.

     b)   The TRUSTEES may utilise the SURPLUS as set out and provided for in
          the ACT.

UNISERV PENSION FUND - NOVEMBER 2002

                                       43

<PAGE>

                              UNISERV PENSION FUND

                                  12/8/13349/1

                                 AMENDMENT NO. 1

Extract from the minutes of a meeting of the board of Trustees of the Uniserv
Pension Fund held at Randburg on 27 August 2003

RESOLVED

That with effect from 1 June 2003, the following amendment be made to the RULES
of the FUND.

1.   RULE 8.1 WITHDRAWAL BENEFITS shall be deleted and substituted by the
     following:

     AMOUNT OF BENEFIT

     If a MEMBER terminates SERVICE of the EMPLOYER, due to resignation,
     dismissal, desertion or retrenchment he shall become entitled to the
     greater of the MEMBER contributions plus FUND INTEREST or an amount equal
     to his ACTUARIAL RESERVE VALUE.

The reason for the amendment is to allow for enhancement of the withdrawal
benefits.

Certified that the above resolution has been adopted in accordance with the
RULES of the FUND.

/s/ SIGNATURE ILLEGIBLE
------------------------------------
CHAIRMAN

/s/ SIGNATURE ILLEGIBLE
------------------------------------
TRUSTEE

/s/ SIGNATURE ILLEGIBLE
------------------------------------
PRINCIPAL OFFICER

UNISERV PENSION FUND - NOVEMBER 2002

                                       44

<PAGE>

                              UNISERV PENSION FUND

                                  12/8/13349/1

                                 AMENDMENT NO. 2

                      TO THE REVISED RULES 1 NOVEMBER 2002)

Extract from the minutes of a meeting of the board of Trustees of the Uniserv
Pension Fund held at Randburg on 27 August 2003

RESOLVED

That with effect from 1 November 2002, sub-Rule 11.2.1 shall be deleted and
substituted by the following sub-Rule:

1.   11.2.1 The VALUATOR shall make a full investigation of the FUND at 28
     February 2003 and at least once in every three years thereafter. A report
     detailing the findings of each investigation and the recommendations
     relative thereto shall be submitted to the REGISTRAR and to the BOARD OF
     TRUSTEES within 12 months of the date of such investigation.

The reason for the amendment is to allow the fund to alter their actuarial
valuation date.

Certified that the above resolution has been adopted in accordance with the
provisions of the Rules of the Fund.

                                        /s/ SIGNATURE ILLEGIBLE
                                        ----------------------------------------
                                        CHAIRMAN OF THE TRUSTEES

                                        /s/ SIGNATURE ILLEGIBLE
                                        ----------------------------------------
                                        PRINCIPAL OFFICER

                                        /s/ SIGNATURE ILLEGIBLE
                                        ----------------------------------------
                                        TRUSTEE

UNISERV PENSION FUND - NOVEMBER 2002

                                       45

<PAGE>

                              UNISERV PENSION FUND

                                  12/8/13349/1

                                 AMENDMENT NO. 3

Extract from the minutes of a meeting of the Trustees of the Uniserv Retirement
Fund ("the FUND"), held at the registered address of the FUND on 11 November
2003.

RESOLVED

That with effect from 1 November 2003, the following amendments be made to the
RULES of the FUND:

     1.   RULE 2 - Definitions

          The definitions "Fund" and "Revision Date" shall be deleted and
          replaced by the following definitions:

          " "FUND" shall mean the UTi Defined Benefit Fund."

          " "REVISION DATE" shall mean 1 February in each subsequent year."

     2.   RULE 10.2 - Appointment and Removal of Trustees

     RULE 10.2 shall be deleted and replaced by the following:-

     "10.2 Appointment and Removal of Trustees

          Unless the FUND has been exempted from the requirement in terms of
          section 7B(1)(b) of the ACT, the MEMBERS shall elect from their

UNISERV PENSION FUND - NOVEMBER 2002

                                       46

<PAGE>

          own number a minimum of 50% of the TRUSTEES as specified in RULE 10.3.

          The PRINCIPAL EMPLOYER, in respect of his appointees; may nominate an
          alternate to act during the absence of a TRUSTEE and may at any time
          remove a TRUSTEE or alternate by giving notice in writing to the
          TRUSTEES of his intention so to do. The MEMBERS, in respect of their
          elected TRUSTEES, may nominate an alternate to act during the absence
          of a TRUSTEE and may at any time remove a TRUSTEE or alternate by
          giving notice in writing to the TRUSTEES of their intention so to do.
          Where a vacancy arises as a result of the removal of a TRUSTEE, or
          resignation in accordance with RULE 10.4, the PRINCIPAL EMPLOYER
          and/or MEMBERS shall re-appoint or reelect a replacement TRUSTEE,
          whichever is applicable, without delay."

Reasons for the amendment are:

(a) effect a change of name of the Fund;

(b) to change the Revision Date of the Fund to tie in with the financial year of
the holding company's year end;

(c) to make provision for the election of member trustees from the ranks of
members of the Fund.

Certified that the above Resolution has been adopted in accordance with the
RULES of the FUND.

/s/ SIGNATURE ILLEGIBLE                 1.11.05
------------------------------------    Date
CHAIRMAN

/s/ SIGNATURE ILLEGIBLE                 1 NOV 2005
------------------------------------    Date
TRUSTEE

/s/ SIGNATURE ILLEGIBLE                 17/10/2005
------------------------------------    Date
PRINCIPAL OFFICER

UNISERV PENSION FUND - NOVEMBER 2002

                                       47

<PAGE>

                            THE UNISERVE PENSION FUND
                              FSB NO. 12/8/13349/1
                             SARS NO. 18/20/4/34281

                                 AMENDMENT NO. 4

Extract from the minutes of a meeting of the Trustees of the Uniserv Pension
Fund the FUND"), held at Jet Park on 12 October, 2005.

RESOLVED

That as from the 1St February 2006, the following amendments be made to the
RULES of the FUND:

A. RULE 4 - MEMBERSHIP

     "4.1 JOINING THE FUND

     No new EMPLOYEES will be eligible to join the FUND on or after the 1st
     day of February 2006, and the FUND shall be closed to any new MEMBERS as
     and from that date.

     Current MEMBERS on the FUND and any former MEMBERS of the FUND who are
     receiving PENSIONS from the FUND shall purchase their pensions from a
     REGISTERED INSURER, subject to the RULES of the FUND, mutatis mutandis.

UNISERV PENSION FUND - NOVEMBER 2002

                                       48

<PAGE>

     By the addition of the following to RULE 4.3 d) of the RULES.

     "d) (i) AD MEMBERS on the FUND who are transferred from the FUND, may
     choose to either transfer their benefits to the UTI Flexi Retirement Fund -
     Provident Section and/or the UTi Flexi Retirement Fund - Pension Section or
     to an APPROVED RETIREMENT ANNUITY FUND in terms of the provisions of these
     RULES and subject to Section 14 of the ACT."

     By the addition of the following to RULE 4.2:

     "e) From the first day of February, 2006, the liability in respect of
     PENSIONERS shall be transferred to the UTi Flexi Retirement Fund, Pension
     Section."

2. RULE 7 - DEATH BENEFITS CONTINUED

     "7.1. DEATH IN SERVICE BEFORE NORMAL RETIREMENT DATE

     Prior to 1 March 2004

     On the death of a MEMBER in SERVICE before NORMAL RETIREMENT DATE there
     shall be payable from the FUND to his BENEFICIARIES:

     (a)  an annuity that can be purchased from an INSURER with seven times the
          MEMBER'S PENSIONABLE SALARY less the amount payable by the Uniserv
          Unapproved Group Life Scheme, in respect of SENIOR EXECUTIVES;

     (b)  an annuity that can be purchased from an INSURER with six times the
          MEMBER'S PENSIONABLE SALARY less the amount payable by the Uniserv
          Unapproved Group Life Scheme, in respect of EXECUTIVES;

UNISERV PENSION FUND - NOVEMBER 2002

                                       49

<PAGE>

     (a)  to close the FUND to new entrants; and,

     (b)  to provide MEMBERS with minimum benefits on Death in Service; and

     (c)  to allow existing MEMBERS to either transfer out to transfer their
          benefit to the UTI Flexi Retirement Fund - Provident Section or UTI
          Fiexi Retirement Fund - Pension Fund or to an Approved Retirement
          Annuity Fund with effect from 1 February 2006.

     (d)  To allow pensioners to purchase an annuity from a registered Insurer
          and to transfer their liability to the UTI Fiexi Retirement Fund
          Pension Section

UNISERV PENSION FUND - NOVEMBER 2002

                                       50

<PAGE>

                                 SIGNATORY PAGE

CERTIFIED THAT THE ABOVE RESOLUTION HAS BEEN ADOPTED IN ACCORDANCE WITH THE
RULES OF THE FUND.

/s/ SIGNATURE ILLEGIBLE                 1.11.05
------------------------------------    DATE
CHAIRMAN

/s/ SIGNATURE ILLEGIBLE                 1 NOV 2005
------------------------------------    DATE
TRUSTEE

/s/ SIGNATURE ILLEGIBLE                 21 NOV 2005
------------------------------------    DATE
PRINCIPAL OFFICER

UNISERV PENSION FUND - NOVEMBER 2002

                                       51

<PAGE>

                            THE UNISERVE PENSION FUND

                                  12/8/13349/1

CERTIFICATE REQUIRED IN TERMS OF THE PENSION FUNDS ACT, 1956

I hereby certify that Amendment No.4 to the Rules of the Fund is financially
sound in terms of the Act.

Coral van Zyl                           BSC FFA
ACTUARY NAME                            QUALIFICATIONS
In my capacity as Actuary of the fund.

/s/ Coral van Zyl
------------------------------------
SIGNATURE

UNISERV PENSION FUND - NOVEMBER 2002

                                       52

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