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Letter to the Editor, Business Day

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Date: 
20 February 2006

Sasol Limited

(Incorporated in South Africa)
(Registration number: 1979/003231/06)
ISIN Code: ZAE000006896 
Share Code: SOL 
NYSE Code: SSL 
("Sasol")
 
Sasol refers its shareholders to the response by Uhambo following the announcement of the Competition Tribunal's ruling:
 
"Shareholders in the proposed joint venture between the liquid fuels businesses of Petronas and Sasol Ltd - Engen and Sasol Oil - today noted the ruling by the Competition Tribunal to prohibit the Uhambo merger.
 
The parties are naturally disappointed with the ruling and are in the process of considering all available alternatives. A further statement will be made in due course."
 
23 February 2006
Johannesburg
 
Issued by sponsor: Deutsche Securities (SA) Dear Sir
 
On Thursday 16 February 2006, Sasol wrote a letter to Business Day dispelling the notion that Sasol had in some way made a “veiled threat” when responding to the Budget Review's announcement of a task force being formed to investigate the merits of a windfall tax being imposed on the synthetic fuel industry. On the front page of the following day's Business Day, you acknowledged that this “veiled threat” was in fact merely Business Day's interpretation – an erroneous interpretation which our letter refuted. Readers can make up their own minds in this respect by reading our full media release on www.sasol.com.
 
However, in your Monday (20 February) edition your writer, Rob Rose, appears to have engaged in an emotionally worded attack on Sasol that is, in our opinion, inconsistent with the level of responsible journalism which we expect from Business Day. He persists in seeking to prolong an issue which he provoked in the first instance in his article last week. Using words like “blazing”, “incensed”, “terse” and “fevered” belie the tone of the media release we issued on Thursday.
 
Furthermore, your newspaper in a front page article on the same day directly attributed a quote to our CE on Sasol “rethink(ing) its local investment plans”. Pat Davies never said this, nor was it contained in our media release in response to the Budget Review. Journalism by invention reflects poorly on your newspaper and a published correction by Business Day of this statement is warranted.
 
We acknowledge a history of differences of opinion on certain matters with Government in years gone by. We wish to assure you and your readers, however, that our relationships with Government have advanced constructively across various ministries. We are cognisant of the significant role we play in the SA economy as the country's major industrial investor and a leading employer and are actively engaged with Government on various issues, including enhancing our domestic investment programme.
 
Yours sincerely,
 
Trevor Munday 
Deputy Chief ExecutiveProprietary) Limited
 
 

Forward-looking statements: Sasol may, in this document, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, developments and business strategies. Examples of such forward-looking statements include, but are not limited to, statements regarding exchange rate fluctuations, volume growth, increases in market share, total shareholder return and cost reductions. Words such as “believe”, “anticipate”, “expect”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “endeavour” and “project” and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors are discussed more fully in our most recent annual report under the Securities Exchange Act of 1934 on Form 20-F filed on 9 October 2013 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.