notes to the annual financial statements
for the year ended 30 June

22	interest bearing borrowings					Group
								Restated
						2006		2005
						Rm		Rm
	Non-current – secured
	Floating rate notes in issue – listed on the Bond Exchange of
	South Africa					1 600.0		1 900.0
	2 year notes maturing on 25 February 2007 – 3 month
	Jibar plus 0.33% (transferred to current borrowings)					-		300.0
	3 year notes maturing on 25 February 2008 – 3 month
	Jibar plus 0.35%					400.0		400.0
	4 year notes maturing on 25 February 2009 – 3 month
	Jibar plus 0.36%					550.0		550.0
	5 year notes maturing on 25 February 2010 – 3 month
	Jibar plus 0.38%					650.0		650.0
	Non-current – unsecured
	Floating rate loan bearing interest at prime less 3.5%,
	maturing on 6 December 2007					500.0		500.0
						2 100.0		2 400.0
	Current – unsecured
	Floating rate notes in issue – listed on the Bond Exchange
	of South Africa
	2 year notes maturing on 25 February 2007 –
	3 month Jibar plus 0.33%					300.0		-
	Call loans – floating interest rates varying between
	7.10% and 7.60% (2005: 6.65% – 7.15%)					1 033.6		194.7
	Overdraft - floating interest rate (2005: 10.5%)					-		7.5
						1 333.6		202.2
	The notes issued are asset-backed with security provided to investors under the note programme agreement – refer note 18. Sureties for all other borrowings are provided by Woolworths Holdings Limited. The treasury committee is responsible for monitoring ongoing compliance with the group’s financial covenants.   Interest bearing borrowings bear interest at variable, market determined rates and thus carrying value approximates fair value.