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

9	property, plant and equipment
	Group				Furniture, fittings
					equipment,	Computers
	2005		Land and	Leasehold	and motor	and computer
			buildings	improvements	vehicles	software	Total
			Rm	Rm	Rm	Rm	Rm
	Balance at 1 July 2004
		Cost	311.2	88.9	1 092.2	690.5	2 182.8
		IFRS adjustments to cost	(56.7)	-	-	-	(56.7)
		Accumulated depreciation	43.6	-	629.5	317.3	990.4
		IFRS adjustments to accumulated depreciation	(43.6)	-	(12.2)	-	(55.8)
	Net book value		254.5	88.9	474.9	373.2	1 191.5
	Current year movements
		Additions	9.7	11.7	276.9	98.5	396.8
		Disposals / scrappings – cost	(8.6)	(3.7)	(108.6)	(5.0)	(125.9)
		Disposals / scrappings – accumulated depreciation	-	2.2	69.8	4.1	76.1
		Depreciation	-	(5.9)	(150.0)	(98.6)	(254.5)
		Impairment provision	-	-	(0.5)	-	(0.5)
		Foreign exchange rate differences – cost	-	5.9	13.0	9.6	28.5
		Foreign exchange rate differences – accumulated depreciation	-	0.4	(5.6)	(2.8)	(8.0)
	Balance at June 2005		255.6	99.5	569.9	379.0	1 304.0
	Made up as follows :
		Cost	255.6	102.8	1 273.5	793.6	2 425.5
		Accumulated depreciation	-	3.3	703.6	414.6	1 121.5
	Net book value at June 2005		255.6	99.5	569.9	379.0	1 304.0
	2006
	Current year movements
		Additions	197.9	24.2	231.1	154.2	607.4
		Disposals / scrappings – cost	(5.3)	(0.6)	(69.9)	(7.4)	(83.2)
		Disposals / scrappings – accumulated depreciation	-	0.3	33.4	-	33.7
		Depreciation	-	(6.8)	(151.0)	(112.1)	(269.9)
		Foreign exchange rate differences – cost	-	3.6	4.4	3.6	11.6
		Foreign exchange rate differences – accumulated depreciation	-	(1.2)	(1.9)	(2.8)	(5.9)
	Balance at June 2006		448.2	119.0	616.0	414.5	1 597.7
	Made up as follows :
		Cost	448.2	130.0	1 439.1	944.0	2 961.3
		Accumulated depreciation	-	11.0	823.1	529.5	1 363.6
	Net book value at June 2006		448.2	119.0	616.0	414.5	1 597.7
	The group's land and buildings consist of retail stores, distribution centres and corporate owner-occupied properties. At 30 June 2006 retail stores were valued by internal valuers at R167.0m (2005: R223.5m) compared to a carrying value of R109.0m (2005: R157.0m). The prior year valuations include properties which were transferred to investment properties. At 30 June 2006 the distribution centres were valued by the internal valuers at R550.1m (2005: R147.0m) compared to a carrying value of R188.0m (2005: R58.8m). The current year value includes a distribution centre developed during the year of R275.0m. The corporate owner-occupied properties have a current value of R109.0m (2005: R104.6m) compared to a carrying value of R73.1m (2005: 63.1m). Land and buildings are valued externally every 3 years and annually by internal valuers. A register of land and buildings, containing the information required by paragraph 22 (3) of Schedule 4 of the Companies Act (61 of 1973) as amended, is available for inspection at the registered office of the company. A copy will be posted, upon request, by the Group secretary.