Annexure A

Investment in subsidiaries and joint venture
  Issued Effective Book value in holding company
(All amounts in rand million share group interest (%) Shares Loans
unless otherwise stated) capital 2006 2005 2006 2005 2006 2005
               
Company and description              
               
Impala Holdings Limited * 100 100     (1,165,9) (1,328.3)
Investment holding company              
Impala Platinum Limited * 100 100        
  Mines, refines and markets PGMs              
Impala Platinum Investments (Pty) Ltd * 100 100        
Impala Platinum Properties (Rustenburg) (Pty) Ltd * 100 100        
Impala Platinum Properties (Johannesburg) (Pty) Ltd * 100 100        
Own properties              
Barplats Holdings (Pty) Ltd * 100 100 68.0 68.0 (359.6) (359.6)
Investment holding company              
Gazelle Platinum Limited * 100 100     235.1 337.3
Investment holding company              
Impala Refining Services Limited * 100 100        
Provides toll refining services              
Impala Platinum Japan Limited 1 ¥10m 100 100 1.5 1.5    
Marketing representative              
Impala Platinum Zimbabwe (Pty) Ltd * 100 100 72.8 72.8 350.7 350.7
Investment holding company              
Zimplats Holdings Limited**2 US$10.8m 87 87 900.5 899.0    
  Owns mineral rights and mines PGMs              
Zimbabwe Platinum Mines (Pvt) Limited 4 US$30.1m 87 87        
  Owns mineral rights and mines PGMs              
Mimosa Investments Limited 3 US$48.0m 50 50 376.6 376.6    
Investment holding company              
Mimosa Holdings (Pvt) Ltd 4 US$28.8m 50 50        
  Investment holding company              
Mimosa Platinum (Pvt) Ltd 4 US$28.8m 50 50        
  Owns mineral rights and mines PGMs              
Marula Platinum (Pty) Ltd * 78 100 644.5 637.7 684.2 60.3
Owns mineral rights and mines PGMs              
Platexco (South Africa) (Pty) Ltd * 0 100        
   Exploration company              
Sundry and dormant companies * 100 100 3.7 3.7    
Total       2,067.6 2,059.3 (255.5) (939.6)
Total investment at cost           1,812.1 1,119.7
 
* Share capital less than R50,000
**  Listed on the Australian Stock Exchange
Incorporated in Japan
2 Incorporated in Guernsey
3 Incorporated in Mauritius
4 Incorporated in Zimbabwe
 

Impala Platinum Holdings Limited - Annual Report 2006