Lafrenz 1. DATE: 19 November 2014 ATTENTION: The News Editor AGRA CELEBRATES ROOF WETTING OF LAFRENZ PROPERTY

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1 Lafrenz 1 DATE: 19 November 2014 ATTENTION: The News Editor AGRA CELEBRATES ROOF WETTING OF LAFRENZ PROPERTY Agra celebrated with great excitement the roof wetting of their Lafrenz Property on 19 November 2014, with Agra staff members, the contractors, subcontractors and members of the professional teams gathering at the construction site. The roof-wetting took place to celebrate the progress on the buildings and to thank the contractors for the quality of workmanship and the adherence to timelines. Complimenting the contractors and expressing his appreciation, Agra CEO, Peter Kazmaier said: I am convinced that this progress will continue according to plan and that our deadline for completion, 20 March 2015, will be met. In his welcoming remarks Kazmaier also highlighted milestones on the road to this N$110 million investment, from the first Agra Windhoek branch that was opened in 1980, when Agra was established, to the point where Agra Windhoek has totally outgrown the current available space. In 1986, the first upgrade was done due to limited space and a change in the shift of yard sales to products in the shop. With the construction of the Auas Valley Shopping Mall in 1999/2000 the Agra shop was again made bigger, followed by another expansion of the shop in In 2012, it was clear that the increase in product lines and turnover necessitated larger space, especially as far as parking and loading facilities are concerned. Kazmaier stated figures to show the growth of Agra Windhoek branch. In 1986, the annual turnover for the Agra group, then consisting of 25 retail branches, had just topped the N$1 million mark and in the 2013 book year, Agra Windhoek branch alone achieved a turnover of N$160 million. The search for adequate and acceptable space lead to the bold decision to take Agra to the outskirts of town and Agra purchased four erven in the Trustco Industrial Park in the Lafrenz Industrial area just off the B1 north of Windhoek, totaling m 2. The Agra Lafrenz development is Agra s second largest investment, besides the revamp and extension of the Auas Valley Shopping Mall. The funds for the development was obtained from the DEG (German Investment and Development Corporation) /more

2 Lafrenz 2 Agra s Senior Manager: Properties, Henning Tiemann, explained the special touch of the roof wetting ceremony stemming from traditions to celebrate the ceremony when the carpenter has completed the roof. Tiemann also thanked the main contractor, Namibia Construction, the professional teams SCE Consulting Engineers, Sawn Adams Quantity Surveyors, Axel Dainat Architects and all the sub-contractors and complimented them on the quality of workmanship and commitment to timelines. A roof wetting circlet was also put on the building to symbolize the pride of the craftsmen and the project achievements and as a blessing to the new building and its inhabitants and visitors. After proposing a toast and breaking the glass on the floor to declare good luck to the building and those that frequent it, Fred van Zyl of Namibia Construction lead the group on a guided tour of the premises. Issued By: Albé Snyman Officer: Communications Agra Limited Tel: (061) Fax: (061) Cell: albes@agra.com.na Contact person: Abelene Boer Senior Manager: Marketing Agra Limited Tel: (061) Fax: (061) Cell: abeleneb@agra.com.na

3 WELCOMING SPEECH DELIVERED AT ROOF WETTING OF AGRA LAFRENZ PROPERTY 19 NOVEMBER 2014 BY PETER KAZMAIER CHIEF EXECUTIVE OFFICER Good evening everyone and a hearty welcome to our small roof wetting ceremony here at this state of the art flagship Agra branch. A special welcome to our main contractors and their Team: Namibia Construction: Mr Karl Heinz Schulz, Mr Hans Peter Schulz and Mr Fred van Zyl, Our professional teams: SCE Consulting Engineers: Dawn Adams Quantity Surveyors Axel Dainat Architects And of course all our valued subcontractors Agra Exco & Management Members of the media Thank you for being here. It is a privilege for me to be able to share a couple of moments with you when we go down the Agra memory lane, with emphasis on the history of the Windhoek Branch. The first Agra Windhoek branch was opened in 1980, when Agra was established and all the assets were taken over from the South African Boere Kooperatief Beperk. In 1986 the first upgrade was already done, due to limited space and a change in the shift of yard sales to products in the shop. Annual turnover for the Agra Group then just topped the N$100 million mark During the 1999/2000 year the Auas Valley Shopping Mall was constructed at a total cost of N$24 million. We are very pleased to state that Namibia Construction, who was the main contractor then, is also our main contractor for this major project of the Lafrenz Agra property. This just shows that a good product, delivered with good relationships intact between all the parties, leads to mutual support in the future. In 2006 another upgrade and extension to floor space to the Agra Windhoek branch was done as turnover improved substantially and the product mix was further extended, requiring more shop space. Another 6 years later, in 2012 we once again had to look at additional space requirements in order to ensure customer satisfaction as far as parking and loading was concerned, and the fact that once again turnover exceeded space available. If you remember I stated earlier, that in 1986 the total turnover of the Agra group (with about 25 branches) amounted to just over N$100 million. In the 2013 book year the Agra Windhoek branch s turnover alone amounted to N$160 million. So the search for adequate and acceptable space was started. In the Auas Valley area it was impossible to secure sufficient space for expansion, and the bold decision was taken to take the Agra shop to the outskirts of town, to where we are today celebrating the roof wetting. We believe that a major step forward as far as loading of vehicles, speed of loading, number of vehicles being able to be served will be attained by the new layout and the large ramp at the bulk store. As far as shopping inside the Agra branch is concerned, we will have a larger variety of products, sufficient space for at least the next three years, wide aisles and a well thought through and practical store layout.

4 In addition there will be well trained and friendly staff to assist with every facet of the business. A coffee shop will ensure a great variety of meals and drinks, and we are busy investigating the possibility of engaging one or two line shops to complete an exciting shopping experience. This whole development including the four erven which we had to consolidate in order to reach the optimal space requirements amounts to just over N$110 million and is financed by means of a long term loan we obtained from the DEG Deutsche Investitions und Entwicklungs Gesellschaft(the German Investment and Development Corporation) This is the second largest investment Agra has ever done, and we are proud that the total amount of this investment will end up in the pockets of Namibian companies and businesses. We have been fortunate up to now, that our main contractors have delivered an outstanding product, both as far as quality of workmanship and the adherence to timelines are concerned, which is something we really appreciate much, much more these days having had other experiences lately as well. I have been visiting this site every week on a Sunday, and I must say that I am really impressed with the cleanliness and the neatness of the site, and what is more important the progress I can see from Sunday to Sunday. I am convinced that this progress will continue according to plan, and that our deadline for completion, namely 20 March 2015 will be met. From my side, once again thank you for being here tonight to share this very important milestone in Agra s history with us and enjoy the rest of the evening with us. SPEECH DELIVERED AT ROOF WETTING OF AGRA LAFRENZ PROPERTY 19 NOVEMBER 2014 HENNING TIEMANN SENIOR MANAGER: PROPERTIES Dear Colleagues, Contractors, Consultant (s) and Media representatives Allow me to briefly explain the tradition / origin of what we are celebrating tonight It is German tradition that when the Carpenter has completed the roof, a roof wetting ceremony is celebrated. This tradition was first mentioned in the history, with the emergence of the craft guilds in the early Middle Ages. Today Agra wishes to continue with this tradition by celebrating the Richtefest or roof wetting of the Agra Lafrenz development. The reason for this celebration is not only to thank the contractor and his sub contractors for having reached this stage of the development but to also ask God s blessing for the new building and all those that will be frequenting it. At the same time God is thanked for his protection over the workers that have been involved in the construction process so far. According to the ancient tradition, the Richtbaum is fixed by the carpenters to the roof. Decorated with colourful ribbons, it symbolizes the pride of all craftsmen involved in the construction! Earlier the migrant carpenters carried their belongings in colourful towels. As their work was done when the roof structure was completed, carpenters would hang these towelson the Richtbaum and the contractor would then fill these cloths with food and possibly money, thus enabling the carpenters to move on to their next destination. Today, instead of the colourful towels, the Richtbaum is adorned with colourful bands. It was Further believed that by attaching the Richtbaum, residents of the newly-built house will be blessed with health, protected against diseases as well as prevent of evil spirits.

5 The highlight of the festivities is when the Carpenter or in this case the Main contractor proposes a toast, has a drink and once consumed, breaks the glass by throwing it against a wall or on the floor. It is believe that the broken glass will bring luck to the building and those that frequent it. If a roof wetting was not celebrated or the contractor did not do his work as was expected, a broom was tied to the roof gable so as to publicly put the contractor to shame. At this stage I wish to thank Namibia Construction for the work performed so far and we can definitely confirm that a Broom was never a consideration. Agra as a developer/client is very pleased with what can be seen on site today and wishes to compliment and thank Namibia Construction and their sub-contractors and the respective consultant (name/s?) for the quality of workmanship and the commitment to timelines. Allow me to briefly just mention the various companies involved Namibia Construction SCE Consulting Engineers Dawn Adams Quantity Surveyors Axel Dainat Architects Further I wish to thank my colleagues and the team that made this evening possible. I now hand over to Fred van Zyl of Namibia Construction to do the toast and thereafter take us on a guided tour of the premises I thank you