Financial Mail Survey 14 May 2004 KWV Special Report CONTENTS

The company - A matured taste

The history - Politics demands changes

Structure - Separate entities to create value

Trends - Locals not great wine drinkers

Production - Separate but equal

KWV International SA - Ready to enter SAl

Strategy - A hurdle for empowerment

Financials nd investment - Not easy to pin down the value

Human resources - Transparency and trust

The future - A toast to the global market

Copyright: Financial Mail 2004