IFP CALLS FOR QUICK CLOSURE TO FIDENTIA SCANDAL

MEDIA STATEMENT RELEASED BY:
MR HENNIE BEKKER MP
IFP SPOKESPERSON ON FINANCE

February 16, 2007

"The IFP would like to express its concern regarding the Fidentia scandal, as well as the fact that curator, Dinesh Ghiwala was quoted as saying that the process of tracking the missing funds could take longer that a year."

Mr Bekker further explained that further and immediate action is needed to lighten the suffering of the many orphans and widows who have not benefited from their investments, as well as for the many Fidentia employees who are not certain of their jobs.

Mr Bekker also said: "The IFP calls on the Financial Services Board and the Minister of Finance to accelerate existing efforts to uncover the full extent of this debacle, as more monies could be involved. We would also like to urge the curators for quick closure to this matter so that guilty parties can be brought to book, and if necessary, the National Prosecuting Authority (NPA) should seize assets to settle the many bad debts they have with clients Fidentia has misled."

In conclusion, Mr Bekker said: "The IFP appreciates Mr Arthur Brown going public on Wednesday regarding this scandal, and have heard his assurances that all the funds can be accounted for, but we would like to request of Mr Brown proof of where and how the money from THETA was invested. We urge Mr Brown to issue guarantees that the money invested by THETA can be accounted for and is available.

FOR FURTHER INFORMATION CONTACT:
Mr Hennie Bekker MP: 083 255 4520
Noleen Hendricks: 082 886 9848