Osborne Capital merged with Hermes Asset Management (www.hermes.co.za) with effect from 1 October, 2009.

As of 1 April 2010, the Osborne Equity Fund has merged with the Hermes Equity Fund, while the Osborne Flexible Fund has been renamed as the Hermes Osborne Flexible Fund.

In the interim we will continue to post the daily unit price on this Web page, but investors are referred to the Hermes Asset Management Web site, www.hermes.co.za, for any further information.