H&A Cutting Works (Botswana)(Pty) Ltd

In December 2005, Exelco NV was awarded a diamond cutting license from the Ministry of Minerals, Energy and Water Resources of Botswana and has registered the company H&A Cutting Works (Botswana)(Pty) Ltd.

Exelco has subsequently acquired a 10,000 square meter plot of land in Gaborone, Botswana, for H&A Cutting Works. It is located between the Bureau of Standards and the new Debswana building where a second state-of-the-art manufacturing facility is planned. Construction of the factory is scheduled to commence in March 2007 and to be completed by November 2007.

H&A has recruited Samuel Mothibi as the company’s General Manager. His solid background in Human Resources and his experience as General Manager for the Standard Chartered Bank will be an enormous benefit to Exelco when recruiting the first group of polishers.

In January 2007, Leo Claes was recruited as the new Technical Director for H&A Botswana. Mr. Claes’ 35 years of experience in all aspects of diamond manufacturing will be highly beneficial to the success of the company.

H&A has also recruited an initial group of 20 Batswana, who have relocated to Bangkok Thailand, to be trained in all aspects of advanced diamond manufacturing. Upon completion of the factory construction, this team, together with a team of about 20 Thai instructors, will return to Gaborone in December 2007, to commence manufacturing in Botswana.

The Company has appointed the following companies:

Banks:	Standard Chartered Bank of Botswana First National Bank of Botswana
Architect:	Bernard Hyde & Associates
Contractor:	Wharic Construction
Consultant:	Vetoplan BVBA
Attorney:	Armstrongs
Accountants:	Grant Thornton Acumen
HR Consultant:	HRMC

Contact Details:

Address:	H&A Cutting Works (Botswana)(Pty) Ltd. Plot 61124, Block 8, Molapo Crossing PO Box 81925, Gaborone, Botswana
Contact:	Mr. Samuel Mothibi General Manager Mr. Leo Claes Technical Director
Tel:	+267-721 16 116

© Copyright 2005 H&A Cutting Works Limited