MIRA INFORM REPORT

Report Date :

25.05.2011

IDENTIFICATION DETAILS

Name :	LUX VERBI BYBELMEDIA (PTY) LTD

Formerly Known As :	LUX VERBI (PTY) LTD

Registered Office :	12^th Floor, Naspers Building, 40 Heerengracht, Cape Town, Western Cape

Country :	South Africa

Date of Incorporation :	16.01.1953

Com. Reg. No.:	1953/000037/07

Legal Form :	Private Company

Line of Business :	Publishers of Christian books

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

South Africa

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Note: Bottom of Form

Note:

(The information contained in this report, other than comment by outside authorities, has been voluntarily supplied by Officials of the subject):

COMPANY NAME

LUX VERBI BYBELMEDIA (PTY) LTD

Formerly LUX VERBI (PTY) LTD, the name having been changed on 4 May 2001

TRADING NAME

LUX VERBI.BM

PHYSICAL ADDRESS

12^th Floor

Naspers Building

40 Heerengracht

Cape Town

Western Cape

POSTAL ADDRESS

P O BOX 551

Cape Town

8000

TELEPHONE NUMBER: 021 406 3633

021 406 4804 (MS E REYNECKE – Company Secretary)

FAX NUMBER: Not Available

The former address of Ferguson Building, Church , Wellington, Western Cape is reported to have been shared with the subject. It was stated that the company, currently at the latter address, is a company named BYBELMEDIA (PTY) LTD, which shares have been bought out and the subject currently has no relationship with BYBELMEDIA (PTY) LTD.

SHAREHOLDERS

86.10% VIA AFRICA LIMITED

(Registration Certificate Number: 1949/035471/06)

(Ultimately held by the holding company NASPERS LTD)

13.90% CHRISTELIKE JEUGBOEK (Section 21 company)

ASSOCIATE COMPANIES

Companies within the NASPERS group of companies

DIRECTORS

H BAILEY ID No. 5009225109087

A J SCHERRER ID No. 4202095003081

J J PIETERSE ID No. 6703235126086

MRS C M MILLS (Alternate Director) ID No. Not Available

BANKERS

ABSA BANK, Adderley Street branch, Branch Code: 312-109, Account Number: 4050934980. The subject enjoys overdraft facilities to an extent of R50 000, which is unsecured, which could not be confirmed. It was also stated by the respondent that the subject has a treasury function via the holding company.

DATE REGISTERED

16 January 1953

Registration Certificate Number: 1953/000037/07

VAT NUMBER

4490197763

TAX NUMBER

9580260033

MAJOR OPERATION

Publishers of Christian books

MAJOR SUPPLIERS

CTP BOOK PRINTERS

TYDSKRIFTE MAATSKAPPY

ABC PRINTERS (PTY) LTD

PAARL MEDIA PRINT (Part of the MEDIA 24 and NASPERS GROUP)

CREDA COMMUNICATIONS

MAJOR CUSTOMERS OR BUSINESS SECTORS

All major retailers selling Christian books as well as direct marketing through churches and other Christian communities,

AREA OF DISTRIBUTION AND SELLING

South Africa

EXPORTS

None

TOTAL EMPLOYEES

8 maximum

OTHER PREMISES

None

OWNED OR LEASED

The premises are reported to be leased

AUTHORISED SHARE CAPITAL

R5 715 000 divided into 5 715 000 ordinary shares of R1 each

ISSUED SHARE CAPITAL

R5 715 000

The following estimated financial situation was submitted as at 23 May 2011 for year ended March 2011:

STOCK ±R14 000 000

DEBTORS R 2 500 000

CREDITORS R 862 0000

TURNOVER per annum R20 502 000

AUDITORS

PRICEWATERHOUSECOOPERS (Tel No. 021 529 2000)

YEAR END

MARCH

INSURANCE BROKERS

ALEXANDER FORBES

TRADE REFERENCES – JUNE 2009

ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE

OPENED CREDIT CREDIT PATTERN

1. 5 years declined R30 000 30 days 30 days Very Good

2. 10 years R500 000 R200 000- 60 days 60 days Very Good

c/l R500 000

3. 2001 R300 000 R 10 000- 90 days 90 days Very Good

R150 000

4. Do not give trade references

CURRENT TRADE REFERENCES

ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE

OPENED CREDIT CREDIT PATTERN

1. +10 years R400 000 R100 000- 60 days 60 days Very Good

c/l R250 000

2. +5 years open R200 000± 30 days 30 days Very Good

3. +10 years R300 000± R150 000 60 days 60 days Very Good

R250 000

COMMENTS

This is an established business meeting its commitments timeously. We have not traced dealings to an extent of US$1 000 000 DA and would prefer to see such an amount well spread. The lack of full financial information should be borne in mind.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.25
UK Pound	1	Rs.72.82
Euro	1	Rs.63.58

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.