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Statement of responsibility by the board of directors

for the year ended 31 March 2014

The summarised annual financial statements of the group are the responsibility of the directors of Media24 Holdings Proprietary Limited. In discharging this responsibility, they rely on the management of the group to prepare the annual financial statements in accordance with International Financial Reporting Standards (IFRS) and the South African Companies Act No 71 of 2008.As such, the summarised annual financial statements include amounts based on judgements and estimates made by management. The information given is comprehensive and presented in a responsible manner.

The directors accept responsibility for the preparation, integrity and fair presentation of the summarised annual financial statements and are satisfied that the systems and internal financial controls implemented by management are effective.

The directors believe that the company and group have adequate resources to continue operations as a going concern in the foreseeable future, based on forecasts and available cash resources. The annual financial statements support the viability of the company and the group.

PricewaterhouseCoopers Inc., which was given unrestricted access to all financial records and related data, including minutes of all meetings of shareholders, the board of directors and committees of the board, has audited the group annual financial statements from which the summarised annual financial statements were derived. The directors believe that all representations made to the independent auditor during the audit were valid and appropriate.

The audit report of PricewaterhouseCoopers Inc. is presented here.

The summarised annual financial statements were approved by the board of directors on 12 June 2014 and were signed on its behalf by:

R C C Jafta E Weideman
Chair Chief executive

12 June 2014