Warren Chapman

Non-executive Director

Warren has worked at Peregrine Securities as a director since March
2001. Prior to that he was at ING Barings, Greenwich Securities and Prism
Equities. Warren has more than 15 Years experience in the South African stock
broking industry and has assisted in setting up two firms from inception and
has been one of the pioneers of electronic trading in South Africa. Warren is a
member of the JSE’s Trading Advisory Committee and the SA Institute of Stock
Brokers.