Share capital,
	premium					Attributable to
	and equity		Foreign currency	General	Accumulated	equity holders
	compensation	Hedging reserve	translation reserve	risk reserve	profit	of Grindrod	Minority interest	Total equity
	R000	R000	R000	R000	R000	R000	R000	R000
Balance as at 31 December 2006	514 994	(72 920)	53 080	100	2 329 289	2 824 543	(1 755)	2 822 788
Share options exercised	6 509					6 509		6 509
Share-based payments	3 360					3 360		3 360
Financial instrument hedge		(610 733)				(610 733)		(610 733)
Hedge reserve releases		318 066				318 066		318 066
Foreign currency translation adjustments			(23 219)			(23 219)	18	(23 201)
Foreign currency translation realised			(9 085)			(9 085)		(9 085)
Transfer from accumulated profit				5 425	(5 425)	–		–
Minority interest acquired						–	48 625	48 625
Profit attributable to shareholders					1 272 165	1 272 165	13 755	1 285 920
Distribution of share premium	(325 923)					(325 923)		(325 923)
Dividends paid					(77 351)	(77 351)		(77 351)
Balance as at 31 December 2007	198 940	(365 587)	20 776	5 525	3 518 678	3 378 332	60 643	3 438 975
Share options exercised	3 045					3 045		3 045
Share-based payments	2 865					2 865		2 865
Financial instrument hedge		572 704				572 704		572 704
Deferred tax on gains/losses recognised directly in equity		(2 328)	1 389			(939)		(939)
Repurchase of shares	(192 106)				(20 833)	(212 939)		(212 939)
Foreign currency translation adjustments	84	(50 934)	1 371 102			1 320 252	639	1 320 891
Transfer to accumulated profit				(5 525)	5 525	–		–
Minority interest acquired						–	(320)	(320)
Minority interest disposed						–	533	533
Profit attributable to shareholders					2 248 782	2 248 782	20 412	2 269 194
Dividends paid					(599 406)	(599 406)	(19 591)	(618 997)
Balance as at 31 December 2008	12 828	153 855	1 393 267	–	5 152 746	6 712 696	62 316	6 775 012