south african distribution

I would think I am the only holder of this outfit on H.C.....but for anyone interested in what is really a "venture capital' situation it may be worth a look.

Headline News
Safe Effect Technologies appoints South African agent
By RWE Australian Business News, 02 Jun 2006


Sydney - Friday - June 2: (RWE Aust Business News) - Safe Effect Technologies Ltd (ASX:SAF) has appointed Brakecore Supply Co (Pty) Ltd as exclusive distributor in South Africa of its Sealed Integrated Braking System (SIBS).

A Heads of Agreement has been executed this week by both parties detailing the key terms of the distribution arrangement.

The Heads of Agreement allows Brakecore to immediately commence the marketing of SIBS products. A comprehensive distribution agreement will be finalised within 90 days.

Brakecore is a specialist and leading supplier of brake systems to the mining industry in South Africa servicing many of Safe Effect's Australian customers which also operate mines in South Africa, include BHP Billiton.

Safe Effect Technologies said the market potential for SIBS products in South Africa is large due to government regulations that mandate the use of fail-safe brakes in mining operations.

SIBS is an attractive product to South African mine operators because as well as meeting the fail-safe requirements it does not have the speed limitations of alternative fail-safe brake systems.

Shares of Safe Effect Technologies were down 0.2c at 5c.