The President, Mr Thabo Mbeki, has informed the Governor of the South African Reserve Bank, Mr Tito Mboweni, of the re-appointment ofDr Xolile Pallo Guma as Deputy Governor for a period of five years. The re-appointment is effective from 31 July 2006. Dr Guma was first appointed as Deputy Governor in August 2001 for a period of five years. In accordance with section 4 of the South African Reserve Bank Act, Act 90 of 1989, the Governor and three deputy governors of the South African Reserve Bank are appointed by the President after consultation with the Minister of Finance and the Board of Directors of the South African Reserve Bank. Both the Minister of Finance and the Board support this appointment. The re-appointment terminates Dr Guma’s appointment as Special Advisor to the Governor. The Governor indicated that he is very pleased with the re-appointment and welcomes Dr Guma back into the fold.    Further queries: Cathy Powers(012)313-4420