While there are a number of reasons why BJM is a force to be reckoned with in the South African securities markets, the production of independent and objective research for our clients remains the cornerstone of our success. Perhaps the key differentiator between our research product and that of the peer group is that we only have one agenda, which is to provide an unbiased opinion. This aspect of what we do is not negotiable!

Our research is recognised by ratings not only in South Africa, but also in the United Kingdom and Europe through the Extel and Reuters surveys respectively. In the most recent 2008 Financial Mail Survey conducted in South Africa, BJM was rated the top equity research house and achieved the most top rated analysts for the second year in a row.

During 2008, we have continued to build on this platform by adding a new dimension to what has traditionally been a "bottom up" research philosophy. As a result, we are now able to offer our clients opinions on strategy and asset allocation, global and domestic economic trends, fixed income research, quantitative analysis and commodity activity.

We deliver our research to our clients through a variety of channels such as a download facility from this web site. Research reports dating back to 1 January 1999 are stored in a secure database format and can be easily selected by browsing the research access page. Once a report is selected, it is automatically e-mailed to the recipient. Clients wishing to access research from this web site are asked to contact our webmaster for a password.

Note: Access to BJM's web site and research reports is subject to a disclaimer.

Go to www.bjmresearch.com.