Nedcor believes that its employees will be a major contributor to the success of its business and that a significant component of the empowerment scheme should be appropriately directed at a broad base of black employees: senior executives, senior and middle management, junior employees and future black managers and employees. The name of the scheme, Eyethu, which means “ours” in the Nguni languages, epitomises the inclusive and uniquely South African identity of this scheme. The Employee and Management Schemes are incremental to the proposed Nedcor Group Share Incentive Scheme specified in the notice to the Annual General Meeting dated 4 May 2005.