2010 was a year of consolidation and continued expansion in all strategic areas. SN Power delivered its best result ever in 2010 and continued to expand on its growth initiatives in all of its strategic areas. Hydropower has the best CO. Performance of all power generating technologies.

We have withstood challenges in the past. And have emerged stronger and more resilient. Standard Bank remains the largest bank in Africa by earnings and assets, with a recognised and trusted brand, and an extremely strong balance sheet. Because the company is so integral to society. It is considered as much a citizen of a country as is a natural person who has citizenship. It is expected that the company will be and will be seen to be a responsible citizen. 2010 will be remembered as a difficult year.

Letter from the Chairman of the Board of Management. Report of the Supervisory Board. Along with its basic function as a place of business, the Talanx Group is also at once a human habitat, social structure and cultural space just like a city. Indeed, comparing Talanx with a city opens up some astonishing perspectives; correlations within the Group suddenly appear in a fresh light. We warmly invite you to join our city tour! .