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TRADING STATEMENT

In terms of section 3.4 (b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will be more than 20% different than that of the previous corresponding period.

Shareholders are hereby advised that a reasonable degree of certainty exists that for the six month period ended 30 September 2014, the Company will report basic earnings per share of between 2 923.3 cents and 2 967.4 cents, being an increase of between 563.1% and 573.1%, and headline earnings per share of between 352.5 cents and 399.5 cents, being a decrease of between 15.0% and 25.0%, as opposed to restated basic earnings per share of 440.8 cents and restated headline earnings per share of 469.9 cents for the prior corresponding period.

The significant increase in basic earnings per share is mainly as a result of the fair value adjustment to the carrying value of the group’s investment in Tsogo Sun Holdings Limited prior to it being Consolidated in the results of the Company from September 2014.

The above information has not been reviewed or reported on by the Company`s auditors. The Company`s results are expected to be published on or about 20 November 2014.