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TRADING STATEMENT

In terms 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.

As a result of the above, HCI shareholders are informed that it is expected that for the year ended 31 March 2008, HCI`s headline earnings per share will be between 30% to 35% higher when compared to the prior year, and the basic earnings per share will be between 45% to 55% higher when compared to the prior year.

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 15 May 2008.