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.

As a result of the above, HCI shareholders are informed that it is expected that for the six months ended 30 September 2012, HCI`s headline earnings will be between 395 cents and 436 cents per share compared to the prior corresponding period headline earnings of 321 cents per share, and the basic earnings will be between 408 and 450 cents per share compared to 300 cents per share in the prior corresponding period.

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 19 November 2012.

12 November 2012
Investec Bank Limited