Media Announcements

Trading Statement

23 September 2010

In line with JSE disclosure requirements, shareholders are advised that the Company expects to report basic earnings per share attributable to ordinary shareholders for the six months ended 30 June 2010 of between 49 cents and 51 cents per share compared to a basic loss per share of 2.55 cents for the previous comparable period.

The comprehensive profit position arises from recognising the purchase of Rustenburg Platinum Mine`s 37% interest in the Western Bushveld Joint Venture ("WBJV")according to IFRS 3 as well as the purchase consideration being fixed in shares (211 850 125 ordinary shares at approximately R5.48). At the time of closure of the transaction, the applicable share price was R2.20. This difference in share price resulted in a bargain purchase which had to be accounted for through the statement of comprehensive income.

The financial information included in this trading statement has not been reviewed and reported on by the Company┬┤s external auditors.

The results for the half year ended 30 June 2010 will be released on SENS before the end of September.


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