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Spanjaard Limited - Trading Statement

Release Date: 23/05/2006 12:05:10      Code(s): SPA
Spanjaard Limited - Trading Statement                                           
Spanjaard Limited                                                               
(Incorporated in the Republic of South Africa)                                  
Registration number 1960/004393/06                                              
Share Code: SPA & ISIN: ZAE000006938                                            
TRADING STATEMENT                                                               
In terms of the Listings Requirements of the JSE Limited, a listed company is   
required to publish a trading statement as soon as it becomes aware that the    
financial results for the next period to be reported on will show a 20% or more 
difference from those of the previous corresponding period.                     
The board of directors of Spanjaard advise that its basic earnings and headline 
earnings per share of 9,3 cents per share and 10,3 cents per share respectively 
for the year ended 28 February 2005 are expected to decrease by between 55% to  
65% per share for both basic earnings and headline earnings respectively for the
year ended 28 February 2006.                                                    
The forecast contained in this trading statement has not been reviewed or       
reported on by the company"s external auditors.                                 
23 May 2006                                                                     
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Date: 23/05/2006 12:05:12 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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