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Afrox - Trading update

Release Date: 20/10/2006 15:00:10      Code(s): AFX
     Afrox - Trading update                                                     
     AFRICAN OXYGEN LIMITED                                                     
     (Incorporated in the Republic of South Africa)                             
(Registration number 1927/000089/06)                                       
     JSE Share code: AFX                                                        
     NSX Share code: AOX                                                        
     ISIN: ZAE000067120                                                         
("Afrox" or "the company" or "the Group")                                  
     AFROX TRADING UPDATE                                                       
     Afrox"s final results for the year ended 30 September 2006, which are      
     prepared in accordance with IFRS, are expected to be released on 26        
October 2006.                                                              
     In compliance with the Listings Requirements of the JSE Limited and in     
     respect of the year ended 30 September 2006, the Group hereby advises      
     shareholders that headline earnings per share are expected to be between   
50% and 60% higher than those reported for the previous corresponding      
     year. The main reason for the increase is due to the negative impact that  
     the special dividend"s secondary tax charge had on the headline earnings   
     per share in the previous corresponding year. The basic earnings per       
share are expected to be in the region of between 25% and 35% lower than   
     those reported for the previous corresponding year.  The reason for the    
     decline in basic earnings per share is that the exceptional surplus in     
     the previous corresponding year with the disposal of Afrox"s healthcare    
interest was not repeated to the same extent in the current year.          
     Shareholders are advised that the forecast financial information           
     contained in this trading update has neither been reviewed nor reported    
     on by the company"s external auditors.                                     
     20 October 2006                                                            
     Barnard Jacobs Mellet Corporate Finance (Pty) Limited                      
Date: 20/10/2006 03:00:12 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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