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A E C I LIMITED - Trading Statement

Release Date: 12/10/2012 08:00:00      Code(s): AFE     
Incorporated in the Republic of South Africa
(Registration No. 1924/002590/06)
Share code: AFE     ISIN No. ZAE000000220
(?AECI? or ?the Company?)


In compliance with the JSE Listings Requirements, shareholders are
advised that, for the year ending 31 December 2012 (?the period?),
AECI?s headline earnings per share (?HEPS?) and earnings per share
(?EPS?) are expected to be more than 20% lower than the prior
corresponding period owing to of the following:

- The current strike action in the mining and transport industries is
resulting in significant disruptions across many sectors, and is
having a particularly detrimental effect on mining and manufacturing
production which was already under pressure due to prevailing global
trading conditions.

-   AECI?s   Broad-based   Black  Economic   Empowerment (?B-BBEE?)
transactions were effected during the period, as reported in AECI?s
results for the six months ended 30 June 2012 published on SENS on 25
July 2012. HEPS and EPS will be impacted by the recognition of costs
of about R163 million in terms of International Financial Reporting
Standards. The combined effect of these charges and the additional
4,7 million AECI ordinary shares issued in terms of the B-BBEE
transactions is estimated to be a reduction in HEPS of 146cps for the

Given that it is relatively early in the reporting period, a range as
required by the JSE Listings Requirements cannot be accurately
estimated at this stage.    Shareholders are advised that a further
trading statement will be released on SENS in due course to provide
earnings forecast ranges for EPS and HEPS.

AECI?s results for the period are expected to be released on SENS in
February 2013.

The forecast financial information on which this trading statement is
based has not been reviewed and reported on by the Company?s external

Woodmead, Sandton
12 October 2012

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 12/10/2012 08:00:00 Supplied by www.sharenet.co.za                     
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