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A E C I LIMITED - Trading statement

Release Date: 22/07/2014 08:00:00      Code(s): AFEP AFE     
Incorporated in the Republic of South Africa
(Registration No. 1924/002590/06)
Share code: AFE ISIN No. ZAE000000220
("AECI" or "the Group" or "the Company")


In compliance with the JSE Limited Listings Requirements, shareholders are advised that for the
half-year ended 30 June 2014 ("the period") AECI?s earnings per share ("EPS") are expected to be
between 45% and 55% higher than the 356 cents of the prior corresponding period. Headline
earnings per share ("HEPS") are expected to be between 5% and 15% higher than the 356 cents of
the prior corresponding period.

On 20 March 2014, AECI received cash of R1 061 million (including VAT) in consideration of the
disposal by the Group of its surplus property assets at Modderfontein. Profit from operations
relating to the transaction was R421 million before tax. This was included in EPS. Owing to the
nature of the property sold, only R240 million of the R421 million was recognised as revenue profit
before tax and therefore included in HEPS.

The HEPS benefits of the property transaction were offset, in part, by the negative impact of the
strikes in South Africa?s platinum mining sector on the Group?s businesses between January and

The Company is currently finalising its results for the period and it is expected that these will be
released on SENS on or about Tuesday, 29 July 2014.

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

Woodmead, Sandton
22 July 2014

Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 22/07/2014 08:00:00 Supplied by www.sharenet.co.za                     
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