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MVG - Mvela Group Trading Statement In Respect Of The Year Ended 30 June 2008 MVELAPHANDA GROUP LIMITED (Incorporated in the Republic of South Africa) Registration number 1995/004153/06 Ordinary share code: MVG Preference share code: MVGP Ordinary share: ISIN: ZAE000060737 Preference share: ISIN: ZAE000073540 ("Mvela Group" or "the Company") MVELA GROUP TRADING STATEMENT IN RESPECT OF THE YEAR ENDED 30 JUNE 2008 In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, the issuer is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from those of the previous corresponding period. Shareholders are accordingly advised that: - Mvela Group`s headline loss per share for the year ended 30 June 2008 is expected to be between 200% and 220% lower, compared to the year ended 30 June 2007 resulting in a headline loss per share of between 305 cents and 365 cents; and - The loss per share for the year ended 30 June 2008 is expected to be between 215% and 235% lower compared to the year ended 30 June 2007 resulting in a loss per share of between 322 cents and 378 cents, as a result of fair value adjustments on its strategic investments. - Mvela Group`s intrinsic net asset value per share is expected to decline between 35% and 40% compared to the year ended 30 June 2007. Mvela Group`s major investments, being Absa Group Limited ("Absa"), Life Healthcare Group (Pty) Limited ("Life Healthcare"), Group Five Limited ("Group Five") are accounted for at fair value and Avusa Limited ("Avusa") is equity accounted. These investments have been adversely impacted by the downturn in the equities market and consequently the fair value adjustment and impairment on investments is expected to be between R1,9 billion and R2,2 billion lower for the year ended 30 June 2008 compared to a R1,6 billion increase in the corresponding period. Mvela Group is confident that the underlying operations of each of its major investments will continue to perform well over the medium to long term. The performance of the four above-mentioned investments in their last reporting periods is as follows: - Absa - 18,5% growth in operating profit before income tax for the six months ended 30 June 2008; - Group Five - 62% growth in operating profit before fair value adjustments for the year ended 30 June 2008; - Life Healthcare - 20% compound growth in EBITDA over the past three years; and - Avusa - 10% growth in EBIT for the year ending 31 March 2008. This trading statement has not been reviewed or reported on by Mvela Group`s external auditors. The company`s results are expected to be released on SENS on or about Thursday, 28 August 2008. Sandton 19 August 2008 Enquiries Mvelaphanda Group 011 290 4200 Ernst Roth 011 290 4230 College Hill 011 447 3030 Johannes van Niekerk 082 921 9110 Sponsor: Deutsche Securities (SA) (Proprietary) Limited Date: 19/08/2008 17:49:05 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
