NICTUS BEPERK - Trading statement for the six months ended 30 September 2012

Trading statement for the six months ended 30 September 2012

 Nictus Limited
 Incorporated in the Republic of South Africa
 Registration number: 1981/001858/06
 JSE share code: NCS
 NSX share code: NCT
 ISIN code: NA0009123481
 (“Nictus”)



 Trading statement for the six months ended 30 September 2012




In terms of the Listings Requirements of the JSE Limited ("JSE"), companies are required to
publish a trading statement as soon as they are satisfied that a reasonable degree of certainty
exists that the financial results for the period to be reported on will differ by 20% or more from the
financial results for the previous corresponding period.

Nictus shareholders are advised that for the six months ended 30 September 2012:

    -   Headline Earnings per Share (“HEPS”) from continuing operations, is expected to be a loss
        of between 7 and 8 cents per share which is lower than the previous corresponding period’s
        HEPS of 1.02 cents from continuing operations.

        For purposes of determining HEPS from continuing operations:

              -   the South African furniture segment and the South African insurance segment have
                  been included; and

              -   the unbundled Namibian furniture retail business, Namibian motor retail business
                  and the Namibia insurance and finance business have been excluded.

    -   HEPS (including headline earnings from discontinued operations) is expected to be a loss of
        between 1.5 and 2.5 cents per share which is lower than the previous corresponding period’s
        HEPS of 19.27 cents.

    -   Earnings per share (“EPS”) (including earnings from discontinued operations) is expected to
        be a loss of between 3 and 4 cents per share which is lower than the previous corresponding
        period’s EPS of 19.24 cents.

    -   The main reason for the reduction in HEPS and EPS from continuing operations is the costs
        incurred in the unbundling of the Nictus Group during the first six months. These costs
        amount more than R3m.

The financial information on which this trading statement is based has not been reviewed or reported
on by Nictus’ independent auditors.

Randburg
16 November 2012

Sponsor on the JSE            Sponsor on the NSX
KPMG Services (Pty) Limited   Simonis Storm Securities (Pty) Ltd
                              (Member of the NSX)

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