LABAT AFRICA LIMITED - TRADING STATEMENT

LABAT AFRICA LIMITED - TRADING STATEMENT                                        
LABAT AFRICA LIMITED                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1986/001616/06)                                            
JSE Share code: LAB                                                             
ISIN: ZAE000018354                                                              
("Labat" or "the company")                                                      
TRADING STATEMENT                                                               
Labat is currently finalising its results for the six months ended              
31 August 2003, which will be released before the end of November.              
In this regard, shareholders are advised that earnings will be substantially    
lower than the corresponding six-month reporting period of the previous year.   
This is largely attributable to the ongoing negative effect of the strong Rand  
and weakness in international markets.  This decline is likely to effect        
performance for the period and for the full year.  It is anticipated that       
international markets for our products will improve next year and this, together
with new local opportunities, should see profits returning to prior levels in   
the year ahead.                                                                 
The above earnings information has not been reviewed or reported on by the      
company"s auditors. As a result, shareholders are advised to exercise caution   
when dealing in Labat shares until the results are published.                   
16 October 2003                                                                 
Sponsor                                                                         
Brait                                                                           
Date: 16/10/2003 05:10:02 PM Supplied by www.sharenet.co.za                     
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