Cullinan Holdings Limited - Trading statement

Cullinan Holdings Limited - Trading statement                                   
Cullinan Holdings Limited                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1902/001808/06)                                            
Share code: CUL    ISIN: ZAE000013710                                           
("the company")                                                                 
Trading statement                                                               
Shareholders are advised that, due to the necessity of making a provision for   
taxation in terms of South African Statements of Generally Accepted Accounting  
Practice (GAAP), the accounts of the company for the six months to 31 March 2005
will reflect a taxation charge which will reduce the attributable and headline  
earnings of the company by approximately 30%.                                   
It should be noted that this provision for taxation is a non-cash charge to the 
Income Statement as the company presently has an assessed loss.  It is          
anticipated that it will take two financial years for this loss to be fully     
utilised.                                                                       
The profit before tax for the six months ended 31 March 2005 is expected to be  
similar to that for the comparable period last year.                            
This financial information has not been reviewed and reported on by the auditors
of the company.                                                                 
By order of the board                                                           
Johannesburg                                                                    
22 April 2005                                                                   
Sponsor                                                                         
LPC Manhattan Moela (Pty) Ltd                                                   
(Registration number 2001/009215/07)                                            
Date: 22/04/2005 03:24:03 PM Supplied by www.sharenet.co.za                     
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