Oceana Group Limited - Trading Statement Update

Oceana Group Limited - Trading Statement Update                                 
Oceana Group Limited                                                            
(Registration number. 1939/001730/06)                                           
JSE Share Code: OCE                                                             
NSX Share Code: OCG                                                             
ISIN: ZAE000025284                                                              
("Oceana" or "the Company")                                                     
TRADING STATEMENT UPDATE                                                        
Further to the Trading Statement published on 26 January 2005, shareholders are 
advised that headline earnings per share for the six months ended 31 March 2005 
are now expected to be between 55% and 60% lower than the comparative figure for
the six months ended 31 March 2004.                                             
Earnings per share for the six months ended 31 March 2005 are now expected to be
between 70% and 75% lower than the equivalent figure for the corresponding      
period last year as a result of larger provisions raised in the Namibian hake   
operations than originally anticipated.  Earnings per share includes the full   
effect of asset write downs, loan provisions and other costs of closure in the  
Namibian hake operations whereas certain of these costs have been added back in 
the calculation of headline earnings per share.                                 
Shareholders are also advised that the decrease in earnings for the first six   
months does not necessarily give an indication of earnings per share and        
headline earnings per share for the full year to 30 September 2005. Factors such
as fishing seasonality as well as the fluctuation in exchange rates affect      
profitability.                                                                  
This statement is issued in compliance with the revised Listings Requirements of
the JSE Securities Exchange South Africa, which became effective on 1 December  
2004. The forecast financial information on which this Trading Statement is     
based has not been reviewed and/or reported on by the Company"s auditors.       
Cape Town                                                                       
25 April 2005                                                                   
Sponsor                                                                         
Standard Bank                                                                   
Date: 25/04/2005 04:58:12 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department