PET - Petmin Limited - Trading Update

    PET - Petmin Limited - Trading Update                                       
    Petmin Limited                                                              
    Incorporated in the Republic of South Africa                                
Registration Number 1972/001062/06                                          
    Share Code: PET & ISIN: ZAE000076014                                        
    ("Petmin", "the company" or "the group")                                    
                                                                                
Trading Update                                                              
    Shareholders of PETMIN are hereby advised that headline earnings per share  
    for the half year ending 31 December 2006 are likely to be in line with     
    management`s expectations and will be approximately 2,97 cents per share,   
up from 2,34 cents per share for the six months ended 31 December 2005, an  
    increase of 27%. This growth in headline earnings per share has been        
    achieved despite an approximate 100% increase in the weighted average       
    number of issued shares (from 221 084 000 to 441 205 000) to predominantly  
finance the development of the Somkhele Anthracite Project that, as         
    planned, will only start to generate revenue during the second quarter of   
    2007.                                                                       
    Basic earnings per share for the half year ending 31 December 2006 are      
expected to be approximately 8,73 cents per share, down from 17,64 cents    
    per share for the six months ended 31 December 2005, a decrease of 51%. The 
    difference between the headline and basic earnings per share is             
    predominantly due to profit generated on acquisition of subsidiary          
(negative goodwill). For the six month period to 31 December 2005, Petmin   
    acquired Springlake Holdings (Pty) Limited, and a once off profit on        
    acquisition of R33,8 million was recognised in the basic earnings per share 
    calculation. Without the once off profit on acquisition of R33,8 million,   
the Basic earnings per share for the half year ending 31 December 2005      
    would have been 2,34 cents per share.                                       
    Petmin announced in December 2006 that it had entered into an agreement to  
    sell its entire shareholding in Baobab Mining and Exploration (Pty) Ltd for 
GBP 2,5 million and at 31 December 2006 all the suspensive conditions save  
    for the `Ministerial Consent" as required by Section 11 of the Minerals and 
    Petroleum Act, had been obtained. If all the conditions of the sale had     
    been concluded on 31 December 2006, the Basic earnings per share for the    
half year ending 31 December 2006 would have been approximately 15 cents,   
    down from 17,64 cents per share for the six months ended 31 December 2005,  
    a decrease of 15%.                                                          
    This trading statement has not been reviewed or audited by the company`s    
auditors.                                                                   
    The company expects to release its interim results within the next 10 days. 
    28 February 2007                                                            
    Johannesburg                                                                


    Sponsor and Corporate Advisor                                               
    River Group                                                                 
Date: 28/02/2007 16:57:00 Supplied by www.sharenet.co.za                     
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