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SLM - Sanlam Limited - Trading Statement

Release Date: 06/02/2009 16:33
Code(s): SLM
Wrap Text

SLM - Sanlam Limited - Trading Statement Sanlam Limited (Incorporated in the Republic of South Africa) (Registration number 1959/001562/06) JSE share code: SLM NSX share code: SLA ISIN number: ZAE000070660 ("Sanlam" or the "Sanlam Group") Trading Statement In terms of section 3.4(b) of the JSE Limited Listings Requirements, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period will differ by at least 20% from that reported for the previous corresponding period. Despite the impact of severe market conditions during the 2008 reporting period, the Sanlam Group achieved satisfactory operating results for the year to 31 December 2008. Core Earnings per share are expected to be broadly in line with that achieved in 2007. The 26% decline in the JSE All Share Index during 2008, and an even worse performance by international investment markets, however, had a negative impact on the level of investment returns achieved for the year. Sanlam`s Headline Earnings per share, including the IFRS impact of Sanlam shares held by the policyholders` funds, are therefore expected to be between 35% and 45% lower than for the corresponding period in 2007. Normalised Headline Earnings per share are expected to be between 55% and 65% lower. This is a major improvement on the change in Normalised Headline Earnings reported in the Operational Update issued early in December 2008 for the ten months to October 2008, due to the better relative investment market performance in the last two months of the year. Notwithstanding the impact of the adverse market conditions, the Sanlam Group remains well capitalised. The financial information on which this trading statement is based has not been reviewed or reported on by Sanlam`s auditors. The audited results for the year ended 31 December 2008 are expected to be announced on 5 March 2009. Bellville 6 February 2009 Sponsor Deutsche Securities (SA) (Proprietary) Limited Date: 06/02/2009 16:33:33 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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