WEZ - Wesizwe - Trading Statement

WEZ - Wesizwe - Trading Statement                                               
WESIZWE PLATINUM LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2003/020161/06)                                           
JSE code: WEZ & ISIN: ZAE000075859                                              
(the "Company" or "Wesizwe")                                                    
TRADING STATEMENT                                                               
In line with JSE disclosure requirements, shareholders are advised that the     
Company expects to report basic earnings per share attributable to ordinary     
shareholders for the twelve months ended 31 December 2010 of between 39 cents   
and 42 cents per share compared to a basic loss per share of 6.65 cents for the 
previous comparable period.                                                     
The comprehensive profit position arises from recognising the purchase of       
Rustenburg Platinum Mine`s 37% interest in the Western Bushveld Joint Venture   
("WBJV")according to IFRS 3 as well as the purchase consideration being fixed in
shares (211 850 125 ordinary shares at approximately R5.48). At the time of     
closure of the transaction, the applicable share price was R2.20. This          
difference in share price resulted in a bargain purchase which had to be        
accounted for through the Statement of Comprehensive Income.                    
The headline loss per share attributable to ordinary shareholders for the twelve
months ended 31 December 2010 excludes the gain on bargain purchased and is     
expected to be between 11 cents and 13 cents compared to a headline loss per    
share of 6.58 cents for the previous comparable period.                         
The financial information included in this trading statement has not been       
reviewed and reported on by the Company`s external auditors.                    
The results for the year ended 31 December 2010 will be released on SENS before 
the end of March.                                                               
Johannesburg                                                                    
22 March 2011                                                                   
Sponsor: Investec Bank Limited                                                  
Date: 22/03/2011 17:17:07 Supplied by www.sharenet.co.za                     
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