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PSG/PGFP - PSG Group Limited/ PSG Financial Services Limited - Recurring headline earnings and Trading statement PSG Group Limited (Incorporated in the Republic of South Africa) Registration number: 1970/008484/06 JSE share code: PSG ISIN number: ZAE000013017 ("PSG") PSG Financial Services Limited (Incorporated in the Republic of South Africa) Registration number: 1919/000478/06 JSE share code: PGFP ISIN number: ZAE000096079 RECURRING HEADLINE EARNINGS PSG continues to use the recurring headline earnings method to provide management and investors with a more realistic and transparent way of evaluating PSG`s earnings performance. Recurring headline earnings represent the sum of PSG`s effective interest in that of each investment, regardless of its percentage shareholding. The result is that investments in which PSG or an underlying investment holds less than 20% and are generally not equity accountable in terms of accounting standards, are included in the calculation of our consolidated recurring headline earnings. Marked-to-market fluctuations and one-off items are excluded. TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes aware that the financial results for the next period to be reported on will show a 20% or more difference from those of the previous corresponding period. PSG hereby advises that a reasonable degree of certainty exists that, for the six months ended 31 August 2011: * recurring headline earnings will be between 135 cents and 136 cents per share or between 21,3% to 22,2% higher; and * headline earnings will be between 103 cents and 104 cents per share or between 24,1% to 24,8% lower; and * attributable earnings will be between 87 cents and 88 cents per share or between 29,6% to 30,4% lower than that for the six months ended 31 August 2010. The increase in recurring headline earnings was primarily as a result of Capitec`s exceptional performance. The decrease in headline and attributable earnings was mainly as a result of a marked-to-market loss incurred on PSG Financial Services Ltd`s interest rate hedge during the past six months as opposed to marked-to-market profits achieved in Thembeka`s investment portfolio of listed shares during the same period last year. This financial information has not been reviewed or reported on by the auditor of PSG. The results for the six months ended 31 August 2011 will be published on or about 17 October 2011. Stellenbosch 7 October 2011 PSG Capital Sponsor to PSG Date: 07/10/2011 17:00:03 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.
