JSE - JSE Limited - Trading Statement

JSE - JSE Limited - Trading Statement                                           
JSE LIMITED                                                                     
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2005/022939/06)                                           
Share Code: JSE                                                                 
ISIN Code: ZAE000079711                                                         
("JSE" or "the Group")                                                          
TRADING STATEMENT                                                               
Stakeholders of the JSE are advised that, as a result of strong revenue         
performance and tight operating cost control for the year ended 31 December     
2011, headline earnings per share are expected to be between 23% and 34%        
higher than the previous year`s 436.1 cents per share.                          
Earnings per share are expected to be between 6% and 12% lower than the         
previous year`s 445.5 cents per share as a result of, amongst other items:      
-    capitalisation of staff costs and consultants` fees relating to an         
increased allocation of resources to new and existing capital projects      
    amounting to approximately R141 million (2010: R65 million). This had the   
    impact of reducing the "personnel expenses"; and                            
-    the impairment of approximately R223 million (2010: R33 million) to the    
software under development for the Systems Replacement Project. This was    
    recognised after careful and detailed examination of the results of the     
    software testing performed in the second half of 2011 and of the expected   
    effort required to complete and implement this project. This increased      
the "other expenses" but has no cash impact.                                
Stakeholders are advised that the information provided in this trading          
statement has not been reviewed and reported on by the Group`s external         
auditors.                                                                       
Gary Clarke                                                                     
Group Company Secretary                                                         
Sandton                                                                         
6 March 2012                                                                    
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 06/03/2012 15:54:35 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.