SLO - SELCo - Trading Statement

SLO - SELCo - Trading Statement                                                 
Southern Electricity Company Limited                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1997/006894/06)                                            
Share code: SLO                                                                 
ISIN: ZAE000041919                                                              
("SELCo" or "the company")                                                      
TRADING STATEMENT                                                               
In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements,          
companies are required to publish a trading statement as soon as they are       
satisfied that a reasonable degree of certainty exists that the financial       
results for the period to be reported on next will differ by 20% or more        
from the financial results for the previous corresponding period.               
The directors of SELCo hereby notify shareholders that the company`s loss       
and headline loss per share for the six months ended 31 December 2011 is        
expected to be between 3.93 cents and 4.16 cents (six months ended 31           
December 2010: 1.14 cents loss and headline loss per share).  This              
decrease can largely be ascribed to the fact that the electricity rates         
increase was only passed for implementation with effect from November           
2011 by the Electricity Control Board of Namibia, while SELCo had to pay        
increased rates to its bulk supplier, NamPower, with effect from July           
2011.                                                                           
The financial information on which this trading statement is based has          
not been reviewed or reported on by SELCo`s auditors.  The interim              
results are expected to be published on or about 30 March 2012.                 
Pretoria                                                                        
23 March 2012                                                                   
Sponsor: Grindrod Bank Limited                                                  
Date: 23/03/2012 10:32:01 Supplied by www.sharenet.co.za                     
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