Trading statement PSG GROUP LIMITED Incorporated in the Republic of South Africa Registration number 1970/008484/06 JSE share code: PSG ISIN: ZAE000013017 ("PSG") PSG Financial Services Limited Incorporated in the Republic of South Africa Registration number 1919/000478/06 JSE share code: PGFP ISIN code: ZAE000096079 RECURRING HEADLINE EARNINGS PSG, an investment holding company, continues to use the sum-of- the-parts (“SOTP”) value and recurring headline earnings methods to provide management and investors with a more realistic and transparent way of evaluating PSG’s performance. PSG’s SOTP value is calculated using the quoted market prices for all listed and over-the-counter (“OTC”) traded unlisted investments, and market related valuations for unquoted, unlisted investments. PSG’s recurring headline earnings is the sum of its effective interest in that of each of its underlying investments. The result is that investments in which PSG holds less than 20% and are generally not equity accountable in terms of accounting standards, are included in the calculation of 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: 1. As at 31 August 2012, its SOTP value per share will be between R67.00 and R69.00 per share, or between 19,8% and 23,4% higher than that as at 29 February 2012; and 2. For the six month period ended 31 August 2012: - Recurring headline earnings per share will be between 162 cents and 163 cents, or between 19,6% and 20,3% higher than that for the six months ended 31 August 2011; - Headline earnings per share will be between 209 cents and 211 cents, or between 102,3% and 104,3% higher than that for the six months ended 31 August 2011; and - Attributable earnings per share will be between 173 cents and 175 cents, or between 97,9% and 100,2% higher than that for the six months ended 31 August 2011. This financial information has not been reviewed or reported on by the auditor of PSG. The unaudited results for the six months ended 31 August 2012 will be published on or about 8 October 2012. Stellenbosch 5 October 2012 PSG Capital Sponsor to PSG Date: 05/10/2012 04:00:00 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.