SWL - Trading Update WESCOAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2005/006913/06) (JSE code: GDN ISIN: ZAE000069639) (“Wescoal” or “the company”) TRADING UPDATE In terms of the Listings Requirements of the JSE Limited ("JSE"), section 3.4(b), 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 will differ by at least 20% from the financial results for the previous corresponding period. Shareholders are advised that the company is in the process of finalizing its results for the six months ended 30 September 2012 and expects earnings per share for the six months ended 30 September 2012 to be between 6.1 cents and 7.1 cents as compared to 10.2 cents per share for the comparative period. Headline earnings per share for the six months ended 30 September 2012 is expected to be between 6.2 and 7.2 cents compared to 7.3 cents for the comparative period. The decrease in earnings for the six months ended 30 September 2012 compared to the comparative period relates to a profit of R4,6 million on the sale of the Blesboklaagte beneficiation plant which was included in the results for the six months ended 30 September 2011. The financial information on which this trading statement is based has not been reviewed or reported on by the company`s auditors. The company’s results for the six months ended 30 September 2012 are expected to be released on SENS during November 2012. 29 October 2012 Johannesburg Sponsor Exchange Sponsors Date: 29/10/2012 01:05:00 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.