Trading Statement SABVEST LIMITED (Incorporated in the Republic of South Africa) Registration number 1987/003753/06 ISIN: ZAE000006417 – ordinary shares ISIN: ZAE000012043 – “N” ordinary shares Share code: SBV – ordinary shares Share code: SVN – “N” ordinary shares Trading Statement Shareholders are advised that the unaudited results for the six months ended 30 June 2013 are expected to be within 5% (up or down) of the following estimates: 30/06/2013 Percentage 30/06/2012 31/12/2012 cents Growth cents cents Net asset value per share 1978 19,0 1662 1855 Dividend per share 18 50,0 12 32 Headline earnings per share 120,7 1,0 119,5 308,4 Earnings per share 120,8 1,0 119,5 308,6 Shareholders’ attention is drawn to the SENS announcement dated 31 May 2013 in which Sabvest advised a change of accounting policy in terms of which all of it’s investments are now fair valued through the income statement, including investments in unlisted associates which were previously equity accounted. The preliminary results above are presented on this basis. The figures contained in this trading statement have not been reviewed or reported on by Sabvest’s external auditors. Unaudited results are expected to be released on SENS by the end of July 2013. Sandton 24 July 2013 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 24/07/2013 03:26:00 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.