Trading Update Morvest Business Group Limited (Incorporated in the Republic of South Africa) (Registration No. 2003/012583/06) Share code: MOR ISIN code: ZAE000152567 (“Morvest” or “the company”) TRADING UPDATE Morvest shareholders are advised that for the six month period ended 30 November 2013 the company expects: - revenue to be between 14% and 16% higher than for the six month period ended 30 November 2012; - headline earnings to be between 14% and 16% higher than for the six month period ended 30 November 2012; - headline earnings per share to be between 6,0 cents and 6,5 cents; - earnings per share to be between 6,0 cents and 6,5 cents; - Net tangible asset value to be between 10,5 cents and 11,0 cents per share. - Diluted headline earnings per share to be between 5,5 cents and 6,0 cents; - Diluted earnings per share to be between 5,5 cents and 6,0 cents; - The full diluted effect on earnings and headline earnings per share which based on 880 million actual shares in issue to be between 3,0 and 3,5 cents per share. The financial results on which this trading update has been based have not been reviewed or reported on by the company’s auditors. This trading update is required in terms of the JSE’s Listings Requirements. The interim results of the company will be published on SENS on or about 26 February 2014. 30 January 2014 Sponsor Sasfin Capital (A division of Sasfin Bank Limited) Date: 30/01/2014 12:10:00 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.