Trading statement for year ended February 2014 AFRICAN DAWN CAPITAL LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/020520/06) JSE code: ADW ISIN: ZAE000060703 ("Afdawn" or "the company") TRADING STATEMENT In compliance with paragraph 3.4(b) of the JSE Limited Listings Requirements, a listed company is 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 next period to be reported on are likely to vary by more than 20% from that of the previous corresponding period. Shareholders are advised that the company expects: - the total basic loss per share for the year ended 28 February 2014 to be between 3.86 cents and 3.94 cents in comparison to 0.42 cents for the prior comparative period and; - the total headline loss per share for the year ended 28 February 2014 to be between 3.09 cents and 3.17 cents in comparison to 0.40 cents for the prior comparative period. The results for the year ended 28 February 2014 were impacted by high head office costs, a loss making operation that was subsequently closed and impairments in assets identified for sale. The information in this trading statement has not been reviewed or reported on by the company`s auditors. It is expected that the results for the year ended 28 February 2014 will be published on or about 30 May 2014. Johannesburg 28 May 2014 Designated Advisor Sasfin Capital (A division of Sasfin Bank Limited) Date: 28/05/2014 03:01:00 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.