ASPEN PHARMACARE HOLDINGS LIMITED - Trading Statement

Trading Statement

Aspen Pharmacare Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1985/002935/06)
Share code: APN & ISIN: ZAE000066692
("Aspen")

Voluntary Trading Statement

Aspen shareholders are hereby advised that normalised diluted headline earnings per
share (“NDHEPS”), earnings per share and headline earnings per share for the 12
months ended 30 June 2014 are expected to exceed those reported in the comparative
period, ended 30 June 2013, within the following ranges:

                Measure                               Range                    Notes
NDHEPS                                              25% to 31%                   1
Earnings per share                                  40% to 46%                   2
Headline earnings per share                         26% to 32%                   3


Notes:

1. NDHEPS comprises diluted headline earnings per share adjusted for specific non-
   trading items. NDHEPS is the primary measure used by Aspen to assess its
   underlying financial performance.

2. The growth in earnings per share has benefited from capital profits on the sale of
   certain non-core products during the year and foreign exchange gains related to
   transaction funding, partly offset by the effect of significant transaction costs relating
   to new business acquisitions.

3. The growth in headline earnings per share is less than the growth in earnings per
   share primarily due to the exclusion of the capital profits from the sale of certain non-
   core products in the calculation of headline earnings.


The financial results on which this trading announcement is based have not been
reviewed or reported on by Aspen`s external auditors.

Aspen`s provisional results for the 12 months ended 30 June 2014 are scheduled to be
published on SENS on 10 September 2014.

Durban
29 August 2014

Sponsor: Investec Bank Limited

Date: 29/08/2014 11:00:00 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.