Further Trading Statement BSI Steel Limited (Incorporated in the Republic of South Africa) (Registration number 2001/023164/06) JSE code: BSS ISIN: ZAE000125134 ("the company") FURTHER TRADING STATEMENT Shareholders are referred to the trading statement announcement published on SENS on 10 September 2014 where they were advised that the company expected earnings per share and headline earnings per share for the six month period ended 30 September 2014 to be at least 20% lower than that of the prior comparative period. Shareholders are further advised that: - earnings per share for the six month period ended 30 September 2014 will be 0.3 cents which is 95% lower than that of the prior comparative period of 6.3 cents; and - headline earnings per share for the six month period ended 30 September 2014 will be 0.5 cents which is 92% lower than that of the prior comparative period of 6.4 cents The information in this trading statement has not been reviewed or reported on by the company’s auditors. During the six month period ended 30 September 2014, the company was severely affected by the violent steel industry strike and July turnover was reduced while operating costs remained unchanged. As stated in the March 2014 results, the company has embarked on strategic initiatives to close or restructure all non-profitable operations. These initiatives have now been completed. The total extraordinary closure costs amounted to R25 million and were expensed during the six month period ended 30 September 2014. It is expected that the interim results for the six month period ended 30 September 2014 will be published on or about 6 November 2014. Johannesburg 3 November 2014 Designated Advisor Sasfin Capital (A division of Sasfin Bank Limited) Date: 03/11/2014 02:04:00 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.