SABVEST LIMITED - Trading Statement

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
("Sabvest")


TRADING STATEMENT

Shareholders are advised that the results for the twelve months ended 31 December
2014 are expected to be within the following estimates:

                                                          Expected     Reported
                                                        31/12/2014   31/12/2013
                                      Change                 cents        cents

Net asset value per share        + 8.1% to +19.5%     2549 to 2818         2358
Dividends per share – normal     + 7.5%                         43           40
Dividends per share – special    -                             100          100
Headline earnings per share      -23.2% to -30,4%       423 to 467          608
Earnings per share               -23.2% to -30.4%       423 to 467          608


Shareholders should note that net asset value per share would have increased by
between 12,3% - 23,7% or between 2649 cents - 2917 cents if the special dividend
of 100 cents had not been paid. Further, the net asset value per share takes no
account of the effects of the possible disposal of Sabvest’s interest in Set Point
Group (Pty) Limited as advised on SENS on 16 February 2015.

The figures contained in this trading statement have not been reviewed and reported
on by Sabvest’s external auditors. Audited results for the year ended 31 December
2014 are expected to be released on SENS on or about the end of February 2015.


Sandton
17 February 2015

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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