SEARDEL INVESTMENT CORPORATION LTD - Trading Statement

Trading Statement

SEARDEL INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/011249/06)
(Share code: SER & ISIN: ZAE000029815)
(Share code: SRN & ISIN: ZAE000030144)

("Seardel" or "the company")

TRADING STATEMENT

In terms of section 3.4 (b) of the JSE Limited Listings Requirements,
companies are required to publish a trading statement as soon as they are
reasonably certain that the financial results for the current reporting
period will be more than 20% different than that of the previous
corresponding period.

Shareholders are hereby advised that a reasonable degree of certainty exists
that for the year ended 31 March 2015, the Company will report basic earnings
per share of between 3.15 cents and 2.90 cents, being an increase of between
350% and 330% respectively, and headline earnings per share of between 3.91
cents and 3.89 cents, being an increase of between 3810% and 3790%
respectively, as opposed to restated basic loss per share of 1.26 cents and
restated headline earnings per share of 0.10 cents for the prior year.

The significant increase in basic earnings per share and headline earnings
per share is mainly due to the recent restructuring of the group with the non
media assets being unbundled and separately listed and the media assets being
the only assets of the group going forward. In addition the media assets,
being primarily the group’s 64% interest in Sabido Investments Pty Ltd, was
in the current year consolidated and reported on for a full 12 month period
as opposed to being reported on for a six month period in the prior year.

The above information has not been reviewed or reported on by the Company`s
auditors. The Company`s results are expected to be published on or about 21
May 2015.

Johannesburg
18 May 2015

Sponsor:
Investec Bank Limited

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