Trading Update Value Group Limited (Incorporated in the Republic of South Africa) Registration number: 1997/002203/06 Share code: VLE ISIN code: ZAE000016507 (Value or the Group) TRADING UPDATE In terms of the listings requirements of the JSE Limited, a listed company is required to publish a trading update as soon as it becomes reasonably certain that the financial results for the period to be reported on next will show a 20% or more difference from the previous corresponding period. Trading conditions continue to be extremely challenging. Poor growth rates have once again had a material impact on volumes and demand for the Group’s services. In addition, the Group contends with ongoing customer rate pressures. The strategy however, to grow the customer base, is yielding positive results. Notwithstanding the difficult trading conditions, various ongoing cost saving initiatives, which commenced in the previous financial year, has achieved sustainable operational savings. This has led to an improvement in the Group’s profitability. Accordingly, shareholders are advised that basic earnings per share for the interim period ended 31 August 2015 will be 171% to 189% higher than that achieved in the previous corresponding period and headline earnings per share will be between 106% and 124% higher than that achieved in the previous corresponding interim period. This translates to basic earnings per share ranging from 9,5 to 10,1 cents per share in relation to the comparative period (3,5 cents per share) and headline earnings per share ranging from 10,1 to 11,0 cents per share in relation to the comparative period (4,9 cents per share). The large increase is emphasised due to the comparative period’s low earnings base as reflected in the interim results for the period ended 31 August 2014. The financial results, on which this trading update has been based, have not been reviewed nor reported on by Value’s auditors. Further information will be provided in the results announcement for the 6 months ended 31 August 2015 which will be published on or about 21 October 2015. Johannesburg 9 October 2015 Sponsor: Investec Bank Limited Date: 09/10/2015 04:35:00 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.