Updated trading statement BELL EQUIPMENT LIMITED (Incorporated in the Republic of South Africa) Registration number 1968/013656/06 ISIN: ZAE000028304 Share Code: BEL (“Bell Equipment” or “the Company” or “the Group”) UPDATED TRADING STATEMENT Shareholders are referred to the trading statement released on the Stock Exchange News Service (“SENS”) on 18 August 2016 wherein it was reported that the Company’s earnings per share (“EPS”) and headline earnings per share (“HEPS”) were expected to be at least 20% lower (at least 21 cents lower) for the half year ended 30 June 2016 (“the period”) when compared to the reported EPS and HEPS of 106 cents and 101 cents, respectively, for the half year ended 30 June 2015. After further investigations into the fraud and mismanagement in the Company’s subsidiary in the Democratic Republic of Congo, shareholders are now advised that the Company expects EPS and HEPS for the period to be between 65 cents and 69 cents (or between 32% and 39% lower), when compared with the reported EPS and HEPS of 106 cents and 101 cents respectively, for the half year ended 30 June 2015. Without the impact of the findings in the Company’s subsidiary in the Democratic Republic of Congo, the expected EPS and HEPS for the half year ended 30 June 2016 would have been higher than reported for the half year ended 30 June 2015. The financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors. It is anticipated that Bell Equipment will release its unaudited interim results on SENS on or about 22 September 2016. Richards Bay 16 September 2016 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 16/09/2016 10:25:00 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.