CGR - Calgro M3 Holdings Limited - Trading update

CGR - Calgro M3 Holdings Limited - Trading update                               
CALGRO M3 HOLDINGS LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration Number 2004/030045/06)                                            
Share code:  CGR      ISIN:  ZAE000109203                                       
("Calgro M3" or "the company")                                                  
Trading Update                                                                  
In accordance with paragraph 3.4 of the Listings Requirements of the JSE        
Limited, a listed company is required to publish a trading statement as soon as 
it becomes aware, with a reasonable degree of certainty, that the financial     
results for the next period to be reported on are likely to vary by more than   
20% from the previous corresponding period.                                     
Calgro M3 wishes to advise shareholders that the company`s earnings per share   
("EPS") and headline earnings per share ("HEPS") for the financial year ending  
28 February 2009 ("the 2009 financial year") are expected to be between 5% and  
15% greater than those reported for the previous corresponding period and       
between 35% and 45% lower than the forecast EPS and HEPS for the 2009 financial 
year as set out in the prospectus issued on 8 November 2007.                    
Sudden and dramatic adverse conditions in the building industry, particularly   
the upmarket residential building sector, have resulted in a substantial slowing
in turnover and a tightening of margins in these sectors since the second       
quarter of 2007.                                                                
The financial information on which this trading statement is based has not been 
reviewed or reported on by the company`s auditors.                              
Johannesburg                                                                    
22 September 2008                                                               
Designated Adviser                                                              
PSG Capital (Pty) Limited                                                       
Date: 22/09/2008 16:24:01 Supplied by www.sharenet.co.za                     
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