JSE - JSE Limited - Trading Statement

August 2, 2011 at 11:04 AM EDT

(Incorporated in the Republic of South Africa)
(Registration number: 2005/022939/06)
Share Code: JSE
ISIN Code: ZAE000079711
("JSE" or "the Group")

Stakeholders are advised that the earnings per share ("EPS") of the Group for the half year ended 30 June 2011 ("the period") are expected to be between 17% and 27% higher than the 244.1 cents per share of the half year ended 30 June 2010 ("the comparative period"). Headline earnings per share ("HEPS") are expected to be between 19% and 29% higher than the HEPS of 233.3 cents per share for the comparative period.
The EPS and HEPS for the Group for the period have been impacted by a number of factors.
These include (before tax):
- The impact of refining the manner in which the Group capitalises the costs attributable to the staff working on capital projects, further compounded by additional capital projects, resulting in an amount of R66 million being capitalised. In the comparative period, this amounted to R36 million.
- An amount of R7.9 million was expensed as a result of certain options awarded in terms of the Black Shareholder Retention Scheme having been forfeited by the original holders, and having been awarded to the JSE Empowerment Fund Trust in their place.
- The final payment of the First Tranche of the Long Term Incentive Scheme 2006 vested at the end of 2010; consequently no further costs relating to this element of the scheme were expensed in the period. In the comparative period, this amounted to R7 million.
Stakeholders are advised that the information provided in this trading statement
has not been reviewed and reported on by the Group`s external auditors.

Gary Clarke
Group Company Secretary
2 August 2011

RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 02/08/2011 15:51:01 Produced by the JSE SENS Department.