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Tue 3 Jun 2003, 17:40 Foschini Limited Reformatted Income Statement
Foschini Limited Reformatted Income Statement                                   
Foschini Limited                                                                
Registration number 1937/009504/06                                              
Share codes: FOS-FOSP                                                           
ISIN codes: ZAE000031019 - ZAE000031027                                         
The following is the reformatted reviewed Income Statement of the Foschini Group
for the year ended 31 March 2003. There are no changes to the figures which were
released on SENS on Thursday 29 May 2003. However, Foschini is re-issuing the   
Income Statement in compliance with South African Statements of Generally       
Accepted Accounting Practice , showing a separate income statement and          
reconciliation of headline earnings rather than the reconciliation forming part 
of the Income Statement.                                                        
CONSOLIDATED INCOME STATEMENT                                                   
                                     2003       2002        Change              
                                     Rm         Rm          %                   
Retail turnover                      3 880,6    3 289,9     18,0                
Cost of turnover                     2 282,6    1 998,3                         
                                     --------   --------                        
Gross profit                         1 598,0    1 291,6                         
Interest received (note 3)           127,8      97,5                            
Trading expenses (note 4)            (1 162,7)  (1 055,8)                       
                                     --------   --------                        
Trading income                       563,1      333,3       68,9                
Dividends received                   18,9       15,2                            
                                     --------   --------                        
Operating income                     582,0      348,5                           
Net finance charges                  63,5       62,6                            
--------   --------                        
Net operating income                 518,5      285,9       81,4                
Goodwill written off *               5,3        3,1                             
                                     --------   --------                        
Income before taxation               513,2      282,8       81,5                
Taxation                             148,2      74,6                            
                                     --------   --------                        
Income after taxation                365,0      208,2                           
Minority interest                    5,5        8,3                             
                                     --------   --------                        
Income attributable to ordinary      359,5      199,9                           
shareholders                                                                    
========   ========                        
RECONCILIATION OF ATTRIBUTABLE INCOME TO HEADLINE EARNINGS                      
Income attributable to ordinary      359,5      199,9                           
shareholders                                                                    
Adjustment                           5,3        3,1                             
                                     --------   --------                        
Headline earnings                    364,8      203,0       79,7                
                                     ========   ========                        
Cape Town                                                                       
3 June 2003
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