Absa - TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
("Absa" or "the Group")
ISIN CODE: ZAE000013389
JSE CODE: ASA
Issuer code: AMAGB
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Absa"s financial results for the six months ended 30 September 2003 will be
prepared in accordance with the requirements of the Accounting Statement AC 133
- Financial Instruments: Recognition and Measurement - for the first time. This
statement is applied prospectively and does not require the restatement of the
results for the corresponding period of the previous year on a similar basis.
Accordingly, the financial results for the six months ending 30 September 2003
will not be comparable to those for the corresponding period of the previous
year.
The Group has continued to perform in accordance with the growth trend
established over the past two interim reporting periods.
However, the application of AC 133 in an environment marked by sharp reductions
in interest rates since 1 April 2003 has resulted in substantially higher
earnings for the six months ended 30 September 2003 than the earnings for the
six months ended 30 September 2002.
Absa"s auditors have not reviewed or reported on this trading statement.
Shareholders are advised to exercise caution when dealing in Absa"s shares until
publication of the financial results for the six months ended 30 September 2003,
expected to take place on Monday, 24 November 2003.
Johannesburg
4 November 2003
Lead Sponsor
Merrill Lynch South Africa (Pty) Limited
Co-Sponsor
ABSA Corporate and Merchant Bank
Date: 04/11/2003 12:53:02 PM Supplied by www.sharenet.co.za
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