METROPOLITAN HOLDINGS LIMITED - TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
METROPOLITAN HOLDINGS LIMITED
Formerly New Africa Capital Limited
(Incorporated in the Republic of South Africa)
Registration number: 2000/031756/06
("Metropolitan" or "the Company")
ISIN: ZAE000050456
JSE Share Code: MET
NSX Share Code: MTD
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Metropolitan is currently finalising its results for the year ended 31 December
2003, which will be published on 10 March 2004. In terms of the amendments to
the JSE Listings Requirements that became effective on 1 September 2003,
companies are required to disclose any material change in their comparative
financial results. In compliance with this requirement, Metropolitan advises
that both the earnings and headline earnings will be substantially higher
("substantially" being a change equal to or greater than 30%, as defined by the
JSE Listings Requirements). This is mainly as a result of the capital
appreciation on investment assets arising from the equity market movements in
the 2003 financial year relative to that of 2002. This item is not taken into
account for the purposes of calculating the core headline earnings.
The financial information on which this trading statement is based has not been
reviewed or reported on by the Company"s auditors. Shareholders are therefore
advised to exercise caution when trading in the Company"s shares until the
results are published.
Cape Town
26 February 2004
Sponsor in South Africa
Merrill Lynch South Africa (Proprietary) Limited
Sponsor in Namibia
Simonis Storm Securities (Proprietary) Limited
Date: 26/02/2004 01:52:37 PM Produced by the JSE SENS Department
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