HIGHVELD STEEL AND VANADIUM CORPORATION LIMITED - TRADING STATEMENT AND
CAUTIONARY ANNOUNCEMENT
HIGHVELD STEEL AND VANADIUM CORPORATION LIMITED
Registration no. 1960/001900/06
(Incorporated in the Republic of South Africa)
("corporation")
Share code: HVL
ISIN code: ZAE000003422
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Shareholders are hereby informed that earnings for the six months ending 30 June
2004 are expected to be substantially higher compared to the corresponding
period in 2003 mainly due to improved market conditions. ("substantially" is
defined in the JSE Security Exchange South Africa Listing Requirements as being
greater than 30 %)
The corporations"s auditors have not reviewed this financial information and
shareholders are accordingly cautioned when dealing in the shares of the
corporation prior to the publication of the interim results during August 2004.
For and on behalf of the Board
Witbank
7 May 2004
Sponsor
Cazenove
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