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Tue 27 Jul 2004, 11:00 Trading Statement
Iliad Africa Limited - Trading Statement                                        
Iliad Africa Limited                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1997/011938/06)                                            
Share code: ILA ISIN: ZAE000015038                                              
(`Iliad` or `the company`)                                                      
TRADING STATEMENT                                                               
Shareholders are hereby notified that Iliad`s headline earnings per share for   
the six months ended 30 June 2004 are expected to be materially higher than the 
headline earnings per share for the six months ended 30 June 2003 (`materially` 
being an increase of between 10% and 30% as defined by the Listings Requirements
of the JSE Securities Exchange South Africa).  The results for the six months   
ended 30 June 2004 have not been reviewed and reported on by Iliad`s auditors.  
Johannesburg                                                                    
27 July 2004                                                                    
Sponsor                                                                         
Bridge Capital Services (Proprietary) Limited                                   
Date: 27/07/2004 09:00:03 AM                   
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