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Wed 22 Sep 2004, 17:38 Trading Statement
New Africa Investments Limited - Trading Statement                              
NEW AFRICA INVESTMENTS LIMITED                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1993/002467/06)                                            
Share code: NAI and NAN                                                         
ISIN: ZAE000033338 and ZAE000033346                                             
(`NAIL`)                                                                        
TRADING STATEMENT                                                               
In terms of the Listings Requirements of the JSE Securities Exchange South      
Africa (`the JSE Listings Requirements`) a listed company is required to publish
a trading statement as soon as it becomes aware that the financial results for  
the next period to be reported on will be substantially different from those of 
the previous corresponding period.                                              
NAIL forecasts that the results for the six months ended 30 June 2004 will be   
substantially higher than those of the previous corresponding period            
(`substantially` being equal to or greater than a 30% increase as defined in The
JSE Listings Requirements).                                                     
These forecasts have not been reviewed or audited by NAIL`s auditors.  The final
announcement of results for the six months ended 30 June 2004 are expected to be
published on or about 29 September 2004                                         
By order of the board                                                           
Bryanston                                                                       
22 September 2004                                                               
Sponsor:                                                                        
Investec Bank Limited
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