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Thu 4 Nov 2004, 10:49 Trading Statement
Bell Equipment Limited - Trading Statement                                      
BELL EQUIPMENT LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
Registration number 1968/013656/06                                              
Share code: BEL          ISIN: ZAE000028304                                     
(`Bell` or `the Company`)                                                       
TRADING STATEMENT                                                               
In terms of the Listings Requirements of the JSE Securities Exchange South      
Africa (`the JSE Listing 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 differ by at least 20% from those of the 
previous corresponding period.                                                  
The directors are of the opinion that the net profit after tax for the year     
ended 31 December 2004 will be at least 80% lower than the corresponding year   
ended 31 December 2003.  Bell earns half of its revenue offshore and has        
continued to be affected by the strength of the Rand against major currencies.  
The forecast has not been reviewed or reported on by Bell`s auditors.  The      
release of the final announcement of results for the year ended 31 December 2004
is expected to be published in the second half of March 2005.                   
By order of the board                                                           
Johannesburg                                                                    
4 November 2004                                                                 
Sponsor:                                                                        
Investec Bank Limited
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