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Wed 17 Nov 2004, 17:02 TRADING STATEMENT
TOURISM INVESTMENT CORPORATION LIMITED - TRADING STATEMENT                      
TOURISM INVESTMENT CORPORATION LIMITED                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1996/008144/06)                                            
Share code: TRT ISIN: ZAE000012472                                              
TRADING STATEMENT                                                               
In terms of paragraph 3.4(b) of the JSE Securities Exchange South Africa        
Listings Requirements, a listed company is required to publish a trading        
statement as soon as it is satisfied that a reasonable degree of certainty      
exists that the financial results for the period to be reported upon next will  
differ by at least 20% from those of the previous corresponding period.         
Tourvest is expecting to increase its earnings per share (eps) to between 6.2   
cents per share (cps) and 7.4cps and its headline eps to between 6.0 cps and 7.2
cps for the 6 months ending 25 December 2004, primarily as a result of a lower  
secondary tax on companies charge for the period of R38m.                       
This forecast has not been reviewed or reported on by Tourvest`s auditors. The  
release of the results for the 6 months period ended 25 December 2004 is        
expected to be published on or about 20 February 2005.                          
By order of the board                                                           
Johannesburg                                                                    
17 November 2004                                                                
Sponsor:                                                                        
Investec Bank Limited
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