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Wed 24 Nov 2004, 14:31 TRADING STATEMENT
GRINDROD LIMITED - TRADING STATEMENT                                            
Grindrod Limited                                                                
(Incorporated in the Republic of South Africa)                                  
(Registration number 1966/009846/06)                                            
Share code : GND                                                                
ISIN Number : ZAE000052247                                                      
(`Grindrod ` or `the Company`)                                                  
TRADING STATEMENT                                                               
In terms of the Listings Requirements of the JSE Securities Exchange South      
Africa, companies are required to publish a Trading Statement as soon as they   
become reasonably certain that the financial results for the period to be       
reported on next, will differ by more than 20% from those of the previous       
corresponding period.                                                           
The board of directors of Grindrod Limited advise that its basic headline       
earnings per share for the 12 months ended 31 December 2004 is expected to      
increase by between 130 - 140% on the 250,9 cents per share reported for the    
twelve months ended 31 December 2003.                                           
The forecast contained in this Trading Statement has not been reviewed or       
reported on by the company`s external auditors.  Grindrod will release its      
financial results for the 12 months ended 31 December 2004 on or about 23       
February 2005.                                                                  
By order of the board.                                                          
24 November 2004.                                                               
Sponsor                                                                         
Exchange Sponsors (Pty) Limited                                                 
Date: 24/11/2004 02:28:19 PM                    
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