LIBERTY LIFE/ LIBERTY HOLDINGS LIMITED - TRADING STATEMENT
LIBERTY GROUP LIMITED
(`Liberty Life`)
Registrationnumber 1957/002788/06
Alpha Code LGL
Issuer Code LIBU
ISIN Code ZAE000057360
Incorporated in the Republic of South Africa
LIBERTY HOLDINGS LIMITED
Registrationnumber 1968/002095/06
Alpha Code LBH
ISIN Code ZAE000004032
Incorporated in the Republic of South Africa
TRADING STATEMENT
Liberty Life`s audited results for the year ended 31 December
2004 will be released on 2 March 2005. Early indications are
that headline earnings per share for 2004 will be between 25%
and 35% higher than in 2003, notwithstanding the recognition
of significant non-recurring expenditure incurred in 2004
relating mainly to the continuing operational restructuring of
the group as well as the recently implemented black economic
empowerment transaction. Earnings for 2004 have benefited
from the shareholders` participation in investment returns on
assets backing certain classes of policyholder business. The
weighted average investment return in 2004 on the equity,
managed and foreign assets portfolios was 22.7% versus 12.5%
in 2003. Shareholders are however cautioned that the year-end
actuarial valuation has not been completed and finalisation of
this valuation may impact upon the initial estimate of
headline earnings per share.
The information contained in this announcement has not been
reviewed and reported on by the company`s auditors.
Liberty Holdings Limited is the holding company of Liberty
Group Limited and has no other investments (other than cash)
and carries on no other business other than that related to
its investment in Liberty Group Limited. Consequently,
Liberty Holdings Limited shareholders are referred to the
comments made above in respect of Liberty Group Limited.
Shareholders are advised that the detailed circular pertaining
to the scheme of arrangement regarding the intended offer to
acquire all of the issued ordinary shares of Capital Alliance
Holdings Limited, other than those already held by Liberty
Group Limited, Liberty Active Limited and Capital Alliance
Special Finance (Proprietary) Limited, will be issued on or
about Wednesday, 9 February 2005.
Date: 28 January 2005
SPONSOR
Merrill Lynch South Africa (Proprietary) Limited
Date: 28/01/2005 08:00:15 AM
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