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Mon 21 Feb 2005, 15:30 Trading Statement
Marshalls Limited - Trading Statement                                           
MARSHALLS LIMITED                                                               
(Formerly MARSHALLS CONTROLLING INVESTMENTS LIMITED)                            
(Registration number 1987/002656/06)                                            
Share codes: MSS/MRN                                                            
ISIN numbers: ZAE000031225/ZAE000031233                                         
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 Marshalls Limited advises that its headline earnings  
per share for the year ended 31 December 2004 is expected to increase by between
125% and 135% on the 5,3 cents per share reported for the year ended 31 December
2003.                                                                           
Shareholders are advised that the content of this statement and the financial   
information it is based on has not been reviewed and reported on by the         
company`s auditors. Marshalls Limited will release its provisional financial    
results for the year ended 31 December 2004 on or about 1 March 2005.           
By order of the board                                                           
21 February 2005                                                                
Sponsor                                                                         
Imara Corporate Finance South Africa (Pty) Limited
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