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Fri 27 May 2005, 16:53 THABEX EXPLORATION LIMITED
THABEX EXPLORATION LIMITED                                                      
(`Thabex` or `the Company`)Registration No 1988/000763/06                                                  
(Incorporated in the Republic of South Africa)                                  
JSE share code: TBX                                                             
ISIN Code: ZAE000013686Young Lions Exploring Africa                                                    
TRADING STATEMENT                                                               
In terms of the Listings Requirements of the JSE Securities Exchange South      
Africa (`JSE`), a listed company is required to publish a trading statement assoon as it becomes aware that the financial results for the next period to be   
reported on will show a 20% or more difference from those of the previous       
corresponding period.                                                           
Thabex hereby advises that, following the resolution of the dispute with theSouth African Reserve Bank as announced on 26 May 2005, headline earnings per   
share for the financial year ended 28 February 2005 will be 65% to 75% below the
comparable headline earnings per share for the previous financial year and      
earnings per share will be between 25% to 35% below that of the comparableearnings per share of the previous year. This financial information has not been
reviewed and reported on by the auditors of Thabex. The results for the year    
ended 28 February 2005 will be published on 31 May 2005.                        
Johannesburg27 May 2005                                                                     
Sponsor                                                                         
PSG Capital LimitedDate: 27/05/2005 04:47:20 PM Produced by the JSE SENS Department
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