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Tue 22 Nov 2005, 17:38 Real Africa Holdings Limited - Trading statement
Real Africa Holdings Limited - Trading statement                                
Real Africa Holdings Limited                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1994/003919/06)                                            
(Share code: RAH)                                                               
(ISIN: ZAE000008702)                                                            
("RAH" or "the Company")                                                        
TRADING STATEMENT                                                               
RAH is currently finalising its results for the period ended 30 September 2005, 
which should be released in the first week of December 2005. In this regard,    
shareholders are advised that headline earnings and earnings per share are      
likely to be between 225% and 245% higher than the corresponding reporting      
period of the previous year.                                                    
The board of directors is of the opinion that the change in net asset value per 
share ("NAVPS") is a more appropriate measurement for RAH and will in future    
only adopt NAVPS as the relevant criteria for trading statement purposes.       
The NAVPS is estimated to increase between 20% and 30% for the period ended 30  
September 2005 compared with the published NAVPS as at 31 March 2005, adjusted  
for the capital distribution of 100 cents per share.                            
The forecast financial information on which this trading statement is based has 
not been reviewed nor reported on by the Company"s auditors.                    
Bryanston                                                                       
22 November 2005                                                                
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 22/11/2005 05:38:04 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
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