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Mon 23 Jan 2006, 17:30 Mutual & Federal Insurance Company Limited - Tradi
MAF
 MAF                                                                             
Mutual & Federal Insurance Company Limited - Trading Update                     
MUTUAL & FEDERAL INSURANCE COMPANY LIMITED                                      
(Incorporated in the Republic of South Africa)                                  
Registration number 1970/006619/06                                              
Share code: MAF     ISIN No: ZAE000010823                                       
("Mutual & Federal" or "the company")                                           
TRADING UPDATE                                                                  
In terms of the JSE Limited Listings Requirements, a listed company is required 
to publish a trading update as soon as it becomes reasonably certain that the   
financial results for the period to be reported on next will show a 20% or more 
difference from those of the previous corresponding period.                     
Shareholders are accordingly advised that following a strong increase in the    
price of listed equities, the company expects the headline earnings per share   
for the year ended 31 December 2005 to be 20% to 25% higher than those of the   
prior corresponding period, as restated.                                        
The information in this trading update has not been reviewed or reported on by  
the Mutual & Federal auditors.                                                  
The results for the year ended 31 December 2005 are expected to be published on 
or about 15 February 2006.                                                      
Johannesburg                                                                    
23 January 2006                                                                 
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 23/01/2006 05:30:03 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
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