Trading statement

Shareholders are advised that for the year ended 30 June 2009, Northam expects its earnings per share (“EPS”) to be between 170 and 190 cents and headline earnings per share (“HEPS”) to be between 160 and 180 cents.

These figures include income from the Pandora joint venture which has been consolidated in Northam’s accounts for the first time and compare with EPS and HEPS of 627 cents reported for the previous comparable period.

The expected decrease in earnings results from a substantial decline in the average Rand basket price received for the Company’s products, coupled with an increase in the average number of shares in issue during the period under review following the allotment and issuing of 121 million new shares as consideration for the Booysendal asset on 20 August 2008.

The information contained in this announcement has not been reviewed or reported on by the Company’s auditors.

The Company’s preliminary results for the year ended 30 June 2009 will be released on or about 14 August 2009.

Johannesburg
4 August 2009

Sponsor:

Barnard Jacobs Mellet Corporate Finance (Pty) Limited