Trading statement

17 February 2009

In respect of the six month period ended 31 December 2008

In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will differ by at least 20% from those of the previous corresponding period.

In comparison to the corresponding period to 31 December 2007 the ARM financial results for the six months to 31 December 2008 have been impacted by the following:

  • Sales volume increases in Platinum Group Metals (PGMs), iron ore and domestic thermal coal. The remaining commodities reflected decreased sales volumes due to a slow down in demand;
  • Significant commodity price decreases for the duration of this reporting period for PGMs and nickel;
  • A 28% weaker Rand/US Dollar exchange rate; and
  • Increased expenditure at TEAL.

Accordingly, ARM announces that it expects headline earnings per share to increase for the six months ended 31 December 2008 to between 950 and 1 100 cents per share (headline earnings for the six months to December 2007 were 353 cents per share). Basic earnings per share are expected to be in the range of 950 and 1100 cents per share (basic earnings for the six months to December 2007 were 414 cents per share).

The financial information on which this trading statement is based has not been reviewed or reported on by the external auditors of ARM.

The company’s interim results will be released on Monday 23 February 2009.

For all investor relations queries please contact:

Monique Swartz
Corporate Development & Head of Investor Relations
Office: +27 11 779 1507
Mobile: +27(0) 83 411 2881

Corn� Bobbert
Corporate Development
Office: +27 11 779 1300
Mobile: +27 (0) 83 380 6614

Issued by sponsor:
Deutsche Securities (SA) (Proprietary) Limited