Trading Statement

Wednesday, July 2, 2008

In terms of the Listings Requirements of JSE Limited, companies are required to publish a Trading Update as soon as they become reasonably certain that the financial results for the period to be reported on next, will differ by more than 20% from the financial results for the previous corresponding period. Shareholders were advised on 21 April 2008 that Grindrod expected its earnings per share and headline earnings per share for the six month period to 30 June 2008 to increase by between 55% and 75%, compared to the corresponding period of 2007. Shareholders are advised that a 85 – 95% increase in earnings and headline earnings per share is now anticipated for the half year to 30 June 2008 compared to the corresponding period of the previous year. The growth since the previous trading statement has primarily been driven by stronger than anticipated operational performance of the shipping division and a ship sale originally contracted for the second half of the year has been concluded in the first half. The forecast contained in this Trading Update has not been reviewed or reported on by the company’s external auditors.Grindrod will release its interim results for the six months ended 30 June 2008 on or about 21 August 2008. By order of the board.

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