PGFP PSGPSG/PGFP - PSG Group Limited/ PSG Financial Services Limited - Recurringheadline earnings and Trading statementPSG Group Limited(Incorporated in the Republic of South Africa)Registration number: 1970/008484/06JSE share code: PSGISIN number: ZAE000013017("PSG")PSG Financial Services Limited(Incorporated in the Republic of South Africa)Registration number: 1919/000478/06JSE share code: PGFPISIN number: ZAE000096079RECURRING HEADLINE EARNINGSPSG continues to use the recurring headline earnings method to providemanagement and investors with a more realistic and transparent way of evaluatingPSG's earnings performance. Recurring headline earnings represent the sum ofPSG's effective interest in that of each investment, regardless of itspercentage shareholding. The result is that investments in which PSG or anunderlying investment holds less than 20% and are generally not equityaccountable in terms of accounting standards, are included in the calculation ofour consolidated recurring headline earnings. Marked-to-market fluctuations andone-off items are excluded.TRADING STATEMENTIn terms of the Listings Requirements of the JSE Limited, a listed company isrequired to publish a trading statement as soon as it becomes aware that thefinancial results for the next period to be reported on will show a 20% or moredifference from those of the previous corresponding period.PSG hereby advises that a reasonable degree of certainty exists that, for thesix months ended 31 August 2011:* recurring headline earnings will be between 135 cents and 136 cents pershare or between 21,3% to 22,2% higher; and* headline earnings will be between 103 cents and 104 cents per share orbetween 24,1% to 24,8% lower; and* attributable earnings will be between 87 cents and 88 cents per share orbetween 29,6% to 30,4% lowerthan that for the six months ended 31 August 2010.The increase in recurring headline earnings was primarily as a result ofCapitec's exceptional performance. The decrease in headline and attributableearnings was mainly as a result of a marked-to-market loss incurred on PSGFinancial Services Ltd's interest rate hedge during the past six months asopposed to marked-to-market profits achieved in Thembeka's investment portfolioof listed shares during the same period last year.This financial information has not been reviewed or reported on by the auditorof PSG. The results for the six months ended 31 August 2011 will be published onor about 17 October 2011.Stellenbosch7 October 2011PSG CapitalSponsor to PSGDate: 07/10/2011 17:00:03 Produced by the JSE SENS Department.The SENS service is an information dissemination service administered by theJSE Limited ('JSE'). The JSE does not, whether expressly, tacitly orimplicitly, represent, warrant or in any way guarantee the truth, accuracy orcompleteness of the information published on SENS. The JSE, their officers,employees and agents accept no liability for (or in respect of) any direct,indirect, incidental or consequential loss or damage of any kind or nature,howsoever arising, from the use of SENS or the use of, or reliance on,information disseminated through SENS.