AVI                                                                             
AVI - AVI Limited - Updated trading statement for the six months ended 31       
December 2011                                                                   
AVI Limited                                                                     
(Registration number 1944/017201/06)                                            
Share code: AVI                                                                 
ISIN: ZAE000049433                                                              
("AVI" or "the Group")                                                          
UPDATED TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2011             
Subsequent to the release of its trading update on 13 December 2011 AVI has     
finalised its results for the six months ended 31 December 2011 and the final   
earnings for this period are set out in the table below in accordance with      
Section 3.4 (b) of the Listings Requirements of the JSE Limited:                
Consolidated earnings per share for six months ended 31 December                
                                            2011    2010                        
                                            (cents) (cents)  %                  
                                                             increase           
Headline earnings per share for continuing   194,4   147,8    31,5              
operations                                                                      
Earnings per share for continuing            195,1   143,5    36,0              
operations                                                                      
Headline earnings per share for total        194,4   149,5    30,0              
operations                                                                      
Earnings per share for total operations      200,8   145,3    38,2              
Earnings per share have been calculated on a weighted average of 296 405 261    
shares in issue (2010: 302 013 133).                                            
Comparative numbers for continuing operations for the six months ended 31       
December 2010 have been restated to exclude Denny's results in line with the    
disclosure adopted for the year ended 30 June 2011 and subsequent disposal of   
Denny with effect from 1 July 2011.                                             
It is expected that AVI will release its interim results for the six months     
ended 31 December 2011 on or about 12 March 2012.                               
The information above has not been reviewed or reported on by the Group's       
auditors.                                                                       
Illovo                                                                          
31 January 2012                                                                 
Sponsor        The Standard Bank of South Africa Limited                        
Enquiries      +(27) 11 502 1300                                                
Date: 31/01/2012 10:41:58 Produced by the JSE SENS Department.                  
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