87FZ Aeci 5 1/2% Prf

    AECI LIMITED

("AECI" or "the Company")

(Incorporated in the Republic of South Africa)

Registration no. 1924/002590/06

Share code: AFE

ISIN code: ZAE 000000220

TRADING STATEMENT

In terms of the revised Listings Requirements of the JSE Securities Exchange
South Africa, a listed company must 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 upon next will differ by at least 20 per
cent from that of the previous corresponding period.

AECI expects that for the six month period ending 30 June 2005, headline
earnings per ordinary share will be between 186 and 198 cents per share (ie 18
to 25 per cent higher than in the first half of 2004), and attributable
earnings per ordinary share will be between 176 and 188 cents per share. The
difference between the headline and attributable earnings per share is
predominantly due to a further transitional provision for post-employment
medical aid benefits.

The main reasons for the increase in earnings are an improved performance by
the specialty fibres business, strong results from property activities and
lower financing costs.

The information in this trading statement has not been reviewed and reported on
by the auditors of the Company.

The results for the six month period ending 30 June 2005 will be published on
26 July 2005.

Sandton

1 July 2005

Sponsor

J.P. MORGAN EQUITIES LIMITED



END

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