Trading Statement

RNS Number:1314W
Brait S.A.
04 March 2004

Brait S.A.
Societe Anonyme
(Incorporated in Luxembourg)
(RC Luxembourg B-13861)
Share code: BAT   ISIN: LU0011857645
("Brait" or "the company")


TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT

In terms of the Listings Requirements, Brait is required to publish a trading
statement as soon as it becomes aware that the financial results for the
period to be reported upon next will be materially different from that of the
previous corresponding period. Brait's results for the financial year ending
31 March 2004 are anticipated to be released on or about 26 May 2004. Brait
accordingly advises that it expects both earnings per share and headline
earnings per share for the financial year ending31 March 2004 to be
substantially above earnings per share and headline earnings per share for the
financial year ended 31 March 2003. In terms of the JSE Listings Requirements,
"substantially" is defined as an increase or decrease of more than 30%.

Cautionary announcement
The above information has not been reviewed or reported on by the Company's
auditors. Shareholders are therefore advised to exercise caution when dealing
in the Company's securities until the publication of the Company's results for
the financial year ending 31 March 2004.

Luxembourg
4 March 2004



Lead sponsor
   Deloitte & Touche Sponsor Services (Pty) Ltd
  (Incorporated in the Republic of South Africa)
  (Registration number 1996/000034/07


Joint sponsor
   Brait Sponsors (Proprietary) Limited
  (Registration number 2000/031069/07)


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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