28 January 2004 16:40
SPUR CORPORATION LIMITED - TRADING UPDATE                                       
Spur Corporation Limited                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/000828/06)                                            
Share code: SUR                                                                 
ISIN: ZAE000022653                                                              
("Spur" or "the company")                                                       
TRADING UPDATE                                                                  
Shareholders are advised that, although the Rand continued to strengthen against
the US Dollar and other major foreign currencies during the current reporting   
period, Spur incurred less foreign exchanges losses than in the prior comparable
period. Taking into account the resultant impact of AC 133 on the Income        
Statement, the company"s headline earnings per share for the six months ended 31
December 2003 are expected to be substantially higher ("substantially" is       
defined in the Listings Requirements of the JSE Securities Exchange South Africa
("JSE") as a movement of 30% or more) than the headline earnings per share for  
the comparable period.                                                          
The company"s interim results for the six months ended 31 December 2003 have not
been reviewed and/or reported on by the company"s auditors and accordingly,     
shareholders are advised to exercise caution when dealing in the company"s      
securities on the JSE until the interim results are published on or about 4     
March 2004.                                                                     
Cape Town                                                                       
28 January 2004                                                                 
Date: 28/01/2004 04:38:02 PM Supplied by                     
Produced by the JSE SENS Department                                             

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