OCE                                                                             
OCE - Oceana Group Limited - Updated trading statement                          
Oceana Group Limited                                                            
(Registration number: 1939/001730/06)                                           
JSE Share Code: OCE                                                             
NSX Share Code: OCG                                                             
ISIN: ZAE000025284                                                              
("The Company" or "Group")                                                      
UPDATED TRADING STATEMENT                                                       
In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE     
Limited and further to the Trading Statement released on the Securities         
Exchange News Service ("SENS") on Tuesday, 2 May 2012, shareholders are         
advised that basic earnings per share and basic headline earnings per share     
for the six months ended 31 March 2012 are expected to be between 20% and       
22% higher than the comparative figure for the six months ended 31 March        
2011 ("comparative period").                                                    
Shareholders are referred to an announcement released on SENS earlier today     
regarding the Consent Agreement concluded between the Company,  its             
subsidiary Oceana Brands Limited and the Competition Commission in relation     
to its investigation into the small pelagic fishing industry. The financial     
results for the six months ended 31 March 2012 include a provision              
amounting to R34.75 million in respect of the administrative penalty agreed     
with the Competition Commission.                                                
Shareholders are further advised that Group operating profit for the six        
months ended 31 March 2012, excluding the effect of the aforementioned          
Competition Commission penalty, is expected to be between 40% and 42%           
higher than for the comparative period.                                         
The financial information and voluntary additional information on which         
this updated trading statement is based has not been reviewed and/or            
reported on by the Company`s auditors.                                          
The Company expects its results for the six months ended 31 March 2012 to       
be released on SENS on or about Friday, 11 May 2012.                            
Cape Town                                                                       
9 May 2012                                                                      
JSE Sponsor                                                                     
The Standard Bank of South Africa Limited                                       
Namibian Sponsor                                                                
Namibia Old Mutual Investment Services (Namibia) Proprietary Limited            
Date: 09/05/2012 13:56:01 Produced by the JSE SENS Department.                  
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