Prospects

For the 34 weeks to 21 February 2010, total sales increased by 6,7% and comparable sales increased by 0,4%, showing an encouraging turnaround that seems to have commenced in mid-December 2009.

These recent sales trends suggest that the worst is behind us, and should the current trends and currency values continue, Massmart could comfortably grow operating profits, before foreign exchange, in the second half and perhaps even for the 2010 financial year.

The financial information on which this outlook statement is based has not been reviewed or reported on by the Company’s external auditors.