Trading Statement

Marshall Monteagle Holdings Société Anonyme                  

           (Incorporated in Luxembourg - RC Luxembourg No. B 19600)            

                            ISIN Code: LU0035797272                            

                                 ("Marshall")                                  

Registered Office:

58 rue Charles Martel,

L-2134, Luxembourg

                               TRADING STATEMENT                               

In terms of the JSE Limited Listings Requirements, companies are required to
publish a trading statement as soon as they are reasonably certain that the
financial results for the current reporting period will be more than 20%
different from that of the previous corresponding period.

Marshall accordingly advises that it expects that headline earnings per share
for the six month financial period ended 31st March 2010 are likely to increase
by between 500% and 520% to those of the comparative period of last year and
earnings per share for the same financial period ended 31st March 2010 are
likely to increase by between 100% and 120% compared with those of the
comparative period of last year.

Shareholders are advised that the above information has not been reviewed or
reported on by Marshall's external auditors.

The announcement of Marshall's results for the period ended 31st March 2010 is
expected to be made on or about 4th June 2010.

Luxembourg

2nd June 2010

City Group P.L.C.

Group Secretaries