In a trading update late yesterday, Freeworld announced that it expects its EPS and HEPS to be between 20% and 30% lower.

The major blame for this--besides the continuing generally weaker economy--is the negative mark-to-market adjustmenst from the strong ZAR, the higher non-cash flow depreciation and amortization charges stemming from greater capital asset investments by the Group, and the fact that the prior period`s assessed losses have been fully utilized.

The interim results are expected to be published on or around 26 May 2010.

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