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Trading Update

Aspen shareholders are hereby advised that earnings per share, for the 6 months ended 31 December 2008, are forecast to exceed those reported in the comparative period ended 31 December 2007, by 45-60%. Headline earnings per share are forecast to exceed those of the comparative period by 65-80%. As anticipated, a strong contribution from Aspen’s recently expanded international operations has been the leading growth driver.

The difference between the quantum of the anticipated percentage increase in earnings per share and in headline earnings per share is due to non-recurring capital profits being included in earnings per share in the comparative period.

The financial results on which this trading announcement is based have not been
reviewed or reported on by Aspen’s external auditors.

Aspen’s results are expected to be published on SENS on 05 March 2009.

Investec Bank Limited

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