Reconciliation of headline earnings with net earnings

International Financial Reporting Standards Basis

Figures are in millions unless otherwise stated

*South African Rand*		*Quarter*		*Six months to*
	June 2012	March 2012	June 2011	June 2012	June 2011
Net earnings	1,606.4	2,081.7	1,266.8	3,688.1	2,367.2
(Profit)/loss on sale of assets	(0.7)	(1.7)	2.4	(2.4)	3.7
Taxation effect on sale of assets	0.4	0.3	(0.3)	0.7	(0.6)
Impairment of investments and assets	73.9	17.3	1.2	91.2	1.2
Headline earnings	1,680.0	2,097.6	1,270.1	3,777.6	2,371.5
Headline earnings per share – cents	230	290	176	520	329
Based on headline earnings as given above divided by 728,425,816 (March 2012 – 723,776,008 and June 2011 – 721,981,479) being the weighted average number of ordinary shares in issue.

*United States Dollars*		*Quarter*		*Six months to*
	June 2012	March 2012	June 2011	June 2012	June 2011
Net earnings	198.0	267.8	186.3	465.8	344.0
(Profit)/loss on sale of assets	(0.1)	(0.2)	0.3	(0.3)	0.5
Taxation effect on sale of assets	-	0.1	(0.1)	0.1	(0.1)
Impairment of investments and assets	9.3	2.2	0.2	11.5	0.2
Headline earnings	207.2	269.9	186.7	477.1	344.6
Headline earnings per share – cents	29	37	26	66	48
Based on headline earnings as given above divided by 728,425,816 (March 2012 – 723,776,008 and June 2011 – 721,981,479) being the weighted average number of ordinary shares in issue.