TIGER BRANDS LIMITED
"Tiger Brands", or "the Company"
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080

Tiger Brands believes that sufficient certainty exists with regard to its performance for the year ended 30 September 2010 to enable it to issue this trading statement.

Shareholders are advised that, having considered the latest financial information in respect of the year ended 30 September 2010, it is expected that headline earnings per share ("HEPS") and earnings per share ("EPS") will reflect declines of between 1% and 4% and between 11% and 14% respectively, compared to the previous financial year.

As advised previously to shareholders, Tiger Brands implemented its BEE Phase II transaction in October 2009. This transaction gave rise to a once-off charge amounting to R152,7 million after tax, which is disclosed as an abnormal item in the income statement for the year ended 30 September 2010. Excluding this amount, HEPS is expected to show an increase of between 4% and 7% compared to the figure of 1 407.4 cents reported in respect of the previous financial year.

The results for the year ended 30 September 2010 will be released on 24 November 2010 when a detailed analysis of the performance of the Company will be provided. The information in this trading statement has not been reviewed or reported on by the Company's auditors.

Bryanston
Date: 08 November 2010

Sponsor
JP Morgan Equities Limited