Computation of normalised earnings (UNAUDITED)

The group believes that normalised earnings more accurately reflects operational performance.Headline earnings are adjusted to take into account non-operational and accounting anomalies.

For the period ended 30 June   2011  
R million   Unaudited  
Headline earnings attributable to equity holders   525  
RMI Holdings’ share of normalised adjustments made by associates:    
  Net realised and fair value losses on excess   19  
  Basis and other changes and investment variances   47  
  Amortisation of intangible assets relating to business combinations   50  
  Other   12  
  Treasury shares   –  
  IFRS 2 share based expenses   1  
Normalised earnings after normalised adjustments of associates   654  
Adjustment for:    
  Group treasury shares   (18) 
Normalised earnings attributable to equity holders   636