F A R M E R S H O U S E P L C

CNR. CHURCH & CAIRO ROADS, LUSAKA. P.O.BOX 30012, LUSAKA 10101, ZAMBIA

TELEPHONE: 228682/3 OR 222941. FACSIMILE: 222906

Interim Results - 2010/2011

Statement of results for the six months ended 30th September 2010

K’ Million 6 months to 30.09.2010

K’ Million Year to

31.03.2010

K’ Million 6 months to 30.09.2009

Unaudited Audited Audited Turnover 9,585 20,140 9,512 Operating Profit before Finance Income/(Expense) _5,606 _13,135 _5,698 Fair value adjustment of investment properties – IAS 40 0 44,867 0 Interest on short term commercial paper (3,826) (2,429) 0 Net Finance Income/(Expense) 202 (32,918) (1,991) Profit before Taxation (attributable to shareholders) 1,982 _22,655 _3,707 Taxation (1,068) (2,795) (1,398) Profit after tax _ 914 _19,860 _2,309 Dividend on Ordinary shares (Kwacha per share)

- Interim - Final

50

-

50 60

50

- Headline Earnings per share (on Operating Profit): 131.15 307.28 133.30 Earnings per share before tax: 46.37 529.99 86.72 Earnings per share after tax: 21.38 464.61 54.02 Share Capital – issued and fully paid ordinary shares @K1.00 each:

42,745,912

42,745,912

42,745,912

In compliance with the requirements of the (Registration of Securities) Rules, 1993, Farmers House Plc announces the results of the company for the six months ended 30th September 2010. These interim results are derived from the company’s management accounts, which have been approved by the Directors, but have not been audited. Current & Future Company Performance From the resources made available from the short term Commercial Paper issued on 30th November 2009 the Company acquired new properties – Eureka Park and Counting House Square in Lusaka. It will shortly be acquiring more such properties. Income from these properties will be reflected in the second half of the year. In line with approvals provided by members in General Meeting, the Company has embarked on a US$15 million long term Corporate Bond Rights Offer that is open from 26th October 2010 to 12th November 2010. Shareholders will have received the offer circular recently – please contact the company if you have not received the same. This issue will further consolidate Farmers House Plc’s position as the leading property development and investment company in the country. Compliance with International Financial Reporting Standards In order to conform to best international accounting practice, the interim results are drawn up under these standards. In particular, attention is drawn to IAS 40: Investment Property which requires that investment properties are stated at “fair value”. The Directors, from time to time, carry out fair value valuations and as a result have taken independent valuation advice in arriving at fair value. In compliance with the standard any gain or loss arising from a change in fair value is recognised in the income statement, as shown above in the Audited Accounts to 31st March 2010. The company’s policy is to provide a formal third-party valuation annually, which valuation will re-occur as at 31st March 2011. Interim Dividend The Company wishes to announce that an interim dividend of K50 per share for the year ending 31st March 2011 has been declared payable to ordinary shareholders registered in the company’s books at the close of business on 10th December 2010. The transfer books of the company will be closed from the 13th to 20th December 2010 (both dates inclusive). Dividend warrants will be posted on or about 28th January 2011. BY ORDER OF THE BOARD T. T. Mushibwe R.P.S. Miller Chairman Managing Director Lusaka 8th November 2010