MASSMART HOLDINGS LIMITED - RESULTS OF GENERAL MEETING

MASSMART HOLDINGS LIMITED
  (Incorporated in the Republic of South Africa)
  (Registration number 1940/014066/06)
  ("Massmart" or the company)
Results of general meeting

Shareholders  are  advised  that,  at  the  general  meeting   of   Massmart
shareholders held on Tuesday, 24 July 2001, the ordinary resolution required
to approve the acquisition of the following:

*  Jumbo  Cash & Carry (Proprietary) Limited, including 22 Brown  and  Weirs
stores, from Rebhold Limited ("Rebhold") and Tiger Food Brands Limited; and
*  Sip  'n Save division ("Sip 'n Save ") from Picardi Liquors (Proprietary)
Limited,    a   wholly-owned   subsidiary   of   Rebhold   (together,    the
"Acquisitions"),

was passed by the requisite majority of Massmart shareholders.

   170 283 024 votes, representing 86,5% of the issued share capital of  the
company, were received in favour of the ordinary resolution, with zero votes
against and zero votes abstaining.

   The  only  condition  precedent that remains to be fulfilled  before  the
completion  of the Acquisitions is the written approval of the  Acquisitions
from the Competition Tribunal.
  Johannesburg
  24 July 2001
Financial advisor
  UBS Warburg Corporate Finance (SA) (Pty) Ltd
  A financial services group of UBS AG
  (Registration number 1994/008363/07)
Sponsor
  UBS Warburg Securities South Africa (Pty) Ltd
  A financial services group of UBS AG

  (Member of the JSE Securities Exchange South Africa)
  (Registration number 1995/011140/07)
Corporate law advisors and consultants
  Edward Nathan & Friedland (Pty) Ltd
  (Registration number 1999/026464/07)
Independent reporting accountants
  Deloitte & Touche