Massmart Holdings Limited - Trading Update For The First Half Of The 2002

Financial Year
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1940/014066/06)
Share code MSM ISIN ZAE000029534
("Massmart")

TRADING UPDATE FOR THE FIRST HALF OF THE 2002 FINANCIAL YEAR

For the 26 weeks to 23 December 2001, sales including acquisitions were
R7,9b, 32% ahead of the comparable period and ahead of budget.

CCW and Massdiscounters produced sales growth in excess of budget and
expectations. Throughout the half-year, general merchandise sales grew
faster than food and liquor. Comparable store sales growth was 12%. Pre-
acquisition sales in the month of December grew by over 14% on the previous
year and by 34% including acquisitions.

The full results for the half-year will be published on the 26 February
2002.

Shareholders are reminded that the acquisition of Furnex, announced on 18
December 2001 and subject to approval by the Competitions Commission, is
effective from the 1 January 2002 and will not affect these results.

The deterioration in the Rand and the concomitant effect on the cost of
imported merchandise has not altered the Directors' view on Massmart's
prospects for the year to June 2002.
Sandton
7 January 2002
Sponsor
UBS Warburg