MASSMART Holdings Limited - Massmart Board Is Strengthened By Appointment Of New

MASSMART Holdings Limited - Massmart Board Is Strengthened By Appointment Of New
                            Non- Executive Directors                            
JSE Code - MSM,                                                                 
ISIN - ZAE000029534,                                                            
Company Registration Number - 1940/014066/05                                    
MASSMART BOARD IS STRENGTHENED BY APPOINTMENT OF NEW NON- EXECUTIVE DIRECTORS   
Massmart, South Africa`s third largest distributors of consumer goods, the      
leader in general merchandise and liquor and the fourth largest in food, today  
announced the appointment of three independent non-executive directors.  These  
changes will be effective from 1 March 2003.                                    
These appointments not only support the recommendations of the King II code of  
corporate governance but also bolster the board`s functional competence.        
These new appointments are a direct result of the King II review process, which 
was established to ensure compliance with King II                               
The new independent board appointments are:                                     
Dods Brand (59) is at present the Chairman and majority shareholder of P.O.S.S.E
Management Group (Pty) Ltd and P.O.S.S.E Investment Holdings. He has extensive  
experience in the field of retail.  In 1994 he was appointed CEO of The Morkels 
Retail Group Limited.  In addition he has held a number of senior positions     
within the Morkels chain and was also appointed to the board of KAP Betailigungs
AG, a Frankfurt listed company, positions from which he has now retired.        
Zitulele (KK) Combi (51) is currently the Executive Chairman of Master Currency.
He is also holds Directorships at the VAT refund Company and the Provincial     
Board of ABSA. In 2001 he was awarded the Cape Times Business Personality of the
Year, the IMM Award for Outstanding Achievement and was named Ernst & Young`s   
World Entrepreneur of the Year Award for Managing Change.                       
Peter Maw (41) is the founding shareholder and previous director of Merhold,    
Merhold Kirsh Capital and Primedia Limited.  He is currently a non-executive    
director and Audit committee member of Primedia.  He is a qualified accountant  
and is a specialist in corporate finance, mergers and acquisitions.             
-ends-                                                                          
For media enquiries:                                                            
Rob Pinker          Brunswick      011 268 5750 or 083 326 7794                 
Taryn Proksch       Brunswick      011 268 5750 or 083 273 1301                 
26 February 2003                                                                
Date: 26/02/2003 12:45:00 PM Supplied by www.sharenet.co.za                     
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