Massmart - SEPARATION OF THE ROLES OF CHAIRMAN AND CHIEF EXECUTIVE OFFICER

Massmart - SEPARATION OF THE ROLES OF CHAIRMAN AND CHIEF EXECUTIVE OFFICER      
MASSMART HOLDINGS LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1940/014066/06)                                            
Share code MSM                                                                  
ISIN ZAE000029534                                                               
("Massmart" or "the Group")                                                     
SEPARATION OF THE ROLES OF CHAIRMAN AND CHIEF EXECUTIVE OFFICER                 
In keeping with its stated intention, and in compliance with the recommendations
of the King 2 Code of Corporate Governance and the newly announced rules of the 
Johannesburg Securities Exchange, the Board of Massmart has decided to separate 
the roles of Chairman of the Board and Chief Executive Officer, both currently  
defined as the responsibility of the Executive Chairman, a position held by Mr. 
Mark Lamberti since 1997.                                                       
Mr Christopher Seabrooke, an independent non-executive director since 2000 and  
currently Deputy Chairman will be appointed non-executive Chairman of the Board 
with effect from the 1st July 2003.                                             
Mr Mark Lamberti will remain Chief Executive Officer and will be appointed      
Deputy Chairman on the same date.                                               
SENIOR EXECUTIVE CHANGE                                                         
Following an initial five-year commitment made in 1998 on the acquisition of    
Game by Massmart, Mr. Dan Barrett, currently Deputy Chief Executive, will resign
as an executive on the 31st December 2003 but remain a member of the Board of   
Directors.                                                                      
His executive duties will be assumed by Chief Executive Officer Mr. Mark        
Lamberti and other members of the recently enhanced Massmart Executive          
Committee.                                                                      
Mr Barrett"s decision was prompted by the conflict between his desire to remain 
resident in Durban, devoting more time to his family and private affairs, and   
the increasingly onerous travel schedule demanded by the rapid growth of        
Massmart and the Johannesburg location of the Group"s corporate office.         
Over the past five years Mr Barrett assumed increasing responsibility for       
Massmart"s operations and assisted more generally with the leadership of the    
Group.  In doing so, he made an important contribution to the direction and     
performance of Massmart.  Those who worked closely with him benefited from his  
experience.                                                                     
We wish him well in his future endeavours.                                      
Johannesburg                                                                    
27 May 2003                                                                     
Date: 27/05/2003 05:15:04 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department