SHOPRITE HOLDINGS LIMITED - TRADING UPDATE AT ANNUAL GENERAL MEETING

SHOPRITE HOLDINGS LIMITED - TRADING UPDATE AT ANNUAL GENERAL MEETING            
SHOPRITE HOLDINGS LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1936/007721/06)                                            
ISIN no: ZAE 000012084                                                          
JSE share code: SHP                                                             
NSX share code: SRH                                                             
LuSE share code: SHOPRITE                                                       
("Shoprite")                                                                    
TRADING UPDATE AT ANNUAL GENERAL MEETING                                        
The following trading update for the three months ended September 2003 was      
presented at the Shoprite Holdings Limited Annual General Meeting which         
commenced at 09:15 this morning.                                                
1.   Satisfactory trading results, in line with expectations, have been achieved
     for the Group.   Earnings were further boosted by an improvement in net    
finance income resulting from better stock management.                     
2.   As a result of the low food inflation that varied between 3% and 6% over   
     the same period last year, and the resultant impact of negative food       
     inflation on basic foodstuffs such as maize, rice and edible oil, turnover 
was impacted negatively in our lower LSM stores which sell a high          
     proportion of these products.                                              
3.   Satisfactory results have been achieved in terms of our customer growth,   
     which for the South African operations increased 6.84% over last year, and 
for the non South-African operations increased 2.3%.                       
4.   We are satisfied with our growth in market share on like-for-like stores,  
     which for the month of September showed growth in all trading divisions    
     except for one division in both the Checkers and Shoprite formats.         
5.   The Furniture Division experienced buoyant trading conditions in line with 
     the industry.  However, results for our Franchise Operations reflect the   
     difficult and competitive market conditions since year-end.                
6.   During the 3 month period, 3 supermarkets and 5 USave stores were opened in
South Africa, with 1 supermarket and 3 USaves opening outside South Africa.
     Our latest new store outside South Africa opened during September in Angola
     and is operating very successfully.   We have already approved an increase 
     to the trading area of the store in Luanda.                                
7.   The Group plans to open a further 60 stores to June 2004.                  
8.   We are extremely satisfied with the growth in both turnover and            
     profitability of the Limited Assortment group USave, which to date has 25  
     stores with a further 30 planned to June 2004.                             
9.   The Company has been involved in a national strike called by SACCAWU since 
     Thursday, 23 October 2003.  The dispute arose out of the implementation of 
     the new Sectoral Determination for the retail and wholesale industry which 
     became effective on 1 February 2003.                                       
The Union is demanding that Shoprite restores a wage premium for part-time      
workers and guarantees a fixed number of hours employment per month.  This would
totally eliminate the flexibility which lies at the heart of part-time          
employment in the industry and which is recognised in the new Sectoral          
Determination.                                                                  
Talks are underway with SACCAWU to resolve the dispute, but it is too early to  
determine what impact the strike will have on operations.                       
In the interim, contingency arrangements have ensured that trading is continuing
with minimum disruption.                                                        
Cape Town                                                                       
28 October 2003                                                                 
Sponsor:                                                                        
Nedbank Corporate                                                               
Date: 28/10/2003 10:59:05 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department