MURRAY & ROBERTS HOLDINGS LIMITED - DEALING IN SECURITIES BY DIRECTOR

MURRAY & ROBERTS HOLDINGS LIMITED - DEALING IN SECURITIES BY DIRECTOR           
MURRAY & ROBERTS HOLDINGS LIMITED                                               
(Incorporated in the Republic of South Africa)                                  
Registration number 1948/029826/06                                              
JSE Share Code: MUR                                                             
ISIN Code: ZAE000008983                                                         
Dealing in Securities by directors and the company secretary of Murray & Roberts
Holdings Limited ("MRH") and directors of Murray & Roberts Limited ("MRL"),     
being a major subsidiary of MRH, as defined in terms of the Listing             
Requirements, as well as by Senior Executives of MRH                            
In compliance with paragraphs 3.63 to 3.65 of the Listings Requirements of the  
JSE Securities Exchange South Africa ("JSE"), the following information is      
disclosed:                                                                      
The Trustees of the Murray & Roberts Trust ("the Trustees") have approved a     
regular grant of options on ordinary shares in MRH in terms of the MRH Employee 
Share Incentive Scheme ("the Scheme) totalling 1 565 000 shares or 0,47% of the 
Company"s issued share capital, on 15 March 2004 at a strike price of R13,04 per
share being the volume weighted average price of the shares on Friday,          
12 March 2004.                                                                  
These grants were made as follows:                                              
Executive Directors of Options under Standard  Options under Hurdle             
MRH                    Scheme                  Scheme                           
B C Bruce              70 000                  140 000                          
R W Rees               90 000                   90 000                          
K E Smith              50 000                   55 000                          
                       210 000                 285 000                          
Company Secretary of   Options under Standard  Options under Hurdle             
MRH                    Scheme                  Scheme                           
E Marx                 15 000                   15 000                          
Directors of MRL       Options under Standard  Options under Hurdle             
                       Scheme                  Scheme                           
M W Arnold              40 000                  40 000                          
R J Berndt              40 000                  40 000                          
S J Flanagan            45 000                  45 000                          
S D Pell                50 000                  50 000                          
190 000                 190 000                          

Senior Executives of   Options under Standard  Options under Hurdle             
MRH                    Scheme                  Scheme                           
Seventeen Executives   310 000                 380 000                          
Options granted under the standard scheme will vest at a rate of 25% on each of 
the second, third, fourth and fifth anniversaries of the option date.           
Options granted under the hurdle scheme require that the Company"s share price  
must increase by CPI plus 4% per annum compounded from the grant date, for the  
options to vest at the rate of 25% on the second, third, fourth and fifth       
anniversaries of the option.                                                    
Special grant of share options on ordinary shares                               
The Trustees have made a special allocation of 150 000 options under the        
Standard Scheme and 100 000 options under the Hurdle Scheme to Mr N Jorek in    
fulfilment of the terms of his employment contract. This allocation represents  
0,08% of the Company"s issued share capital.                                    
General                                                                         
It is the policy of MRH to acquire from the market, the shares required to      
fulfil its commitment in terms of the Scheme.                                   
Johannesburg 17 March 2004                                                      
Sponsor                                                                         
Merrill Lynch South Africa (Pty) Limited                                        
Date: 19/03/2004 04:24:03 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department