MASSMART HOLDINGS LIMITED - TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT FOR THE

MASSMART HOLDINGS LIMITED - TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT FOR THE  
2004 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 AND CAUTIONARY ANNOUNCEMENT FOR THE 2004 FINANCIAL YEAR          
For the 52 weeks to 27 June 2004, total Massmart Group sales, including         
acquisitions, were approximately R23.8 billion, 16.7% ahead of the 52 weeks to  
June 2003.                                                                      
Before acquisitions and new stores, the Group performed in line with            
expectations with comparable store sales growth of 9.9%.  In addition, new      
stores added sales growth of 2.0% while acquisitions contributed growth of 4.8%.
The financial information on which this trading statement is based has not been 
reported on or reviewed by Massmart"s auditors and accordingly shareholders are 
advised to exercise caution when trading in Massmart shares until publication of
the June 2004 financial year-end results on 26 August 2004.                     
Johannesburg                                                                    
02 July 2004                                                                    
Sponsor to Massmart:                                                            
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 02/07/2004 08:16:02 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department