MASSMART - NOTIFICATION OF SUBSIDIARY DIRECTOR"S DEALING IN MASSMART HOLDINGS

MASSMART - NOTIFICATION OF SUBSIDIARY DIRECTOR"S DEALING IN MASSMART HOLDINGS   
           LIMITED SECURITIES                                                   
MASSMART HOLDINGS LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1940/014066/06)                                            
(Share code:MSM))                                                               
(ISIN: ZAE000029534)                                                            
("Massmart")                                                                    
NOTIFICATION OF SUBSIDIARY DIRECTOR"S DEALING IN MASSMART HOLDINGS LIMITED      
SECURITIES                                                                      
In compliance with rule 3.63 to 3.74 of the JSE Listings Requirements, the      
following dealings in the securities of Massmart have taken place by a director 
of a subsidiary company:                                                        
Director:                     D Kalan                                           
Number of securities:         69,500                                            
Class of security:            Ordinary                                          
Nature of interest:           Direct, beneficial                                
Nature of transaction:        Sale                                              
Date:                         2 September 2004                                  
Price:                        R35.7065 per share                                
Shareholding:                 The shares sold represent 25.4% Mr Kalan"s        
                              Massmart shares, or options to buy shares, held in
                              terms of the rules of the Massmart Holdings       
Limited Employee Share Trust".                    

The required clearance per section 3.66 of the Listings Requirements was        
obtained.                                                                       
3 September 2004                                                                
Johannesburg                                                                    
Sponsor to Massmart:                                                            
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 03/09/2004 04:57:30 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department