Massmart - Notification of subsidiary Directors" dealing in Massmart Holdings

Massmart - Notification of subsidiary Directors" 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 Directors" 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 Holdings Limited have taken    
place by directors of the company:                                              
Director:                          RM Barrell                                   
Subsidiary:                        Massdiscounters                              
Number of securities:              12,500                                       
Class of security:                 Ordinary                                     
Nature of interest:                Direct, beneficial                           
Nature of transaction:             Sale                                         
Date:                              21 October 2004                              
1.   Nature of transaction:        Exercise of options                          
     Price:                        R10.95 per option                            
     Nature of transaction:        Sale of shares                               
Price:                        R42.00 per share                             
3.   Total transaction value:      R525,000                                     
Shareholding:                      The shares sold represent 10.59% of Mr       
                                   Barrell"s Massmart shareholding comprising   
direct purchases and/or shares acquired in   

                                   terms of the rules of the Massmart Holdings  
                                   Limited Employee Share Trust.  After the     
                                   abovementioned sale, Mr Barrell still holds  
119,865 shares or options".                  

22 October 2004                                                                 
Johannesburg                                                                    
Sponsor to Massmart:                                                            
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 22/10/2004 12:28:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department