MSM - Massmart - Notification of acceptance of share options by an Executive

MSM - Massmart - Notification of acceptance of share options by an Executive    
Committee Member and Director of a Subsidiary Company of Massmart Holdings      
Limited                                                                         
Massmart Holdings Limited                                                       
(Incorporated in the Republic of South Africa)                                  
Company registration No. 1940/014066/06                                         
JSE Code: MSM                                                                   
ISIN: ZAE000152617                                                              
("Massmart")                                                                    
Notification of acceptance of share options by an Executive Committee Member and
Director of a Subsidiary Company of Massmart Holdings Limited                   
In compliance with rules 3.63 to 3.66 of the JSE Listings Requirements, we      
hereby advise that share options in Massmart securities have been offered to an 
eligible employee. These share options were offered on 01 March 2012 at a strike
price of R 174.8819 being the 5 day volume weighted average price on 29 February
2012, in terms of the rules of the Massmart Holdings Limited Employee Share     
Trust. This offer was approved by the Massmart Holdings Limited Remuneration and
Nominations Committee.                                                          
The total allocation of these share options is 62,344.The acceptance date of the
share options by the beneficiary listed below is 23 April 2012. These share     
options are exercisable as to one quarter each in March 2014, March 2015, March 
2016 and March 2017.                                                            
Name:                         Neville Dunn                                      
Position held:                Managing Director                                 
Company:                      Masscash                                          
Number of securities:         62,344                                            
Total value:                  R10,902,837.18                                    
Class of security:            Option on ordinary shares                         
Nature of interest:           Direct/Beneficial                                 
The required clearance per section 3.66 of the JSE Listings Requirements was    
obtained.                                                                       
Johannesburg                                                                    
23 April 2012                                                                   
Sponsor: Deutsche Securities (SA) Proprietary Limited                           
Date: 23/04/2012 14:59:09 Supplied by www.sharenet.co.za                     
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