PICK N PAY HOLDINGS LIMITED - Disclosure of Disposal of Shares

Disclosure of Disposal of Shares

Pick n Pay Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1981/009610/06)
Share code: PWK ISIN code: ZAE000005724



DISCLOSURE OF DISPOSAL OF SECURITIES IN PICK N PAY HOLDINGS
LIMITED

In accordance with section 122(3)(b) of the Companies Act and section 3.83(b)
of the JSE Listings Requirements, shareholders are advised that Investec Asset
Management Holdings Proprietary Limited, on behalf of segregated clients, has
disposed of shares in the company, reducing its total beneficial interest from
5.09% to 4.98% of the total number of shares in issue.

Formal notification has been received from Investec Asset Management Holdings
Proprietary Limited, and Pick n Pay Holdings Limited has filed the required notice
with the Takeover Regulation Panel.



By order of the board
Cape Town
16 November 2012

Sponsor:
Investec Bank Limited

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