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Fri 5 Dec 2003, 15:47 DEALING IN SECURITIES BY A DIRECTOR
INVICTA HOLDINGS LIMITED - DEALING IN SECURITIES BY A DIRECTOR                  
INVICTA HOLDINGS LIMITED                                                        
Incorporated in the Republic of South Africa                                    
(Registration number 1966/002182/06)                                            
("Invicta")                                                                     
Share code: IVT                                                                 
ISIN code: ZAE000029773                                                         
DEALING IN SECURITIES BY A DIRECTOR                                             
In terms of paragraph 3.63 - 3.65 of the Listings Requirements of the JSE       
Securities Exchange South Africa, the following information is disclosed:       
Executive director:                A Goldstone                                  
Director of:                       Invicta                                      
Transaction date:                  3 December 2003                              
Nature of transaction:             Sale of shares in the open market            
Number of shares sold:             229 319                                      
Price:                             R7.65                                        
Value:                             R1 754 290                                   
Share Class:                       Ordinary shares                              
Extent of interest:                Direct Beneficial                            
Written clearance to deal:         Yes                                          
Executive director:                A Goldstone, who has an indirect beneficial  
                                   interest in Soundprops 1091 (Pty) Ltd, the   
                                   entity which entered into the transaction.   
Director of:                       Invicta                                      
Transaction date:                  3 December 2003                              
Nature of transaction:             Sale of shares in the open market            
Number of shares sold:             88 981                                       
Price:                             R7.65                                        
Total value:                       R680 704                                     
Share Class:                       Ordinary shares                              
Extent of interest:                Indirect Beneficial                          
Written clearance to deal:         Yes                                          
Johannesburg                                                                    
5 December 2003                                                                 
Sponsor:                                                                        
Nedbank Corporate                                                               
Date: 05/12/2003 03:40:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
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