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Thu 26 Feb 2004, 15:25 DEALING IN SHARES BY A DIRECTOR
M CUBED HOLDINGS LIMITED - DEALING IN SHARES BY A DIRECTOR                      
  M CUBED HOLDINGS LIMITED                                                        
  Registration number: 1998/014568/06                                             
  JSE Share Code: MCU                                                             
  ISIN Number: ZAE000033353                                                       
  ("m Cubed")                                                                     
  DEALING IN SHARES BY A DIRECTOR                                                 
  In accordance with the JSE Securities Exchange South Africa Listing             
  Requirements, the following should be noted:                                    
  Director:                              J du Toit                                
  Executive/Non-executive:               Non-Executive                            
  Date of transaction:                   25 February 2004                         
  Type of Securities:                    Ordinary Shares                          
  Nature of transaction:                 Transfer as a result of restructuring in 
                                         PSG Investment Services during 2003      
  Number of shares:                      3 749 260                                
  Nature and extent of interest                                                   
  in transactions:                       Indirect / Beneficial                    
  Confirmation that clearance has                                                 
  been given in terms of                                                          
  paragraph 3.66:                        Yes                                      
  Date of confirmation:                  25 February 2004                         
  Date: 26/02/2004 03:14:47 PM Produced by the JSE SENS Department
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