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Wed 12 May 2004, 12:26 DIRECTOR"S DEALING IN SECURITIES
PICK N PAY HOLDINGS LTD - DIRECTOR"S DEALING IN SECURITIES                      
  Pick `n Pay Holdings Ltd                                                        
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1981/009610/06)                                            
  JSE Share code: PWK                                                             
  ISIN: ZAE000005724                                                              
  DIRECTOR"S DEALING IN SECURITIES                                                
  Please note the following transaction:                                          
  Director:                     Mrs W Ackerman                                    
  Date of transaction:               11 May 2004                                  
  Nature of transaction:        Purchase                                          
  Number of shares:             45 000                                            
  Price per share:              816,42 cents per share                            
  Class of security:            Ordinary                                          
  Directors interest:           Indirect beneficial                               
  Clearance to trade in terms of 3.66 of the JSE Listing Requirements has been    
  given by the Chairman.                                                          
  12 May 2004                                                                     
  Date: 12/05/2004 11:48:24 AM Produced by the JSE SENS Department
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