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Thu 20 May 2004, 12:09 DEALINGS IN SECURITIES BY DIRECTORS
PICK `N PAY STORES LTD -DEALINGS IN SECURITIES BY DIRECTORS                     
PICK `N PAY STORES LTD                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1968/008034/06)                                            
Share code:  PIK   ISIN: ZAE000005443                                           
DEALINGS IN SECURITIES BY DIRECTORS                                             
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, the       
following information is disclosed:                                             
Company director         :    Dennis Cope                                       
Number of shares         :    120 000                                           
Price per share          :    R3.00                                             
Date of transaction      :    20 May 2004                                       
Class of shares          :    Ordinary                                          
Nature of transaction    :    Take up and purchase of shares pursuant to        
                              exercise of share options                         
Nature of interest       :    Indirect beneficial                               
Approval                 :    Approval obtained from executive director         
20 May 2004
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