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Fri 21 May 2004, 9:46 Dealings In Securities By Directors
Explorer - Dealings In Securities By Directors 

Release Date: 21/05/2004 09:24:16      Code(s): ICC        
EXPLORER - DEALINGS IN SECURITIES BY DIRECTORS                                  
Industrial Credit Company Africa Holdings Limited                               
(Formerly Explorer Corporation Holdings Limited                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1997/010950/06)                                            
(`Explorer` or `the company`)                                                   
JSE Share code: ICC                                                             
ISIN: ZAE000053203                                                              
DEALINGS IN SECURITIES BY DIRECTORS                                             
In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the  
JSE Securities Exchange South Africa, the following information is disclosed:   
Name of director:                       Kevin Jones                             
Date of transaction:                    19 May 2004                             
Number of shares:                       10 000                                  
Price per share:                        35 cents                                
Class of securities:                    Ordinary shares                         
Nature of transaction:                  Sale                                    
Nature of interest and                                                          
extent of change:                       Beneficial direct (0,0086%)             
Name of director:                       Yousef Bazian                           
Date of transaction:                    18 May 2004                             
Number of shares:                       4 000                                   
Price per share:                        29 cents                                
Class of securities:                    Ordinary shares                         
Nature of transaction:                  Purchase                                
Nature of interest and                                                          
extent of change:                       Beneficial direct (0,0034%)             
Name of director:                       Yousef Bazian                           
Date of transaction:                    18 May 2004                             
Number of shares:                       27 318                                  
Price per share:                        30 cents                                
Class of securities:                    Ordinary shares                         
Nature of transaction:                  Purchase                                
Nature of interest and                                                          
extent of change:                       Beneficial direct (0,023%)              
Name of director:                       Yousef Bazian                           
Date of transaction:                    19 May 2004                             
Number of shares:                       10 000                                  
Price per share:                        35 cents                                
Class of securities:                    Ordinary shares                         
Nature of transaction:                  Purchase                                
Nature of interest and                                                          
extent of change:                       Beneficial direct (0,0086%)             
Clearance for the share dealings was obtained in compliance with paragraph 3.66 
of the JSE Listings Requirements.                                               
Johannesburg                                                                    
20 May 2004                                                                     
Sponsor                                                                         
Arcay Group Limited                                                             
(Registration number 1991/003944/06)   
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