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Fri 21 May 2004, 16:25 DEALING IN SECURITIES BY DIRECTOR
PICK `N PAY HOLDINGS LTD - DEALING IN SECURITIES BY DIRECTOR                    
  Pick `n Pay Holdings Ltd                                                        
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1981/009610/06)                                            
  Share code:  PWK   ISIN: ZAE000005724                                           
  In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, the       
  following information is disclosed:                                             
  Company director         :    Gareth Ackerman                                   
  Number of shares         :    667149                                            
  Price per share          :    R1.08                                             
  Date of transaction      :    21 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         
  Date: 21/05/2004 03:06:49 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
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