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Tue 22 Jun 2004, 17:31 DIRECTORS DEALINGS IN SECURITIES
AVASA HOLDINGS LIMITED - DIRECTORS DEALINGS IN SECURITIES                       
Avasa Holdings Limited                                                          
Incorporated in the Republic of South Africa)                                   
(Registration number 1998/013637/06)                                            
JSE Share code: AVA                                                             
ISIN ZAE 000040622                                                              
(`AVASA`)                                                                       
DIRECTORS DEALINGS IN SECURITIES                                                
In compliance with Rule 3.63 of the JSE Securities Exchange South Africa Listing
Requirements the following information regarding the dealings in ordinary shares
by a director is disclosed:                                                     
Director:                     Andrew Bonamour                                   
Date of transaction:          21 June 2004                                      
Class of security:            Ordinary shares                                   
Nature of transaction:        Purchase                                          
Number of shares:             250 000                                           
Price per share:              5 cents                                           
Value of transaction:         R12 500                                           
Nature of interest:           Indirect beneficial                               
Clearance to deal was received in terms of paragraph 3.66 of the JSE Listings   
Requirements.                                                                   
22 June 2004                                                                    
Rosebank                                                                        
Date: 22/06/2004 05:24:16 PM                      
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