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Fri 23 Jul 2004, 11:32 DEALING IN SECURITIES BY DIRECTORS
COMBINED MOTOR HOLDINGS LIMITED - DEALING IN SECURITIES BY DIRECTORS            
COMBINED MOTOR HOLDINGS LIMITED                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1965/000270/06)                                            
Share code: CMH   ISIN code: ZAE000001541                                       
DEALING IN SECURITIES BY DIRECTORS                                              
In compliance with paragraphs 3.63 to 3.74 of the JSE Securities Exchange South 
Africa Listings Requirements, the following information is disclosed:           
Director                           : MPD Conway                                 
Transaction                                                                     
Date of transaction                : 22 July 2004                               
Price per share          .         : R 23.25                                    
Number of shares                   : 981 ordinary                               
Total value                        : R 22 808.25                                
Class of securities                : Ordinary shares                            
Nature of transaction              : Sale and exercise of options               
Extent of interest                 : Direct and beneficial                      
Confirmation of clearance          : Clearance to deal was granted              
Exercise of options                                                             
Date options granted               : 1 June 2000                                
Option price:                      : R5.52                                      
Date exercised                     : 1 June 2000                                
Market price at date of exercise   : R6.90                                      
Director                           : CL Odendall                                
Transaction                                                                     
Date of transaction                : 22 July 2004                               
Price per share                    : R 23.25                                    
Number of shares                   : 14 919 ordinary                            
Total value                        : R 346 866.75                               
Class of securities                : Ordinary shares                            
Nature of transaction              : Sale                                       
Extent of interest                 : Direct and beneficial                      
Confirmation of clearance          : Clearance to deal was granted              
23 July 2004                                                                    
Johannesburg                                                                    
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
(Registration no: 1970/003711/07)                                               
Date: 23/07/2004 11:18:46 AM                 
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