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Fri 3 Sep 2004, 17:11 SUBSIDIARY DIRECTOR"S DEALING
MASSMART - NOTIFICATION OF SUBSIDIARY DIRECTOR`S DEALING IN MASSMART HOLDINGS   
           LIMITED SECURITIES                                                   
MASSMART HOLDINGS LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1940/014066/06)                                            
(Share code:MSM))                                                               
(ISIN: ZAE000029534)                                                            
(`Massmart`)                                                                    
NOTIFICATION OF SUBSIDIARY DIRECTOR`S DEALING IN MASSMART HOLDINGS LIMITED      
SECURITIES                                                                      
In compliance with rule 3.63 to 3.74 of the JSE Listings Requirements, the      
following dealings in the securities of Massmart have taken place by a director 
of a subsidiary company:                                                        
Director:                     D Kalan                                           
Number of securities:         69,500                                            
Class of security:            Ordinary                                          
Nature of interest:           Direct, beneficial                                
Nature of transaction:        Sale                                              
Date:                         2 September 2004                                  
Price:                        R35.7065 per share                                
Shareholding:                 The shares sold represent 25.4% Mr Kalan`s        
                              Massmart shares, or options to buy shares, held in
                              terms of the rules of the Massmart Holdings       
Limited Employee Share Trust`.                    
The required clearance per section 3.66 of the Listings Requirements was        
obtained.                                                                       
3 September 2004                                                                
Johannesburg                                                                    
Sponsor to Massmart:                                                            
Deutsche Securities (SA) (Proprietary) Limited
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