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Thu 9 Sep 2004, 16:24 Dealing In Securities By Directors
Invicta Holdings Limited - Dealing In Securities By Directors                   
INVICTA HOLDINGS LIMITED                                                        
Incorporated in the Republic of South Africa                                    
(Registration number 1966/002182/06)                                            
Share code: IVT                                                                 
ISIN code: ZAE000029773                                                         
(`Invicta`)                                                                     
DEALING IN SECURITIES BY DIRECTORS                                              
In terms of paragraph 3.63 - 3.74 of the JSE Securities Exchange South Africa   
Listings Requirements, the following information, relating to dealing in        
securities by directors is disclosed.                                           
Non-executive director:            Dr CH Wiese                                  
Director of:                       Invicta                                      
Transaction date:                  2 August 2004                                
Number of shares sold:             1 766 @ R10.40                               
128 234 @ R10.20                             
Total value:                       R1 326 353                                   
Share class:                       Ordinary shares                              
Nature of transaction:             Sale of shares on the open market            
Extent of interest:                Indirect beneficial                          
Clearance to deal obtained:        Yes                                          
Executive director:                Mr A Goldstone                               
Director of:                       Invicta                                      
Transaction date:                  2 August 2004                                
Number of shares purchased:        68 934                                       
Price:                             R10.20                                       
Total value:                       R703 127                                     
Share class:                       Ordinary shares                              
Nature of transaction:             Purchase of shares on the open               
                                   market                                       
Extent of interest:                Indirect beneficial                          
Clearance to deal obtained:        Yes                                          
Non-executive director:            Mr RE Sherrell                               
Director of:                       A major subsidiary of Invicta                
Transaction date:                  2 August 2004                                
Number of shares purchased:        50 000                                       
Price:                             R10.20                                       
Total value:                       R510 000                                     
Share class:                       Ordinary shares                              
Nature of transaction:             Purchase of shares on the open               
                                   market                                       
Extent of interest:                Direct beneficial                            
Clearance to deal obtained:        Yes                                          
Johannesburg                                                                    
9 September 2004                                                                
Investment bank & Sponsor                                                       
Nedbank Capital
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