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Thu 30 Sep 2004, 9:27 DEALING IN SECURITIES BY DIRECTORS
CADIZ HOLDINGS LIMITED - DEALING IN SECURITIES BY DIRECTORS                     
  Cadiz Holdings Limited                                                          
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1997/007258/06)                                            
  Share code:  CDZ   ISIN: ZAE000017661                                           
  In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, the       
  following information is disclosed:                                             
  Director              :    Evan Jones                                           
  Office held           :    Director of major subsidiary of Cadiz Holdings       
                             Limited                                              
  Company               :    Cadiz Asset Management (Proprietary) Limited         
  Nature of transaction :    Exercise of options and subsequent sale of shares    
  Option strike price   :    88.00cps                                             
  Vesting date          :    1 July 2002 and 1 July 2003                          
  Periods of vesting    :    4 years and 5 years                                  
  Date of transaction   :    29 September 2004                                    
  Number of shares      :    96 262                                               
  Price per share       :    228.00cps                                            
  Class of shares       :    Ordinary                                             
  Nature of interest    :    Direct beneficial                                    
  Value of transaction  :    R219 477.36                                          
  Clearance in terms of paragraph 3.66 has been given by the nominated director.  
  30 September 2004                                                               
  Sponsor: Investec Bank Limited                                                  
  Date: 30/09/2004 08:36:26 AM Produced by the JSE SENS Department                
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