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Tue 5 Oct 2004, 8:08 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                                           
DEALING IN SECURITIES BY DIRECTORS                                              
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 2004 and 26 June 2004            
Periods of vesting                 :    5 years and 3 years                     
Date of transaction                :    04 October 2004                         
Number of shares                   :    441 892                                 
Price per share                    :    228.00cps                               
Class of shares                    :    Ordinary                                
Nature of interest                 :    Direct beneficial                       
Value of transaction               :    R1 007 513.76                           
Clearance in terms of paragraph 3.66 has been given by the nominated director.  
5 October 2004                                                                  
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