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Tue 5 Oct 2004, 14:07 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:                      26 June 2004                                 
Periods of vesting:                3 years                                      
Date of transaction:               05 October 2004                              
Number of shares:                  20 841                                       
Price per share:                   228.00cps                                    
Class of shares:                   Ordinary                                     
Nature of interest:                Direct beneficial                            
Value of transaction:              R47 517.48                                   
Clearance in terms of paragraph 3.66 has been given by the nominated director.  
5 October 2004                                                                  
Sponsor: Investec Bank Limited
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