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Thu 21 Oct 2004, 10:45 Dealings in securities by directors
Adcorp Holdings Limited - Dealings in securities by directors                   
Adcorp Holdings Limited                                                         
(Incorporated in the Republic of South Africa)                                  
(Registration number 1974/001804/06)                                            
Share code: ADR                                                                 
ISIN: ZAE000000139                                                              
Dealings in securities by directors                                             
In compliance with Rule 3.63 to 3.74 of the JSE Listings Requirements, the      
following information is noted:                                                 
Director                           :    FvZ Slabbert                            
Date of transaction                :    20 October 2004                         
Price per share                    :    R 17-00                                 
Number of shares                   :    150 000                                 
Total value                        :    R 2 550 000                             
Class                              :    Ordinary shares                         
Option strike price                :    R 12-00 for 120 000 shares              
                                        R 8-85 for 30 000 shares                
Nature of transaction              :    Exercise of option and sale of shares   
Extent of interest                 :    Full beneficiary                        
Clearance obtained                 :    Yes                                     
Director                           :    RB McGregor                             
Date of transaction                :    20 October 2004                         
Price per share                    :    R 17-00                                 
Number of shares                   :    30 000                                  
Total value                        :    R 510 000                               
Class                              :    Ordinary shares                         
Option strike price                :    R 8-85                                  
Nature of transaction              :    Exercise of option and sale of shares   
Extent of interest                 :    Full beneficiary                        
Clearance obtained                 :    Yes                                     
Director                           :    M Liphosa                               
Date of transaction                :    20 October 2004                         
Price per share                    :    R 17-00                                 
Number of shares                   :    15 800                                  
Total value                        :    R 268 600                               
Class                              :    Ordinary shares                         
Option strike price                :    R 8-85                                  
Nature of transaction              :    Exercise of option and sale of shares   
Extent of interest                 :    Full beneficiary                        
Clearance obtained                 :    Yes                                     
Melville                                                                        
21 October 2004
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