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Thu 4 Nov 2004, 12:34 DEALINGS IN SECURITIES
PICK `N PAY HOLDINGS LTD - DEALINGS IN SECURITIES                               
Pick `n Pay Holdings Ltd                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1981/009610/06)                                            
Share code:  PWK   ISIN: ZAE000005724                                           
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, the       
following information is disclosed:                                             
The following executives have been granted share options over ordinary shares.  
The options have been exercised, and may be paid for and taken up immediately.  
Subsidiary company director   :    Sean Summers                                 
Number of shares              :    400                                          
Price per share               :    R8.30                                        
Date of transaction           :    4 November 2004                              
Class of shares               :    Ordinary                                     
Nature of interest            :    Direct beneficial                            
Clearance                     :    Clearance has been obtained from executive   
                                   director                                     
Subsidiary company director   :    David Robins                                 
Number of shares              :    400                                          
Price per share               :    R8.30                                        
Date of transaction           :    4 November 2004                              
Class of shares               :    Ordinary                                     
Nature of interest            :    Direct beneficial                            
Clearance                     :    Clearance has ben obtained from executive    
                                   director                                     
The options have been granted in line with our employee service share option    
scheme, which is available to all employees after the completion of each        
successive 5 years of service.
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