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Tue 23 Nov 2004, 17:48 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:                Thabo Tembo                                            
Office held:             Director of major subsidiary of Cadiz Holdings Limited 
Company:                 Cadiz Financial Strategists (Proprietary) Limited      
Nature of transaction:   Exercise of options and subsequent sale of shares      
Option strike price:     88.00cps                                               
Vesting date:            1 November 2003 and 1 November 2004                    
Periods of vesting:      3 and 4 years                                          
Date of transaction:     23 November 2004                                       
Number of shares:        210 000                                                
Price per share:         310.17cps                                              
Class of shares:         Ordinary                                               
Nature of interest:      Direct beneficial                                      
Value of transaction:    R651 357.00                                            
Clearance in terms of paragraph 3.66 has been given by the nominated director.  
23 November 2004                                                                
Sponsor: Investec Bank Limited                                                  
Date: 23/11/2004 04:45:03 PM                    
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