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Wed 8 Dec 2004, 17:33 DEALING IN SECURITIES
CADIZ HOLDINGS LIMITED - DEALING IN SECURITIES OF CADIZ HOLDINGS LIMITED        
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:                Robbie Gonsalves                                       
Office held:             Director of major subsidiary of Cadiz Holdings Limited 
Company:                 Cadiz Special Projects Limited                         
Nature of transaction:   Take up and purchase of shares pursuant to the vesting 
and exercising of options   already granted and        
                         accepted in Cadiz and subsequent disposal to settle a  
                         portion of the debt arising on the exercise of options 
Option strike price:     88 cps                                                 
Date of exercise:        08 December 2004                                       
Number of options:       350 130                                                
Vesting date:            1 November 2002                                        
Period of vesting:       4 years                                                
Value of transaction:    R308 114.40                                            
Number of shares sold:   100 800                                                
Price per share:         300 cps                                                
Value of transaction:    R302 400.00                                            
Class of shares:         Ordinary                                               
Nature of interest:      Direct beneficial                                      
Clearance in terms of paragraph 3.66 has been given by designated person        
8 December 2004                                                                 
Sponsor: Investec Bank Limited
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