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Fri 31 Dec 2004, 8:58 DEALING IN SECURITIES BY A DIRECTOR
AVASA HOLDINGS LIMITED - DEALING IN SECURITIES BY A DIRECTOR                    
AVASA HOLDINGS LIMITED                                                          
Incorporated in the Republic of South Africa)                                   
(Registration number 1998/013637/06)                                            
Share code: AVA       ISIN ZAE 000040622                                        
(`AVASA`)                                                                       
DEALING IN SECURITIES BY A DIRECTOR                                             
In accordance with the requirements of paragraph 3.63 to 3.65 of the JSE        
Securities Exchange South Africa Listing Requirements, the following information
is provided:                                                                    
Name of director:       Andrew Bonamour                                         
Date of transaction:    29 December 2004                                        
Number of securities:   200 000                                                 
Class of securities:    Letters of allocation                                   
Issue price of shares:  6 cents                                                 
Value:                  R12 000                                                 
Nature:                 Acquisition of letters of allocation                    
Interest:               Non beneficial                                          
Clearance to deal was received in terms of paragraph 3.66 of the JSE Listings   
Requirements.                                                                   
31 December 2004                                                                
Rosebank                                                                        
Date: 31/12/2004 08:42:38 AM                
Produced by the JSE SENS Department                                             
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