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Tue 23 May 2006, 13:32 Infowave Holdings Limited - Directors Dealings in
IFW
 IFW                                                                             
Infowave Holdings Limited - Directors" Dealings in Securities                   
INFOWAVE HOLDINGS LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/017276/06)                                            
("InfoWave" or "the Company")                                                   
Share Code: IFW   ISIN Number: ZAE000016440                                     
DIRECTORS" DEALINGS IN SECURITIES                                               
In compliance with the requirements of rule 3.63 of JSE Limited ("JSE") Listings
Requirements, the following options were exercised:                             
Name of Director:                  C Jessop                                     
Designation:                       Executive Director of Infowave               
Number of options exercised:       54 600                                       
Price:                             24.5 cents per share                         
Value:                             R13 377                                      
Allotment date:                    22 May 2006                                  
Nature:                            Exercise of share options                    
Exercise price:                    60 cps                                       
Class of shares:                   Ordinary                                     
Interest:                          Direct Beneficial                            
Name of Director:                  C von Pannier                                
Designation:                       Executive Director of Infowave               
Number of options exercised:       17 000                                       
Price:                             24.5 cents per share                         
Value:                             R4 165                                       
Allotment Date:                    22 May 2006                                  
Nature:                            Exercise of share options                    
Exercise Price:                    65 cps                                       
Class of shares:                   Ordinary                                     
Interest:                          Direct Beneficial                            
Name of Director:                  C von Pannier                                
Designation:                       Executive Director of Infowave               
Number of options exercised:       36 893                                       
Price:                             16.1 cents per share                         
Value:                             R5 939.77                                    
Allotment Date:                    22 May 2006                                  
Nature:                            Exercise of share options                    
Exercise Price:                    65 cps                                       
Class of shares:                   Ordinary                                     
Interest:                          Direct Beneficial                            
Name of Director:                  B Lionnet                                    
Designation:                       Executive Director of Infowave               
Number of options exercised:       41 189 (deferred share options - already     
                                   declared)                                    
Price:                             16.1 cents per share                         
Value:                             R6 631.437                                   
Allotment date:                    22 May 2006                                  
Nature:                            Exercise of share options                    
Exercise Price:                    15 cps                                       
Class of shares:                   Ordinary                                     
Interest:                          Direct Beneficial                            
Name of Director:                  B Lionnet                                    
Designation:                       Executive Director of Infowave               
Number of options exercised:       20 000                                       
Price:                             24.5 cents per share                         
Value:                             R4 900                                       
Allotment Date:                    22 May 2006                                  
Nature:                            Exercise of share options                    
Exercise Price:                    65 cps                                       
Class of shares:                   Ordinary                                     
Interest:                          Direct Beneficial                            
Name of Director:                  N Jack                                       
Designation:                       Company Secretary                            
Number of options exercised:       12 000                                       
Price:                             24.5 cents per share                         
Value:                             R2 940                                       
Allotment Date:                    22 May 2006                                  
Nature:                            Exercise of share options                    
Exercise Price:                    60 cps                                       
Class of shares:                   Ordinary                                     
Interest:                          Direct Beneficial                            
Name of Director:                  N Jack                                       
Designation:                       Company Secretary                            
Number of options exercised:       22 894                                       
Price:                             16.1 cents per share                         
Value:                             R3 685.93                                    
Allotment Date:                    22 May 2006                                  
Nature:                            Exercise of share options                    
Exercise Price:                    60 cps                                       
Class of shares:                   Ordinary                                     
Interest:                          Direct Beneficial                            
Name of Director:                  T Dunsdon                                    
Designation:                       CEO of Infowave                              
Number of options exercised:       18 000                                       
Price:                             24.5 cents per share                         
Value:                             R4 410                                       
Allotment Date:                    22 May 2006                                  
Nature:                            Exercise of share options                    
Exercise Price:                    60 cps                                       
Class of shares:                   Ordinary                                     
Interest:                          Direct Beneficial                            
Name of Director:                  T Dunsdon                                    
Designation:                       CEO of Infowave                              
Number of options exercised:       40 755                                       
Price:                             16.1 cents per share                         
Value:                             R6 561.55                                    
Allotment Date:                    22 May 2006                                  
Nature:                            Exercise of deferred share options previous  
                                   declared                                     
Exercise Price:                    23 cps                                       
Class of shares:                   Ordinary                                     
Interest:                          Direct Beneficial                            
Clearance to deal was obtained in accordance with Section 3.66 of the Listings  
Requirements of the JSE.                                                        
Durban                                                                          
23 May 2006                                                                     
Sponsor                                                                         
Sasfin Capital                                                                  
A division of Sasfin Bank Limited                                               
Date: 23/05/2006 01:32:51 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
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