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Tue 9 Jul 2002, 0:00 Spectrum Shipping - Cautionary Announcement
SPECTRUM SHIPPING - CAUTIONARY ANNOUNCEMENT                                     
Spectrum Shipping                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/018118/06)                                            
Share code: SUM                                                                 
ISIN code : ZAE000037446                                                        
("Spectrum Shipping" or "the company")                                          
Cautionary announcement                                                         
Shareholders are advised that the company has entered into negotiations, which  
if successfully concluded, may have a material effect on the price at which the 
company`s shares trade on the JSE Securities Exchange South Africa.             
Shareholders are accordingly advised to exercise caution in dealing in their    
Spectrum Shipping shares until a further announcement in this regard is made.   
Mount Edgecombe                                                                 
10 July 2002                                                                    
Corporate adviser                                                               
Radagast Capital (Pty) Ltd                                                      
(Registration number 2000/030942/07)                                            
Sponsor                                                                         
LPC Manhattan Sponsors (Pty) Ltd                                                
(Registration number 1999/024792/07)                                            
Date: 09/07/2002 12:46:00 PM Produced by the JSE SENS Department
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