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Spectrum Shipping                                                               
  (Incorporated in the Republic of South Africa)                                
(Registration number 1998/018118/06)                                          
  Share code SUM   ISIN ZAE000037446                                            
  ("Spectrum Shipping")                                                         
Further cautionary announcement                                                 
Shareholders are advised that the negotiations, referred to in the              
cautionary announcement published on 10 July 2002, are continuing.              
Shareholders are accordingly advised to continue to exercise caution in         
dealing in their Spectrum Shipping shares until a further announcement          
in this regard is made.                                                         
Mount Edgecombe                                                                 
21 August 2002                                                                  
Corporate adviser                                                               
Radagast Capital (Pty) Ltd                                                    
  (Registration number 2000/030942/07)                                          
Sponsor                                                                         
  LPC Manhattan Sponsors (Pty) Ltd.                                             
(Registration number 1999/024792/07)                                          
Date: 20/08/2002 05:14:00 PM Produced by the JSE SENS Department                

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