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Wed 8 Oct 2003, 14:27 DEALING IN SECURITIES BY DIRECTOR
SPECTRUM SHIPPING LIMITED - DEALING IN SECURITIES BY DIRECTOR                   
  Spectrum Shipping Limited                                                       
  (Registration number 1998/018118/06)                                            
  (Share code: SUM    ISIN: ZAE000037446)                                         
  DEALING IN SECURITIES BY DIRECTOR                                               
  In compliance with Rule 3.63 to 3.74 of the JSE Securities Exchange SA Listings 
  Requirements, the following should be noted:                                    
  Name of director       :  Glen Gerber                                           
  Date of transaction    :  3 October 2003                                        
  Number of shares       :  5 800                                                 
  Class of security      :  Ordinary shares                                       
  Price                  :  9 cents per share                                     
  Nature of transaction  :  Sale                                                  
  Extent of interest     :  Beneficial                                            
  Date: 08/10/2003 02:20:34 PM Produced by the JSE SENS Department                
                                                                                  
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