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Wed 15 Oct 2003, 11:40 DIRECTORS DEALINGS
SPEARHEAD PROPERTY HOLDINGS LIMITED - DIRECTORS DEALINGS                        
  SPEARHEAD PROPERTY HOLDINGS LIMITED                                             
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1996/05827/06)                                             
  Share code: SPE                                                                 
  ISIN: ZAE000019162                                                              
  DIRECTOR"S DEALINGS                                                             
  In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of the   
  JSE Securities Exchange South Africa, the following information is disclosed:   
    Name of      Date of     Number Class of     Price  Nature of   Extent of     
   director    transaction       of security       per     the      director"s    
  linked             linked transaction   interest     
                              units               unit                            
                                               (cents)                            
  Mr D Fabian   7 October     6 600  Linked       1270    Sale       Indirect     
  2003               units                          beneficial    
                8 October    16 692  Linked       1270    Sale       Indirect     
                  2003               units                          beneficial    
                9 October     4 708  Linked       1265    Sale       Indirect     
  2003               units                          beneficial    
  Johannesburg                                                                    
  15 October 2003                                                                 
  Sponsor:                                                                        
  Bridge Capital Services (Proprietary) Limited                                   
  Date: 15/10/2003 11:27:16 AM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  



 
 
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