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Spectrum - Resignation of director                                              
Spectrum Shipping Limited                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration No: 1998/018118/06)                                               
Share code: SUM ISIN: ZAE000037466                                              
("Spectrum")                                                                    
Resignation of director                                                         
In compliance with paragraph 3.59 of the Listings Requirements of the JSE       
Securities Exchange South Africa, Spectrum advises that Mr Alastair Nairn has   
resigned as a non-executive director, due to the requirements of his ongoing    
business commitments, with effect from 17 September 2003.                       
Durban                                                                          
21 October 2003                                                                 
Sponsor                                                                         
LPC Manhattan Sponsors                                                          
Date: 21/10/2003 01:08:50 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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