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Tue 21 Oct 2003, 15:21 SHAREDEALINGS BY A DIRECTOR
SPECTRUM SHIPPING LIMITED - SHAREDEALINGS BY A DIRECTOR                         
Spectrum Shipping Limited                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration No: 1998/018118/06)                                               
Share code: SUM ISIN: ZAE000037466                                              
("Spectrum" or "the company")                                                   
Sharedealings by a  director                                                    
In compliance with paragraph 3.63 (a) and (b) of the Listings Requirements of   
the JSE Securities Exchange South Africa, Spectrum advises that the following   
dealing by a director, in the share capital of the company, took place:         
Director:                          Glen Henry Gerber                            
Position:                          Chief Executive Officer                      
Date of transaction:               21 October 2003                              
Price:                             9 cents per share                            
Number of shares:                  60 000                                       
Class of security:                 Ordinary shares                              
Nature of transaction:             Purchase                                     
Extent of interest                 Direct, beneficial                           
Durban                                                                          
21 October 2003                                                                 
Sponsor                                                                         
LPC Manhattan Sponsors                                                          
Date: 21/10/2003 03:12:41 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department
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