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SANTAM LIMITED - DIRECTORS DEALINGS                                             
Santam Limited                                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1918/001680/06                                            
(Share Code:SNT                                                                 
ISIN: ZAE000006854                                                              
("Santam")                                                                      
DIRECTORS DEALINGS                                                              
In compliance with Rules 3.63 - 3.74 of the JSE Listings Requirements, the      
following information is disclosed:                                             
Non-executive director:       J E Newbury                                       
Number of Securities:         3 000                                             
Nature of Interest:           Indirect beneficial                               
Nature of Transaction:        Purchase                                          
Date:                         26 November 2003                                  
Price:                        4125 cents per share                              
Class of Security:            Ordinary Shares                                   
Date: 01/12/2003 11:18:02 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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