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Tue 24 Feb 2004, 16:16 Dealing in securities by a director
Spanjaard Limited - Dealing in securities by a director                         
  Spanjaard Limited                                                               
  (Incorporated in the Republic of South Africa)                                  
  Registration number 1960/004393/06                                              
  Share Code: SPA   ISIN: ZAE000006938                                            
  ("the company")                                                                 
  Dealing in securities by a director                                             
  In compliance with paragraph 3.63 to 3.74 of the JSE Securities Exchange South  
  Africa Listing Requirements, the following information is disclosed:            
  Director:                   RJW Spanjaard                                       
  Date of transaction:        24 February 2004                                    
  Price per share:            R1.30                                               
  Number of shares:           171 090                                             
  Total value:                R222 417                                            
  Class of securities:        Ordinary shares                                     
  Nature of transaction:      Purchase                                            
  Extent of interest:         Direct and beneficial                               
  Confirmation of clearance:  Confirmed                                           
  24 February 2004                                                                
  Johannesburg                                                                    
  Sponsor                                                                         
  PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
  (Registration no: 1970/003711/07)                                               
  Date: 24/02/2004 04:11:21 PM Produced by the JSE SENS Department
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