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Tue 2 Mar 2004, 13:37 DEALINGS IN SECURITIES
INSURANCE OUTSOURCING MANAGERS HOLDINGS LIMITED - DEALINGS IN                   
  SECURITIES BY DIRECTORS                                                         
  INSURANCE OUTSOURCING MANAGERS HOLDINGS LIMITED                                 
  (Incorporated in the Republic of South Africa)                                 
  (Registration number 1998/013121/06)                                            
  ("INSURE" or "the company")                                                     
  JSE Code:   INS          ISIN Code:   ZAE000033221                              
  DEALINGS IN SECURITIES BY DIRECTORS                                             
  In compliance with paragraphs 3.63 to 3.74 of the Listings                      
  Requirements of the JSE Securities Exchange South Africa, the                   
  following information is disclosed:                                             
  Inshare (Proprietary) Limited, the controlling shareholder of                   
  Insure held by directors and subsidiary directors of Insure, sold               
  600 000 shares at 31 cents on 27 February 2004.  The shares were                
  sold in order to improve liquidity of the company"s securities.                 
  The effects on directors" interest of the above sale are as                     
  follows:                                                                        
  Name of director:                  DM Burns                                     
  Date of transaction:                    27 February 2004                        
  Number of shares:                  210 180                                      
  Class of securities:                    Ordinary shares                         
  Nature of transaction:             Sale                                         
  Price per share:                   31 cents                                     
  Extent of change in director"s                                                  
  interest:                          Beneficial Indirect (0,19%)                  
  Name of director:                  CJP Cilliers                                 
  Date of transaction:                    27 February 2004                        
  Number of shares:                  210 180                                      
  Class of securities:                    Ordinary shares                         
  Nature of transaction:             Sale                                         
  Price per share:                   31 cents                                     
  Extent of change in director"s                                                  
  interest:                          Beneficial Indirect (0,19%)                  
  Name of director:                  J Vogelzang (Subsidiary                      
                                     director)                                    
  Date of transaction:                    27 February 2004                        
  Number of shares:                  103 620                                      
  Class of securities:                    Ordinary shares                         
  Nature of transaction:             Sale                                         
  Price per share:                   31 cents                                     
  Extent of change in director"s                                                  
  interest:                          Beneficial Indirect (0,09%)                  
  Name of director:                   SJ Steyn (Subsidiary director)              
  Date of transaction:                     27 February 2004                       
  Number of shares:                   51 840                                      
  Class of securities:                     Ordinary shares                        
  Nature of transaction:              Sale                                        
  Price per share:                    31 cents                                    
  Extent of change in director"s                                                  
  interest:                           Beneficial Indirect (0,05%)                 
  Clearance for the share purchase was obtained in compliance with                
  paragraph 3.66 of the JSE Listings Requirements.                                
  Johannesburg                                                                    
  1 March 2004                                                                    
  Sponsor                                                                         
  Arcay Group Limited                                                             
  Date: 02/03/2004 12:16:10 PM Produced by the JSE SENS Department                
                                                                                  
                                                                    
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