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Mon 5 Apr 2004, 15:23 DEALING IN SHARES BY A DIRECTOR
HIGHVELD: DEALING IN SHARES BY A DIRECTOR                                       
  HIGHVELD STEEL AND VANADIUM CORPORATION LIMITED                                 
  Registration no. 1960/001900/06                                                 
  (Incorporated in the Republic of South Africa)                                  
  ("Highveld")                                                                    
  Share code : HVL ISIN code : ZAE000003422                                       
  HIGHVELD:DEALING IN SHARES BY A DIRECTOR                                        
  In compliance with Rule 3.63 - 3.70 of the JSE Listings Requirements, the       
  following information is disclosed wherein a director, Mr E Barnado has sold a  
  portion of the shares which he took delivery of following the exercise of       
  options:                                                                        
  Transaction Date    :2 April 2004                                               
  Number of Shares    :6 000                                                      
  Class of security   :Ordinary Shares of 100 cents each                          
  Transaction Price   :2165 cents                                                 
  Total value         :29 900                                                     
  Extent of Interest  :Direct beneficial                                          
  Transaction Date    :5 April 2004                                               
  Number of Shares    :1 500                                                      
  Class of security   :Ordinary Shares of 100 cents each                          
  Transaction Price   :2200 cents                                                 
  Total value         :R33 000                                                    
  Extent of Interest  :Direct beneficial                                          
  In terms of Section 3.66 of the JSE Listings Requirements prior clearance to    
  deal in the above securities has been obtained from Mr TE Jones, Chairman of the
  Board of Highveld.                                                              
  Witbank                                                                         
  5 April 2004                                                                    
  Sponsor                                                                         
  CAZENOVE                                                                        
  Date: 05/04/2004 03:08:40 PM Produced by the JSE SENS Department
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