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Wed 7 Apr 2004, 16:35 Dealing in Securities by Directors
Sanlam Limited - Dealing in Securities by Directors                             
  SANLAM GROUP                                                                    
  Incorporated in the Republic of South Africa                                    
  Registered name: Sanlam Limited                                                 
  (Registration number 1959/001562/06)                                            
  JSE share code: SLM                                                             
  NSX share code: SLA                                                             
  ISIN number: ZAE000028262                                                       
  ("Sanlam")                                                                      
  In Compliance with Rule 3.63 to 3.74 of the JSE Securities Exchange SA Listings 
  Requirements, the following should be noted:                                    
  Name of Director:                       N.T. Christodoulou (Alternate Executive 
                                          Director)                               
  The class of securities                                                         
  (shares, options, etc.):                Ordinary shares (Option scheme)         
  The option scheme period:               Seven years                             
  The option scheme expiry date:          30 April 2004 and 1 January 2006        
  The original purchase price:            R6.00                                   
  The date on which the                                                           
  transaction was effected:               2 April 2004                            
  The nature of the transaction                                                   
  (buy, sell, etc.):                      Sell                                    
  Total number of units:                  458 772                                 
  Transaction price:                      R9,30                                   
  Total amount involved:                  R4 266 579,60                           
  Pre-clearance obtained:                 Yes                                     
  The nature and the extent                                                       
  of the directors" interest in                                                   
  the transaction (personal transaction,                                          
  transaction by beneficial trust, etc.) :Transaction by beneficial trust         
  Date: 07/04/2004 04:29:03 PM Produced by the JSE SENS Department
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