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Wed 2 Jun 2004, 8:04 DIRECTOR DEALINGS IN SHARES
SPECTRUM SHIPPING LIMITED - DIRECTOR DEALINGS IN SHARES                         
  Spectrum Shipping Limited                                                       
     (Incorporated in the Republic of South Africa)                               
  (Registration number 1998/018118/06)                                         
     Share code: SUM   ISIN: ZAE000037446                                         
     (`Spectrum` or `the company`)                                                
  DIRECTOR DEALINGS IN SHARES                                                     
  In accordance with the requirements of paragraphs 3.63 to 3.74 of the Listings  
  Requirements of the JSE Securities Exchange South Africa, the following should  
  be noted:                                                                       
  Director:                                Tadeusz Tomaszewski                    
  Date/s of transaction/s:                 26 May 2004                            
  Price:                                   5 cents per share                      
  Number of securities:                    20 000                                 
  Total value:                             R1,000.00                              
  Class of security:                       Ordinary shares                        
  Nature of transaction:                   Purchase                               
  Nature and extent of interest:           Indirectly Beneficial                  
  Clearance given in terms                                                        
  of paragraph 3.66                        Yes                                    
  2 June 2004                                                                     
  Date: 02/06/2004 07:40:23 AM Produced by the JSE SENS Department
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