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Tue 14 Sep 2004, 10:02 DEALINGS IN ISPAT ISCOR SECURITIES
ISPAT ISCOR LIMITED - DIRECTORS` DEALINGS IN ISPAT ISCOR SECURITIES             
Ispat Iscor Limited                                                             
Formerly known as Iscor Limited                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1989/002164/06)                                            
(Share code: IIS)                                                               
(ISIN: ZAE000057162)                                                            
(`Ispat Iscor`)                                                                 
Directors` dealings in Ispat Iscor securities                                   
In compliance with paragraph 3.63 of the Listings Requirements of the JSE       
Securities Exchange, South Africa, we hereby advise the following dealings by an
Ispat Iscor director in Ispat Iscor securities:                                 
Name of director                      Louis Lourens van Niekerk                 
Category                              Chief executive officer                   
                                      non-executive director and deputy chairman
Name of company                       Ispat Iscor Limited                       
Date of transactions                  13 September 2004                         
1  Number of securities               88,430                                    
   Price of securities                R18-15                                    
Total value of securities          R1,605,004-50                             
   Class of securities                Options on ordinary shares                
   Nature of transaction              Exercise of options                       
   Interest (ie direct/indirect etc)  Indirect beneficial                       
2    Total number of securities       88,430                                    
   Price of securities:                                                         
                                      28 430 @ R45-35                           
                                      10 000 @ R45-30                           
30 000 @ R46-15                           
                                      10 000 @ R46-50                           
                                      10 000 @ R47-50                           
   Total value of securities          R4,059,300-50                             
Class of securities                Ordinary shares                           
   Nature of transaction              Sale                                      
   Interest (ie direct/indirect etc)  Indirect beneficial                       
   Clearance to trade received        Yes                                       
Pretoria                                                                        
14 September 2004                                                               
Sponsor to Ispat Iscor:                                                         
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 14/09/2004 09:51:33 AM                 
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