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Fri 12 Nov 2004, 14:45 TRADING STATEMENT
SPESCOM LIMITED - TRADING STATEMENT                                             
SPESCOM LIMITED                                                                 
(Incorporated in the Republic of South Africa)                                  
(Reg. No:  1987/001083/06)                                                      
Share Code:  SPS   ISIN:  ZAE000017919                                          
(`Spescom`)                                                                     
Trading Statement                                                               
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Securities 
Exchange South Africa (`the JSE Listings Requirements`) a listed company is     
required to publish a trading statement as soon as it is satisfied that a       
reasonable degree of certainty exists that the financial results for the period 
to be reported upon next will differ by at least 20% from those of the previous 
corresponding period.                                                           
Spescom is expecting an increase of between 60% and 80% in earnings per share   
and between 10% and 20% in headline earnings per share for the year ended 30    
September 2004 compared to that of the previous year, as a result of improved   
trading conditions.                                                             
This trading statement has not been reviewed or reported on by Spescom`s        
external auditors.  The release of the final announcement of results for the    
year ended 30 September 2004 is expected to be published on or about 18 November
2004.                                                                           
By order of the board                                                           
Midrand                                                                         
11 November 2004                                                                
Sponsor:                                                                        
Investec Bank Limited
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