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Fri 4 Feb 2005, 16:06 DIRECTORS" DEALINGS IN ISPAT ISCOR SECURITIES
ISPAT ISCOR LIMITED - DIRECTORS` DEALINGS IN ISPAT ISCOR SECURITIES             
Ispat Iscor Limited                                                             
(Formerly 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 - 3.74 of the Listings Requirements of the JSE
Securities Exchange, South Africa, we hereby advise that, the following director
has accepted the offer of options granted to him on 23 July, 2004 in Ispat Iscor
securities:                                                                     
Name of director                        Juba Mashaba                            
Director:                               Executive director                      
Name of company:                        Ispat Iscor Limited                     
Date of acceptance:                     3 February 2005                         
Number of securities:                   140 070                                 
Price of securities:                    R37.25                                  
Total value of securities:              R5,217,607-50                           
Class of securities:                    Options on ordinary shares              
Nature of transaction:                  Acceptance of the offer of options      
                                        granted on 23 July 2004 as per the      
appointment letter                      
Interest:                               Indirect beneficial                     
Clearance received:                     Yes, on release of the securities in    
                                        terms of the rules of the management    
share incentive scheme                  
Vanderbijlpark                                                                  
4 February 2005                                                                 
Sponsor to Ispat Iscor:                                                         
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 04/02/2005 04:04:44 PM                  
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