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Spectrum Shipping Limited - Dealing In Securities By Directors                  
Spectrum Shipping Limited                                                       
Registration number: 1998/018118/06                                             
Share code: SUM                                                                 
ISIN: ZAE000037446                                                              
DEALING IN SECURITIES BY DIRECTORS OF LISTED COMPANY                            
(In compliance with paragraph 3.63 of the Listings Requirements of the JSE      
Securities Exchange South Africa)                                               
Director:                     S. Donner                                         
Name of company:              Spectrum Shipping Limited                         
Date:                         28 April                                          
Price and number of shares:   1 000 000 at a purchase price of 4cents per share;
                              and                                               
                              200 000 at a purchase price of 5cents per share   
Number of shares:             1 200 000                                         
Class:                        Ordinary shares                                   
Nature:                       Purchase                                          
Total consideration:          R50 000                                           
Extent of Director`s                                                            
Interest:                     Indirect and non-beneficial.                      
Clearance to deal received in terms of paragraph 3.66: Obtained.                
Johannesburg                                                                    
28 April 2005                                                                   
Sponsor: River Group

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