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Spectrum - Issue of shares and withdrawal of cautionary announcement            
Spectrum Shipping Limited                                                       
(`Spectrum` or `the Company`)                                                   
Registration number: 1998/018118/06                                             
Share code: SUM                                                                 
ISIN: ZAE000037446                                                              
ISSUE OF SHARES AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT                       
River Group is authorised to announce that the board of directors of Spectrum   
and the JSE have approved the issue of 50 million shares to the company`s share 
incentive trust with effective date 22 August 2005.                             
The company also herewith withdraws the cautionary announcement.                
Pretoria                                                                        
22 August 2005                                                                  
Sponsor: River Group                                                            
Date: 22/08/2005 04:44:02 PM                 
Produced by the JSE SENS Department                                             
                                                                                

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