SANLAM LIMITED - NOTICE OF DIRECTOR"S DEALINGS IN SHARES

SANLAM LIMITED - NOTICE OF DIRECTOR"S DEALINGS IN SHARES                        
SANLAM LIMITED                                                                  
(Registration number 1959/001562/06)                                            
JSE share code: SLM                                                             
ISIN number: ZAE000028262                                                       
NOTICE OF DIRECTOR"S DEALINGS IN SHARES                                         
In accordance with the requirements of paragraphs 3.63 to 3.74 of the JSE       
Securities Exchange South Africa Listings Requirements, the following share     
transactions by a director of Sanlam Limited should be noted:                   
Director:                     J P Bester (Company Secretary)                    
Class of securities:          Ordinary shares (option scheme)                   
Option scheme period:         Five years                                        
Option scheme expiry date:    1 October 2003                                    
Original purchase price:      R6.00                                             
Date of transaction:          9 September 2003                                  
Nature of transaction:        Sale                                              
Total number of units:        2 872                                             
Selling price:                R7.72                                             
Total amount:                 R22 171.84                                        
Nature and the extent of director"s interest in the transaction: Direct         
beneficial                                                                      
Date: 11/09/2003 07:00:59 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department