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Mon 2 Apr 2007, 15:42 MDN - Madison - Directors` dealings in securities
MDN
 MDN                                                                             
MDN - Madison - Directors` dealings in securities                               
Madison Property Fund Managers Holdings Limited                                 
Registration number 2003/021772/06                                              
Madison Property Fund Managers Limited                                          
Registration number 2005/021874/06                                              
("Madison" or "the group")                                                      
Share Code: MDN & ISIN Code: ZAE000080560                                       
DIRECTORS` DEALINGS IN SECURITIES                                               
In compliance with sections 3.63 to 3.65 of the Listings Requirements of        
the JSE Limited ("JSE"), the following information is disclosed:                
                                                                                
Name of director:                  Michael Flax                                 
Date of transaction:               29 March 2007                                
Number of securities:              19,900                                       
Price per security:                R8.35                                        
Total value:                       R 166,165.00                                 
Class of securities:               Linked units                                 
Nature of transaction:             Sale of linked units to fund                 
                                  liability for taxation arising from           
receipt of Madison linked units as a          
                                  sign-on bonus                                 
Nature and extent of director`s    Indirect beneficial                          
interest:                                                                       

Name of director:                  Michael Flax                                 
Date of transaction:               30 March 2007                                
Number of securities:              980,100                                      
Price per security:                R8.32                                        
Total value:                       R 8,154,432.00                               
Class of securities:               Linked units                                 
Nature of transaction              Sale of linked units to fund                 
liability for taxation arising from           
                                  receipt of Madison linked units as a          
                                  sign-on bonus                                 
Nature and extent of director`s    Indirect beneficial                          
interest:                                                                       
                                                                                
Clearance to deal was received in terms of paragraph 3.66 of the JSE            
Listings Requirements.                                                          
Rosebank                                                                        
2 April 2007                                                                    
Sponsor                                                                         
Java Capital (Proprietary) Limited                                              
Date: 02/04/2007 15:42:00 Produced by the JSE SENS Department.                  
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