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IFR
 IFR                                                                             
IFR - iFour - Cautionary Announcement                                           
iFour Properties Limited                                                        
Incorporated in the Republic of South Africa)                                   
(Registration number 2001/016118/06)                                            
Share code: IFR                                                                 
ISIN: ZAE000039236                                                              
("iFour")                                                                       
CAUTIONARY ANNOUNCEMENT                                                         
Holders of iFour linked units ("unitholders") are advised that iFour has entered
into negotiations, which, if successfully concluded, may have a material effect 
on the price at which the securities of the company trade.                      
Accordingly, unitholders are advised to exercise caution when dealing in their  
iFour linked units until a further announcement is made.                        
Johannesburg                                                                    
25 June 2007                                                                    
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
(Registration no: 1970/003711/07)                                               
Date: 25/06/2007 14:26:01 Produced by the JSE SENS Department.

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