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Thu 14 Feb 2008, 15:18 PAP / IFR - Pangbourne/ ifour - Joint cautionary announcement
IFR   PAP
 IFR   PAP                                                                       
PAP / IFR - Pangbourne/ ifour - Joint cautionary announcement                   
Pangbourne Properties Limited                                                   
(Registration number 1987/002352/06)                                            
Share Code: PAP                                                                 
ISIN: ZAE000005252                                                              
("Pangbourne")                                                                  
iFOUR PROPERTIES LIMITED                                                        
Incorporated in the Republic of South Africa                                    
(Registration number 2001/016118/06)                                            
Share code: IFR                                                                 
ISIN: ZAE000039236                                                              
("iFour")                                                                       
JOINT CAUTIONARY ANNOUNCEMENT                                                   
Pangbourne unitholders and iFour unitholders are advised that Pangbourne may be 
interested in acquiring all iFour combined units in issue. If Pangbourne`s      
interest results in a firm intention to make an offer to iFour unitholders, a   
further announcement will be made in this regard.  In the meantime, Pangbourne  
and iFour unitholders are advised to exercise caution in dealing in these       
companies` securities.                                                          
14 February 2008                                                                
Sponsor to Pangbourne                                                           
Java Capital (Proprietary) Limited                                              
Sponsor to iFour                                                                
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited                  
Date: 14/02/2008 15:18:01 Produced by the JSE SENS Department.                  
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