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MARRIOTT PROPERTY FUND
  (Incorporated in the Republic of South Africa)
  ("Martprop" or "the Fund")
Cautionary announcement
Martprop unitholders are advised that the Fund is involved in negotiations
regarding the acquisition of certain properties which, if successfully
concluded, may have an effect on the price of Martprop units.
Accordingly, unitholders are advised to exercise caution when dealing in
Martprop units until a further announcement is made.
Durban
12 February 2001
Merchant bank
  Marriott Merchant Bank

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