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Mon 20 Jan 2003, 9:38 Acucap - Directors Dealings In Securities
ACUCAP PROPERTIES LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 2001/021725/06)                                            
Share code: ACP    ISIN ZAE000037651                                            
("Acucap")                                                                      
In Compliance with section 3.72 to 3.75 of the JSE Listings Requirements, the   
following should be noted:                                                      
1. Director involved in transaction     Des de Beer who owns 100% of Hollyrood  
Investments (Pty) Ltd, the entity which entered into the transactions           
2. Type of transaction                  Purchases                               
3. First purchase                                                               
a. Number of linked units purchased          4 100                              
b. Purchase price                            R9,80 per linked unit              
c. Date of transaction                       17 January 2003                    
4. Second purchase                                                              
a. Number of linked units purchased          1 610                              
b. Purchase price                            R9,80 per linked unit              
c. Date of transaction                       17 January 2003                    
Johannesburg                                                                    
20 January 2003                                                                 
Investment bank and sponsor                                                     
Nedbank Corporate                                                               
Date: 20/01/2003 09:09:00 AM Produced by the JSE SENS Department
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