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Tue 21 Jan 2003, 12:07 RESILIENT PROPERTY INCOME FUND LIMITED - DIRECTORS
RESILIENT PROPERTY INCOME FUND LIMITED                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 2002/016851/06)                                            
Share code: RES    ISIN ZAE000043642                                            
("Resilient")                                                                   
Directors Dealings In Securities                                                
In Compliance with section 3.72 to 3.75 of the JSE Listings Requirements, the   
following should be noted:                                                      
1. Directors involved in transaction    Jeff Zidel, Barry Stuhler and David     
                                        Lewis, who respectively own 10%, 10% and
5% of Resilient Property Management     
                                        (Pty) Ltd ("Resilient Manco"), the      
                                        entity which entered into the           
                                        transaction                             
It should also be noted that Des de Beer
                                        has an option to acquire 10% of         
                                        Resilient Manco before 31 August 2003.  
2. Type of transaction                  Purchase                                
3. Number of linked units purchased     188 000                                 
4. Purchase price                       R4,99 per linked unit                   
5. Date of transaction                  17 January 2003                         
Johannesburg                                                                    
21 January 2003                                                                 
Investment bank and sponsor                                                     
Nedbank Corporate                                                               
Date: 21/01/2003 11:59:28 AM Produced by the JSE SENS Department                


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