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Thu 23 Jan 2003, 14:37 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")                                                                      
Directors Dealings In Securities                                                
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         
                                          transaction                           
2. Designation                          : Non-executive director                
3. Extent of Directors` Interest        : Direct interest                       
4. Type of transaction                  : Purchase                              
5. Number of linked units purchased     : 50 354                                
6. Purchase price                       : R9,60 per linked unit                 
7. Date of transaction                  : 22 January 2003                       
Johannesburg                                                                    
23 January 2003                                                                 
Investment bank and sponsor                                                     
Nedbank Corporate                                                               
Date: 23/01/2003 02:29:00 PM Produced by the JSE SENS Department                
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