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Thu 30 Jan 2003, 14:31 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 transaction            
2. Type of transaction                  Purchase                                
3. Number of linked units purchased     21 880                                  
4. Purchase price                       R9,50 per linked unit                   
5. Date of transaction                  29 January 2003                         
Johannesburg                                                                    
30 January 2003                                                                 
Investment bank and sponsor                                                     
Nedbank Corporate                                                               
Date: 30/01/2003 01:24:51 PM Produced by the JSE SENS Department
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