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Primegro Properties Limited                                                     
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/018436/06)                                            
Share code PMG   ISIN ZAE000022620                                              
("Primegro")                                                                    
Primegro Properties Limited - Cautionary Announcement                           
Primegro linked unitholders are advised that a number of initiatives are        
currently underway, which individually or collectively could have an impact on  
the Primegro linked unit price.                                                 
Linked unitholders will be informed as soon as possible of the outcome of these 
initiatives.                                                                    
In the meanwhile, linked unitholders are advised to exercise caution when       
dealing in their linked units.                                                  
Sandton                                                                         
3 February, 2003                                                                
Investment bank                                                                 
and sponsor                                                                     
NEDBANK CORPORATE                                                               
Date: 03/02/2003 02:42:00 PM Produced by the JSE SENS Department

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