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Fri 28 Feb 2003, 16:16 SPEARHEAD PROPERTY HOLDINGS LIMITED - DEALINGS IN
Spearhead Property Holdings Limited                                             
(Incorporated in the Republic of South Africa)                                  
(Registration number 1996/005827/06)                                            
(ISIN: ZAE 000019162)                                                           
(Share code: SPE)                                                               
In compliance with rule 3.72 - 3.75 of the Listings Requirements, the following 
information is disclosed:                                                       
Director:                     Mr. F Van Hoogstraten (Non-executive Director)    
Class of Security:            Linked Units                                      
Nature of Transaction:        Purchase - Exercise of Share Options              
Number of Shares and Price:   30 000 SPE Linked Units @ R6.00 each              
Date of Transaction:          27 February 2003                                  
Nature of Interest:           Direct beneficial                                 
Director:                     Mr. F Van Hoogstraten (Non-executive Director)    
Class of Security:            Linked Units                                      
Nature of Transaction:        Disposal of Linked Units                          
Number of Shares and Price:   30 000 SPE Linked Units @ R9.75 each              
Date of Transaction:          27 February 2003                                  
Nature of Interest:           Direct beneficial                                 
Ends                                                                            
Johannesburg                                                                    
28 February 2003                                                                
Sponsor: Bridge Capital Services (Pty) Ltd                                      
Date: 28/02/2003 04:09:10 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
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