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Fri 14 Mar 2003, 12:23 A-prop - Dealing In Securities By Director
A-PROP - Dealing in Securities by Director                                      
ARNOLD PROPERTY FUND LIMITED                                                    
ISIN:       ZAE000031720                                                        
Share code: ARP                                                                 
In terms of rule 3.72 to 3.75 of the JSE Securities Exchange SA Listings        
requirements the following is disclosed:                                        
1.   Date of transaction:                    14 March 2003                      
2.   Number of linked units sold:            490 315                            
3.   Price:                                  R1.50                              
4.   Class of securities:                    linked units                       
5.   Nature of the transaction:              sale                               
6.   Directors" names                        David and Jeffrey Solomon          
7.   Position:                               Non-Executive Directors            

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