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iFOUR PROPERTIES LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
JSE code: IFR          ISIN: ZAE000039236                                       
(Registration number 2001/016118/06)                                            
("iFour")                                                                       
PRESS RELEASE - DIRECTOR"S RESIGNATION                                          
In compliance with Paragraph 3.67 of the JSE Securities Exchange South Africa   
Listings Requirements linked unitholders are advised that Mr RS Ntuli has       
resigned as a director of iFour Properties Limited with immediate effect.       
Johannesburg                                                                    
10 April 2003                                                                   
Sponsor                                                                         
PricewaterhouseCoopers                                                          
Corporate Finance (Pty) Ltd                                                     
(Registration number 1970/003711/07)                                            

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