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HYPROP INVESTMENTS LIMITED - CAUTIONARY ANNOUNCEMENT                            
Hyprop Investments Limited                                                      
(Registration No. 1987/005284/06)                                               
Share code: HYP        ISIN code: ZAE00003430                                   
("Hyprop")                                                                      
                                           
Java Capital is authorised to announce that Hyprop is involved in negotiations  
in relation to a substantial acquisition which, if successfully concluded, may  
have an effect on the price at which the Hyprop combined units trade.           
Hyprop combined unitholders are accordingly advised to exercise caution when    
dealing in their combined units until such time as a further announcement is    
made.                                                                           
Rosebank                                                                        
1 July 2003                                                                     
  Corporate adviser and sponsor                                                 
Java Capital (Proprietary) Limited                                            
Date: 01/07/2003 04:50:16 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                

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