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Fri 15 Aug 2003, 16:12 CAUTIONARY ANNOUNCEMENT
HYPROP -                                        
Hyprop Investments Limited                                                      
   (Registration number 1987/005284/06)                                         
Share code: HYP   ISIN: ZAE00003430                                          
   ("Hyprop")                                                                   
Hyprop combined unitholders are referred to the announcement                    
("the acquisition announcement") dated 4 July 2003 detailing the terms          
of the acquisition by Hyprop of an undivided 80% share in the Canal Walk        
Shopping Centre.                                                                
   The acquisition announcement advised Hyprop combined unitholders that        
a further announcement including financial effects of the acquisition           
would be published in due course. The financial effects of the                  
acquisition will be announced together with or as soon as possible              
after the release of Hyprop"s results for the interim period ended              
30 June 2003, which are anticipated to be released during the course of         
next week.                                                                      
   Accordingly holders of Hyprop combined units are advised to continue         
exercising caution when dealing in Hyprop combined units until such             
announcement is made.                                                           
Rosebank                                                                     
   15 August 2003                                                               
SPONSOR                                                                         
   JAVACAPITAL                                                                  
Date: 15/08/2003 04:04:33 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
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