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Fri 12 Sep 2003, 15:27 Distribution Announcement
Paramount Property Fund Limited -            
  PARAMOUNT PROPERTY FUND LIMITED                                                 
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1945/019928/06)                                            
  Share code: PRA                                                                 
  ISIN: ZAE000028577                                                              
  DISTRIBUTION ANNOUNCEMENT                                                       
  Notice is hereby given that the board has declared a quarterly interest         
  distribution of 12,0 cents per linked unit, in respect of the quarter ended 31  
  July 2003.                                                                      
  The last day to trade cum distribution will be Friday, 3 October 2003. The      
  linked units will commence trading ex distribution as from Monday, 6 October    
  2003 and the record date will be Friday, 10 October 2003. The distribution will 
  be paid on Monday, 13 October 2003.                                             
  Linked unit certificates may not be dematerialised or rematerialised between    
  Monday, 6 October 2003 and Friday, 10 October 2003, both days inclusive.        
  Cape Town                                                                       
  12 September 2003                                                               
  Sponsor                                                                         
  Nedbank Corporate                                                               
  Date: 12/09/2003 03:20:51 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  
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