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Thu 12 Feb 2004, 16:10 CHANGE TO THE BOARD OF DIRECTORS
Paramount Property Fund Limited - Change To The Board Of Directors              
  Paramount Property Fund Limited                                                 
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1945/019928/06)                                            
  Share code: PRA                                                                 
  ISIN: ZAE000028577                                                              
  CHANGE TO THE BOARD OF DIRECTORS                                                
  In compliance with section 3.59 of the Listings Requirements of the JSE         
  Securities Exchange South Africa, notification is hereby given that Dr SF       
  Booysen has resigned as non-executive director of Paramount with effect from 12 
  February 2004.                                                                  
  Shareholders are further advised that Mr F Meisenholl has been appointed as non-
  executive director of Paramount with effect from 12 February 2004.              
  Cape Town                                                                       
  12 February 2004                                                                
  Sponsor                                                                         
  Nedbank Corporate                                                               
  Date: 12/02/2004 04:08:02 PM Produced by the JSE SENS Department
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