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Tue 17 Feb 2004, 17:46 Trading Statement And Cautionary Announcement
Premium Properties Limited - Trading Statement And Cautionary Announcement      
  Premium Properties Limited                                                      
  (Incorporated in the Republic of South Africa)                                  
  (Registration number:  1994/003601/06)                                          
  Share Code:  PMM    ISIN:  ZAE000009254                                         
  ("Premium")                                                                     
  TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT                                   
  In terms of the Listings Requirements of the JSE Securities Exchange South      
  Africa  ("the JSE Listings Requirements") a listed company is required to       
  publish a trading statement as soon as it becomes aware that the financial      
  results for the next period to be reported on will be materially different from 
  those of the previous corresponding period.                                     
  It is expected that earnings per linked unit and headline earnings per linked   
  unit for the twelve months ending 29 February 2004 will be materially higher    
  than those of the previous financial year ended 28 February 2003.  The JSE      
  Listings Requirements defines "materially" as an increase or decrease of between
  10% and 30%.                                                                    
  As the above information has not been reviewed or reported on by Premium"s      
  auditors, linked unit holders are advised to exercise caution when dealing in   
  Premium"s linked units  until the release of the announcement of Premium"s      
  financial results for the 12 months to 29 February 2004 which are expected to be
  published on or about 15 April 2004.                                            
  Pretoria                                                                        
  17 February 2004                                                                
  Sponsor                                                                         
  PSG CAPITAL LIMITED                                                             
  Date: 17/02/2004 05:15:02 PM Produced by the JSE SENS Department                
                                                                                  
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