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Mon 1 Mar 2004, 16:31 DEALING IN LINKED UNITS BY A DIRECTOR
ACUCAP PROPERTIES LIMITED - DEALING IN LINKED UNITS BY A DIRECTOR               
  ACUCAP PROPERTIES LIMITED                                                       
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 2001/021725/06)                                            
  Share code:  ACP      ISIN:  ZAE000037651                                       
  ("Acucap")                                                                      
  DEALING IN LINKED UNITS BY A DIRECTOR                                           
  In compliance with rule 3.63 of the JSE Listings Requirements, the following    
  information is disclosed:                                                       
  Independent Non-Executive director           :D de Beer who owns 50% of         
                                                Optimprops 3 (Proprietary)        
  Limited, the entity which entered 
                                                into the transaction              
  Director of                                  :Acucap                            
  Date of transaction                          :27 February 2004                  
  Number of linked units purchased             :50 000                            
  Price purchased at                           :R13.00 per linked unit            
  Value of transaction                         :R650 000                          
  Extent of interest                           :Indirect beneficial               
  Share class                                  :Linked units                      
  Nature of transaction                        :Purchase on the open market       
  Written clearance to deal                    :Yes                               
  Johannesburg                                                                    
  1 March 2004                                                                    
  Sponsor                                                                         
  Nedbank Corporate                                                               
  Date: 01/03/2004 04:26:03 PM Produced by the JSE SENS Department                
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