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Thu 6 May 2004, 16:48 APPOINTMENT OF DIRECTOR
ALLAN GRAY PROPERTY TRUST - APPOINTMENT OF DIRECTOR                             
  Allan Gray Property Trust                                                       
  A Collective Investment Scheme in property registered in terms of the Collective
  Investment Schemes Control Act, No 45 of 2002 and managed by Allan Gray Property
  Trust Management Limited (Registration number 1983/003324/06)                   
  ("Grayprop")                                                                    
  Share code: GRY ISIN: ZAE000013165                                              
  APPOINTMENT OF DIRECTOR                                                         
  In terms of section 3, paragraph 3.59 of the Listings Requirements of the JSE   
  Securities Exchange South Africa, Grayprop advises unitholders that with        
  immediate effect Gregory Fury has been appointed, as an alternate director to   
  Jack Mitchell, to the Board of Directors of Allan Gray Property Trust Management
  Limited, the manager of Grayprop.                                               
  Cape Town                                                                       
  6 May 2004                                                                      
  Sponsor                                                                         
  Standard Bank                                                                   
  Date: 06/05/2004 04:44:37 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  

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