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Thu 24 Jun 2004, 17:49 Dealing In Securities By A Director
Pangbourne Properties Limited - Dealing In Securities By A Director 

Release Date: 24/06/2004 17:43:00      Code(s): PAP        
PANGBOURNE PROPERTIES LIMITED - DEALING IN SECURITIES BY A DIRECTOR             
PANGBOURNE PROPERTIES LIMITED                                                   
Incorporated in the Republic of South Africa                                    
(Registration number 1987/002352/06)                                            
Share code: PAP                                                                 
ISIN: ZAE000005252                                                              
(`Pangbourne`)                                                                  
Dealing in securities by a director                                             
In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements of the  
JSE Securities Exchange South Africa (`the JSE`), the following information is  
disclosed:                                                                      
Name of director                   :    A M A Campbell                          
Date of transaction                :    24 June 2004                            
Number of combined units           :    400 000                                 
Class of security                  :    Combined unit                           
Price per combined unit            :    R7.18                                   
Nature of the transaction          :    Allocation of units in terms of         
                                        executive unit purchase scheme          
Aggregate consideration            :    R2 872 000                              
Director`s interest                :    Indirect, beneficial                    
Clearance to deal in these combined units has been obtained in accordance with  
Pangbourne`s policy with regard to directors` dealings as well as the Listings  
Requirements of the JSE.                                                        
Johannesburg                                                                    
24 June 2004                                                                    
Sponsor                                                                         
Standard Bank                                             
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