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Tue 29 Jun 2004, 16:12 DIRECTORS DEALING ANNOUNCEMENT
MICCPROP - DIRECTORS DEALINGS                                                   
MICC Property Income Fund Limited                                               
Formerly Clidet No.455 (Proprietary) Limited                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 2003/013404/06)                                            
(`MICCPROP`)                                                                    
JSE Share code: MCP    NSX Share code: MCO                                      
ISIN: ZAE000050175                                                              
DIRECTORS DEALING ANNOUNCEMENT                                                  
In compliance with section 3.63 of the Listings Requirements of the JSE, we     
hereby advise the following dealings by a non-executive director in the         
company`s securities:                                                           
Name of director      Johann de Beer                                            
Date of trade         Number of shares    Price (cents)                         
28 January 2004       60 834              530                                   
28 January 2004       9 166               530                                   
3 February 2004       19 500              530                                   
5 February 2004       60 500              525                                   
6 February 2004       13 200              525                                   
10 February 2004      25 000              525                                   
11 February 2004      11 800              525                                   
5 March 2004          400 000             505                                   
Class of securities        Linked units                                         
Nature                     Sale of linked units                                 
Interest                   Indirect non-beneficial                              
Clearance to deal was not received in terms of paragraph 3.66 of the JSE        
Listings Requirements.                                                          
Johannesburg                                                                    
29 June 2004                                                                    
Sponsor:                                                                        
Java Capital (Pty) Limited                                                      
Date: 29/06/2004 04:04:55 PM                    
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