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Fri 2 Jul 2004, 14:12 Distribution Of Apexhi Linked Units
Shops for Africa - Distribution Of Apexhi Linked Units Following The Disposal Of
  Shops For Africa Property Portfolio                                             
  Shops for Africa Limited                                                        
  (Incorporated in the Republic of South Africa)                                  
  (Company Registration Number 2000/018084/06)                                    
  Share Code: SFA    ISIN Code: ZAE000031241                                      
  (`Shops for Africa` or `the Company`)                                           
  DISTRIBUTION OF APEXHI LINKED UNITS FOLLOWING THE DISPOSAL OF SHOPS FOR AFRICA  
  PROPERTY PORTFOLIO                                                              
  Shops for Africa linked unit-hoIders (`unit-holders`) are referred to the       
  announcements published on SENS on 25 May and 18 June 2004 relating to the      
  revised salient dates for the distribution of ApexHi Properties Limited         
  (`ApexHi`) linked units to unit-holders.                                        
  Unit-holders are advised that transfer of the property portfolio took place on  
  30 June 2004 and the salient dates of the distribution of ApexHi linked units   
  that was published on 18 June 2004, will therefore apply as follows:            
  .                                                                               
     Record date                    Friday, 16 July 2004                          
     ApexHi certificates in                                                       
  respect of distribution        Monday, 19 July 2004                          
     linked units distributed to                                                  
     certificated Shops for Africa                                                
     unit-holders on                                                              
  Accounts at the CSDP or                                                      
     broker will be updated in      Monday, 19 July 2004                          
     respect of dematerialised                                                    
     Shops for Africa unit-holders                                                
  on                                                                           
     Termination of listing of      Date of final                                 
     linked units on the JSE on or  liquidation of the                            
     about the                      company                                       
  Unit-holders are further advised that they will be entitled to trade in their   
  entitlements to ApexHi linked units from Monday, 12 July 2004.                  
  Cape Town                                                                       
  2 July 2004                                                                     
  Corporate Advisor and Sponsor                                                   
  Sasfin Corporate Finance                                                        
  (A division of Sasfin Bank Limited)                                             
  Portfolio Asset Manager                                                         
  Catalyst Property Asset Managers (Pty) Ltd                                      
  Date: 02/07/2004 01:45:45 PM Produced by the JSE SENS Department
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