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Fri 9 Jul 2004, 15:03 Distribution Of Remaining Acucap Linked Units
Acucap Properties Limited - Distribution Of Remaining Acucap Linked Units From 

Release Date: 09/07/2004 14:42:28      Code(s): ACP        
ACUCAP PROPERTIES LIMITED - DISTRIBUTION OF REMAINING ACUCAP LINKED UNITS FROM  
ACUCAP PROPERTY MANAGEMENT (PTY) LIMITED TO ITS SHAREHOLDERS                    
ACUCAP PROPERTIES LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 2001/021725/06)                                            
Share code:  ACP      ISIN:  ZAE000037651                                       
(`Acucap`)                                                                      
DISTRIBUTION OF REMAINING ACUCAP LINKED UNITS FROM ACUCAP PROPERTY MANAGEMENT   
(PROPRIETARY) LIMITED (`ACUCAP MANCO`) TO ITS SHAREHOLDERS                      
Shareholding in Acucap Manco                                                    
Acucap linked unitholders are reminded of the shareholding in Acucap Manco (an  
unlisted company that asset manages Acucap`s property portfolio and manages     
Acucap) which is as follows:                                                    
     Name of shareholder                            Percentage                  
                                                    held                        
Nedbank Capital, a division of Nedbank         37,5%                       
     Limited                                                                    
     Sanlam Property Asset Management               37,5%                       
     John Rens Family Trust                         12,5%                       
PA Theodosiou Primary Trust                    12,5%                       
2.   Distribution of remaining Acucap linked units by Acucap Manco              
Further to the announcement dated 7 June 2004, which advised Acucap linked      
unitholders that Acucap Manco had distributed 170 000 Acucap linked unit to its 
shareholders, Acucap Manco has distributed the remaining 34 445 Acucap linked   
units to its shareholders as disclosed above, in proportion to their current    
shareholdings.                                                                  
PA Theodosiou and JH Rens, both executive directors of Acucap are trustees and  
beneficiaries of the PA Theodosiou Primary Trust and the John Rens Family Trust 
respectively.                                                                   
Johannesburg                                                                    
9 July 2004                                                                     
Sponsor                                                                         
Nedbank Capital                                                                 
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