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Mon 12 Jul 2004, 10:33 Dealing In Linked Units By A Director
Acucap Properties Limited - Dealing In Linked Units By A Director               
  Acucap Properties Limited                                                       
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 2001/021725/06)                                            
  Share code:  ACP      ISIN:  ZAE000037651                                       
  (`Acucap`)                                                                      
  DEALING IN LINKED UNITS BY A DIRECTOR                                           
  In compliance with rule 3.63 to 3.65 of the JSE Securities Exchange South Africa
  Listings Requirements, the following information is disclosed:                  
  Executive director:                Jonathan Rens who is a trustee and           
                                     beneficiary of the John Rens Family Trust,   
  the entity through which the transaction was 
                                     entered                                      
  Date of transaction:               9 July 2004                                  
  Number of linked units purchased:  8 400                                        
  Purchase price:                    R12.35 per linked unit                       
  Value of transaction:              R103 740                                     
  Extent of interest:                Indirect beneficial                          
  Class of securities:               Linked units                                 
  Nature of transaction:             Purchase on the open market                  
  Written clearance to deal:         Yes                                          
  Cape Town                                                                       
  12 July 2004                                                                    
  Sponsor                                                                         
  Nedbank Capital                                                                 
  Date: 12/07/2004 10:26:27 AM Produced by the JSE SENS Department                
                                                                                  
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