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Thu 29 Jul 2004, 16:48 DIRECTOR"S DEALINGS IN COMBINED UNITS
HYPROP INVESTMENTS LIMITED - DIRECTOR`S DEALINGS IN COMBINED UNITS              
Hyprop Investments Limited                                                      
Registration no. 1987/005284/06                                                 
JSE Share Code:  HYP          ISIN Code:  ZAE000003430                          
DIRECTOR`S DEALINGS IN COMBINED UNITS                                           
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, the       
following information is disclosed:                                             
1. Director                      :    Joshua Bentel                             
   Number of combined units      :    48 189 (rights in                         
                                      respect of 253 625                        
                                      combined units)                           
Price per combined unit       :    R13,50                                    
   Value of the transaction      :    R650 551.50                               
   Date of transaction           :    28 July 2004                              
   Nature of transaction         :    Exercise of rights in                     
terms of a rights issue                   
   Nature of interest            :    27 290 combined units                     
                                      Direct Beneficial                         
                                      and 20 899 combined                       
units Indirect                            
                                      Beneficial                                
Clearance to exercise rights in terms of a rights issue in compliance with      
paragraph 3.66 of the JSE Listings Requirements has been obtained.              
2. Director                      :    Peter Kirchmann                           
   Number of combined units      :    205 394(rights in                         
                                      respect of 1 081 021                      
                                      combined units)                           
Price per combined unit       :    R13,50                                    
   Value of the transaction      :    R2 772 819                                
   Date of transaction           :    28 July 2004                              
   Nature of transaction         :    Exercise of rights in                     
terms of a rights issue                   
   Nature of interest            :    25 831 combined units                     
                                      Direct Beneficial,                        
                                      168 711 combined units                    
indirect beneficial and                   
                                      10 852 combined units                     
                                      indirect non-beneficial                   
Clearance to exercise rights in terms of a rights issue in compliance with      
paragraph 3.66 of the JSE Listings Requirements has been obtained.              
3. Director                      :    Stewart Shaw-Taylor                       
   Number of combined units      :    1 354(rights in                           
                                      respect of 7 126                          
combined units)                           
   Price per combined unit       :    R13,50                                    
   Value of the transaction      :    R18 279                                   
   Date of transaction           :    28 July 2004                              
Nature of transaction         :    Exercise of rights in                     
                                      terms of a rights issue                   
   Nature of interest            :    Direct Beneficial                         
Clearance to exercise rights in terms of a rights issue in compliance with      
paragraph 3.66 of the JSE Listings Requirements has been obtained.              
4. Director                      :    Peter Whewell                             
   Number of combined units      :    36 256(rights in                          
                                      respect of 190 820                        
combined units)                           
   Price per combined unit       :    R13,50                                    
   Value of the transaction      :    R489 456                                  
   Date of transaction           :    28 July 2004                              
Nature of transaction         :    Exercise of rights in                     
                                      terms of a rights issue                   
   Nature of interest            :    Direct Beneficial                         
Clearance to exercise rights in terms of a rights issue in compliance with      
paragraph 3.66 of the JSE Listings Requirements has been obtained.              
5. Director                      :    Les Weil                                  
   Number of combined units      :    312(rights in                             
                                      respect of 1 641                          
combined units)                           
   Price per combined unit       :    R13,50                                    
   Value of the transaction      :    R4 212                                    
   Date of transaction           :    28 July 2004                              
Nature of transaction         :    Exercise of rights in                     
                                      terms of a rights issue                   
   Nature of interest            :    Direct Beneficial                         
Clearance to exercise rights in terms of a rights issue in compliance with      
paragraph 3.66 of the JSE Listings Requirements has been obtained.              
6. Director                      :    Peter Thurling                            
   Number of combined units      :    1 900(rights in                           
                                      respect of 10 000                         
combined units)                           
   Price per combined unit       :    R13,50                                    
   Value of the transaction      :    R25 650                                   
   Date of transaction           :    28 July 2004                              
Nature of transaction         :    Exercise of rights in                     
                                      terms of a rights issue                   
   Nature of interest            :    Direct Beneficial                         
Clearance to exercise rights in terms of a rights issue in compliance with      
paragraph 3.66 of the JSE Listings Requirements has been obtained.              
7. Director                      :    Michael Aitken                            
   Number of combined units        :  1 354(rights in                           
                                      respect of 7 126                          
combined units)                           
   Price per combined unit       :    R13,50                                    
   Value of the transaction      :    R18 279                                   
   Date of transaction           :    28 July 2004                              
Nature of transaction         :    Exercise of rights in                     
                                      terms of a rights issue                   
   Nature of interest            :    Direct Beneficial                         
Clearance to exercise rights in terms of a rights issue in compliance with      
paragraph 3.66 of the JSE Listings Requirements has been obtained.              
29 July 2004                                                                    
Sponsor                                                                         
Java Capital (Pty) Ltd
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