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Fri 3 Sep 2004, 15:03 DIRECTOR"S DEALINGS IN UNITS
CAPITAL - DIRECTOR`S DEALINGS IN UNITS                                          
Capital Property Fund                                                           
(`Capital` or the `Fund`)                                                       
Share Code:  CPL                                                                
ISIN: ZAE000001731                                                              
(A Portfolio in Capital Property Trust Scheme, a Collective Investment Scheme in
Property established in terms of the Collective Investment Schemes Control Act, 
No 45 of 2002 managed by Property Fund Managers Limited (`PFM`))                
(Incorporated in the Republic of South Africa)                                  
(Registration No. 1980/009531/06)                                               
DIRECTOR`S DEALINGS IN UNITS                                                    
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, the       
following information is disclosed:                                             
1. Director                      :    Des de Beer, who is a                     
                                      trustee and beneficiary                   
of the Suni Trust, the                    
                                      entity which entered                      
                                      into the transaction.                     
   Number of units               :    50 000                                    
Price per unit                :    R2,60                                     
   Value of the transaction      :    R130 000                                  
   Date of transaction           :    2 September 2004                          
   Nature of transaction         :    Open market purchase                      
Nature of interest            :    Indirect Beneficial                       
Clearance to deal in compliance with paragraph 3.66 of the JSE Listings         
Requirements has been obtained.                                                 
3 September 2004                                                                
Sponsor                                                                         
Java Capital (Pty) Ltd
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