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Fri 3 Sep 2004, 15:07 DEALING IN SECURITIES BY A DIRECTOR
SYCOM PROPERTY FUND - DEALING IN SECURITIES BY A DIRECTOR                       
Sycom Property Fund                                                             
(`Sycom` or `the Fund`)                                                         
A Collective Investment Scheme in property registered in terms of the Collective
Investment Schemes Control Act, No. 45 of 2002 and managed by Sycom Property    
Fund Managers Limited                                                           
(Registration number 1986/002756/06)                                            
JSE Share code: SYC                                                             
ISIN: ZAE000019303                                                              
DEALING IN SECURITIES BY A DIRECTOR                                             
In compliance with section 3.63 to 3.65 of the JSE Securities Exchange South    
Africa Listings Requirements, the following information is disclosed:           
Director                     C J V Fleming                                      
Company                      Sycom Property Fund Managers Limited, the          
                             management company of Sycom                        
Class of securities          Sycom units                                        
Transaction date             2 September 2004                                   
Price                        R11.05 per unit                                    
Number of securities         85 000 units                                       
Total value                  R939 250.00                                        
Nature of transactions       Open market sale                                   
Extent of interest           Indirect beneficial                                
Clearance to deal obtained   Yes                                                
Johannesburg                                                                    
3 September 2004                                                                
Sponsor                                                                         
Nedbank Capital
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