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Thu 9 Sep 2004, 13:50 Distribution Announcement
Paramount Property Fund Limited - Distribution Announcement                     
Paramount Property Fund Limited                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1945/019928/06)                                            
Share code: PRA                                                                 
ISIN: ZAE000028577                                                              
DISTRIBUTION ANNOUNCEMENT                                                       
Notice is hereby given that the board has declared a quarterly interest         
distribution of 12,5 cents per linked unit, in respect of the quarter ended 31  
July 2004. The last day to trade cum distribution will be Thursday, 23 September
2004. The linked units will commence trading ex distribution as from Monday, 27 
September 2004 and the record date will be Friday, 1 October 2004.  The         
distribution will be paid on Monday, 4 October 2004.                            
Linked unit certificates may not be dematerialised or rematerialised between    
Monday, 27 September 2004 and Friday, 1 October 2004, both days inclusive.      
Cape Town                                                                       
9 September 2004                                                                
Sponsor                                                                         
Nedbank Capital
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