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Fri 17 Sep 2004, 11:49 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 terms of paragraph 3.63 - 3.65 of the Listings Requirements of the JSE       
Securities Exchange South Africa, the following information, relating to the    
dealing in securities by a director, is disclosed:                              
Independent Non-Executive director:     Des de Beer, who is a trustee of The    
                                        Suni Trust, the entity which entered    
into the transaction                    
Company of which a director             Acucap                                  
Date of transaction:                    15 September 2004                       
Number of linked units sold:            50 000                                  
Price sold at:                          R13.50 per linked unit                  
Value of transaction:                   R675 000                                
Extent of interest:                     Indirect beneficial                     
Share class:                            Linked units                            
Nature of transaction:                  Open market purchase                    
Written clearance to deal:              Yes                                     
Cape Town                                                                       
17 September 2004                                                               
Sponsor                                                                         
Nedbank Capital
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