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Mon 4 Oct 2004, 10:47 Capital Property Fund - DIRECTOR"S DEALINGS IN UNI
Capital Property Fund - 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. Company secretary             : Andries De Lange                             
   Number of units               : 2 765 990                                    
Price per unit                : R2,30                                        
   Value of the transaction      : R6 361 777                                   
   Date of transaction           : 30 September 2004                            
   Nature of transaction         : Allotment in terms of Property Fund Managers 
Limited Share Incentive Scheme               
   Nature of interest            : Direct Beneficial                            
2. Director                      : Barry Lester Stuhler                         
   Number of units               : 4 056 782                                    
Price per unit                : R2,30                                        
   Value of the transaction      : R9 330 598                                   
   Date of transaction           : 30 September 2004                            
   Nature of transaction         : Allotment in terms of Property Fund Managers 
Limited Share Incentive Scheme               
   Nature of interest            : Direct Beneficial                            
3. Alternate  director           : Charles Ryan                                 
   Number of units               : 2 765 990                                    
Price per unit                : R2,30                                        
   Value of the transaction      : R6 361 777                                   
   Date of transaction           : 30 September 2004                            
   Nature of transaction         : Allotment in terms of Property Fund Managers 
Limited Share Incentive Scheme               
   Nature of interest            : Direct Beneficial                            
4. Director                      : Craig Brabazon Hallowes                      
   Number of units               : 2 765 990                                    
Price per unit                : R2,30                                        
   Value of the transaction      : R6 361 777                                   
   Date of transaction           : 30 September 2004                            
   Nature of transaction         : Allotment in terms of Property Fund Managers 
Limited Share Incentive Scheme               
   Nature of interest            : Direct Beneficial                            
5. Director                      : Thanduxolo Selby Sishuba                     
   Number of units               : 2 028 380                                    
Price per unit                : R2,30                                        
   Value of the transaction      : R4 665 274                                   
   Date of transaction           : 30 September 2004                            
   Nature of transaction         : Allotment in terms of Property Fund Managers 
Limited Share Incentive Scheme               
   Nature of interest            : Direct Beneficial                            
6. Director                      : Modise Albert Gabotlhaelwe                   
   Number of units               : 1 290 790                                    
Price per unit                : R2,30                                        
   Value of the transaction      : R2 968 817                                   
   Date of transaction           : 30 September 2004                            
   Nature of transaction         : Allotment in terms of Property Fund Managers 
Limited Share Incentive Scheme               
   Nature of interest            : Direct Beneficial                            
Clearance in compliance with paragraph 3.66 of the JSE Listings Requirements has
been obtained.                                                                  
4 October 2004                                                                  
Sponsor                                                                         
Java Capital (Pty) Ltd
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