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Tue 12 Oct 2004, 13:43 DEALING IN SECURITIES BY A DIRECTOR
RESILIENT - DEALING IN SECURITIES BY A DIRECTOR                                 
RESILIENT PROPERTY INCOME FUND LIMITED                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 2002/016851/06)                                            
Share code: RES     ISIN: ZAE000043642                                          
(`Resilient`)                                                                   
DEALING IN SECURITIES 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:                              
Executive director            Jeffrey Zidel, who owns 75% of Maxtrade Seven     
(Proprietary) Limited, the entity which entered   
                              into the transaction                              
Company of which a director   Resilient                                         
Transaction date              11 October 2004                                   
Class of securities           Linked units                                      
Price                         R7.55 per linked unit                             
Number of securities          316 000                                           
Total value                   R2 385 800                                        
Nature of transaction         Open market purchase                              
Extent of interest            Indirect beneficial                               
Clearance to deal obtained    Yes                                               
Johannesburg                                                                    
12 October 2004                                                                 
Sponsor                                                                         
Nedbank Capital
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