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PREMIUM PROPERTIES LIMITED - TRADING UPDATE                                     
PREMIUM PROPERTIES LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number 1994/003601/06)                                            
(`Premuim`)                                                                     
Share code:  PMM      ISIN:  ZAE000009254                                       
TRADING UPDATE                                                                  
Linked unit holders are advised that the distribution and headline earnings per 
linked unit for the six months ended 31 August 2004 are expected to be between  
20% and 30% higher than those of the prior comparative period.                  
The results for the six months ended 31 August 2004 have not been reviewed and  
reported on by Premium`s auditors and are expected to be released on or about 22
October 2004.                                                                   
By order of the Board                                                           
13 October 2004                                                                 
Sponsor and investment bank                                                     
Nedbank Capital                                                                 
Date: 13/10/2004 02:51:07 PM                
Produced by the JSE SENS Department

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