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Thu 28 Oct 2004, 12:40 DIRECTORS DEALINGS IN SECURITIES
IFOUR PROPERTIES LIMITED - DIRECTORS DEALINGS IN SECURITIES                     
iFOUR PROPERTIES LIMITED                                                        
Incorporated in the Republic of South Africa)                                   
Registration number 2001/016118/06)                                             
Share code: IFR                                                                 
ISIN: ZAE000039236                                                              
`iFour`)                                                                        
Directors Dealings in Securities                                                
In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements of the  
JSE Securities Exchange South Africa (`the JSE`), the following information is  
disclosed:                                                                      
Director:                          J L Nunes                                    
Date of transaction:               28 October 2004                              
Number of combined units:          384 000                                      
Price:                             R6,81                                        
Aggregate consideration:           R2 615 040                                   
Class of security:                 combined units                               
Type of Holding:                   Direct,Beneficial                            
Nature of transaction:             Allocation of units in                       
terms of an executive                        
                                   unit purchase trust                          
Clearance to deal in these combined units has been obtained in accordance with  
iFour`s policy with regard to directors` dealings as well as the Listings       
Requirements of the JSE.                                                        
Johannesburg                                                                    
28 October 2004                                                                 
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
(Registration no: 1970/003711/07)
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