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Thu 4 Nov 2004, 11:17 RESIGNATION OF NON-EXECUTIVE DIRECTOR
SYCOM PROPERTY FUND - RESIGNATION OF NON-EXECUTIVE DIRECTOR                     
Sycom Property Fund                                                             
(`Sycom` or `the Fund`)                                                         
A Collective Investment Scheme in property registered in                        
terms of the Collective Investment Schemes Control Act, No 45                   
of 2002 and managed by Sycom Property Fund Managers Limited                     
(Registration number 1986/002756/06)                                            
JSE share code: SYC                                                             
ISIN: ZAE000019303                                                              
RESIGNATION OF NON-EXECUTIVE DIRECTOR                                           
In accordance with Section 3.59 of the JSE Securities Exchange South Africa     
Listings Requirements, unitholders are advised that Mr Michael John Watters has 
resigned as a non-executive director of the Fund with effect from 3 November    
2004.                                                                           
Johannesburg                                                                    
4 November 2004                                                                 
Sponsor                                                                         
Nedbank Capital
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