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Paraprop - Fulfillment of the condition precedent regarding the Golden Acre     
           Centre acquisition                                                   
PARAMOUNT PROPERTY FUND LIMITED                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1945/019928/06)                                            
Share code:  PRA                                                                
ISIN:   ZAE000028577                                                            
(`Paraprop`)                                                                    
FULFILLMENT OF THE CONDITION PRECEDENT REGARDING THE GOLDEN ACRE CENTRE         
ACQUISITION                                                                     
Linked unit holders are referred to the announcement dated 4 October 2004       
regarding the Golden Acre Centre acquisition (`the acquisition`) and are hereby 
advised that Competition Commission approval, being the last outstanding        
condition precedent pertaining to the acquisition, has been obtained.           
Cape Town                                                                       
11 November 2004                                                                
Investment bank and sponsor                                                     
Nedbank Capital                                                                 
Date: 11/11/2004 04:45:24 PM                   
Produced by the JSE SENS Department

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