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Thu 11 Nov 2004, 18:03 DEALING IN SECURITIES BY DIRECTORS
PARAMOUNT PROPERTY FUND LIMITED - DEALING IN SECURITIES BY DIRECTORS            
PARAMOUNT PROPERTY FUND LIMITED                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1945/019928/06)                                            
Share code: PRA ISIN: ZAE000028577                                              
(`Paraprop`)                                                                    
DEALING IN SECURITIES BY DIRECTORS                                              
In compliance with 3.63 to 3.65 of the JSE Listings Requirements, the following 
information is disclosed:                                                       
Executive director                      B H Kerswill                            
Director of                             Paraprop                                
Transaction date                        11 November 2004                        
Class of securities                     Linked units                            
Price                                   R3,98 per linked unit, being the        
                                        weighted average traded price           
for 30 days prior to                    7 September 2004                        
Number of securities                    264 000                                 
Total value                             R1 050 720                              
Nature of transaction                   Linked units delivered in terms of a    
vendor placing of 15 075 000 Paraprop   
                                        linked units which took place in October
                                        2004 relating to the acquisition of the 
                                        Golden Acre Centre, details of which    
have been included in an announcement   
                                        dated 4 October 2004                    
Extent of interest                      Indirect beneficial                     
Clearance to deal obtained              Yes                                     
Executive director                      R C Squire-Howe                         
Director of                             Paraprop                                
Transaction date                        11 November 2004                        
Class of securities                     Linked units                            
Price                                   R3,98 per linked unit, being the        
                                        weighted average traded price           
for 30 days prior to                    7 September 2004                        
Number of securities                    314 000                                 
Total value                             R1 249 720                              
Nature of transaction                   Linked units delivered in terms of a    
                                        vendor placing of 15 075 000 Paraprop   
                                        linked units which took place in October
2004 relating to the acquisition of the 
                                        Golden Acre Centre, details of which    
                                        have been included in an announcement   
                                        dated 4 October 2004                    
Extent of interest                      Indirect beneficial                     
Clearance to deal obtained              Yes                                     
Non-executive director                  A D P Ovenstone                         
Director of                             Paraprop                                
Transaction date                        11 November 2004                        
Class of securities                     Linked units                            
Price                                   R3,98 per linked unit, being the        
                                        weighted average traded price for 30    
days prior to 7 September 2004          
Number of securities                    392 000                                 
Total value                             R1 560 160                              
Nature of transaction                   Linked units delivered in terms of a    
vendor placing of 15 075 000 Paraprop   
                                        linked units which took place in October
                                        2004 relating to the acquisition of the 
                                        Golden Acre Centre, details of which    
have been included in an announcement   
                                        dated 4 October 2004                    
Extent of interest                      Indirect non-beneficial                 
Clearance to deal obtained              Yes                                     
Executive director                      F J Jenkings                            
Director of                             Paraprop                                
Transaction date                        11 November 2004                        
Class of securities                     Linked units                            
Price                                   R3,98 per linked unit, being the        
                                        weighted average traded price for 30    
                                        days prior to 7 September 2004          
Number of securities                    90 000                                  
Total value                             R358 200                                
Nature of transaction                   Linked units delivered in terms of a    
                                        vendor placing of 15 075 000 Paraprop   
                                        linked units which took place in October
2004 relating to the acquisition of the 
                                        Golden Acre Centre, details of which    
                                        have been included in an announcement   
                                        dated 4 October 2004                    
Extent of interest                      Indirect beneficial                     
Clearance to deal obtained              Yes                                     
Executive director                      A A Maresky                             
Director of                             Paraprop                                
Transaction date                        11 November 2004                        
Class of securities                     Linked units                            
Price                                   R3,98 per linked unit, being the        
                                        weighted average traded price for 30    
days prior to 7 September 2004          
Number of securities                    85 000                                  
Total value                             R338 300                                
Nature of transaction                   Linked units delivered in terms of a    
vendor placing of 15 075 000 Paraprop   
                                        linked units which took place in October
                                        2004 relating to the acquisition of the 
                                        Golden Acre Centre, details of which    
have been included in an announcement   
                                        dated 4 October 2004                    
Extent of interest                      Indirect beneficial                     
Clearance to deal obtained              Yes                                     
Alternate director                      G C Cannings                            
Director of                             Paraprop                                
Transaction date                        11 November 2004                        
Class of securities                     Linked units                            
Price                                   R3,98 per linked unit, being the        
                                        weighted average traded price for 30    
                                        days prior to 7 September 2004          
Number of securities                    150 000                                 
Total value                             R597 000                                
Nature of transaction                   Linked units delivered in terms of a    
                                        vendor placing of 15 075 000 Paraprop   
                                        linked units which took place in October
2004 relating to the acquisition of the 
                                        Golden Acre Centre, details of which    
                                        have been included in an announcement   
                                        dated 4 October 2004                    
Extent of interest                      Direct beneficial                       
Clearance to deal obtained              Yes                                     
Cape Town                                                                       
11 November 2004                                                                
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 11/11/2004 05:10:08 PM                   
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