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Mon 6 Dec 2004, 15:59 Dealings In Securities By A Director
Pangbourne - Dealings In Securities By A Director                               
PANGBOURNE PROPERTIES LIMITED                                                   
Incorporated in the Republic of South Africa                                    
(Registration number 1987/002352/06)                                            
Share code: PAP                                                                 
ISIN:       ZAE000005252                                                        
(`Pangbourne`)                                                                  
Dealing in securities by a director                                             
In compliance with paragraphs 3.63 to 3.74 of the Listing Requirements of the   
JSE Securities Exchange South Africa (`the JSE`), the following information is  
disclosed:                                                                      
Name of director              :    A J W L Richards                             
Date of transaction           :    3 December 2004                              
Number of combined units      :    58 162                                       
Class of security             :    Combined unit                                
Price per combined unit       :    R8.60                                        
Nature of the transaction     :    Sale of combined units to repay executive    
                                   unit purchase share trust loan               
Aggregate consideration       :    R500 193                                     
Director`s interest           :    Direct, beneficial                           
Name of director              :    A J W L Richards                             
Date of transaction           :    3 December 2004                              
Number of combined units      :    6 450                                        
Class of security             :    Combined unit                                
Price per combined unit       :    R8.58                                        
Nature of the transaction     :    Sale of combined units to repay executive    
                                   unit purchase share trust loan               
Aggregate consideration       :    R55 341                                      
Director`s interest           :    Direct, beneficial                           
Name of director              :    A J W L Richards                             
Date of transaction           :    3 December 2004                              
Number of combined units      :    32 250                                       
Class of security             :    Combined unit                                
Price per combined unit       :    R8.55                                        
Nature of the transaction     :    Sale of combined units to repay executive    
unit purchase share trust loan               
Aggregate consideration       :    R275 738                                     
Director`s interest           :    Direct, beneficial                           
Clearance to deal in these combined units has been obtained in accordance with  
Pangbourne`s policy with regard to directors` dealings as well as the Listings  
Requirements of the JSE.                                                        
Johannesburg                                                                    
6 December 2004                                                                 
Sponsor                                                                         
Standard Bank
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