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Tue 7 Dec 2004, 16:28 Dealing In Linked Units By The Company Secretary
Acucap - Dealing In Linked Units By The Company Secretary                       
ACUCAP PROPERTIES LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 2001/021725/06)                                            
Share code:  ACP    ISIN:  ZAE000037651                                         
(`Acucap`)                                                                      
DEALING IN LINKED UNITS BY THE COMPANY SECRETARY                                
In terms of paragraph 3.63 - 3.65 of the Listings Requirements of the JSE       
Securities Exchange South Africa, the following information, relating to the    
dealing in securities by the company secretary, is disclosed:                   
Company secretary:                 Baden Marlow                                 
Company:                           Acucap                                       
Date of transaction:               7 December 2004                              
Number of linked units purchased:  7 000                                        
Price purchased at:                R14.70 per linked unit                       
Value of transaction:              R102 900                                     
Extent of interest:                Direct beneficial                            
Share class:                       Linked units                                 
Nature of transaction:             Open market purchase                         
Written clearance to deal obtained:Yes                                          
Cape Town                                                                       
7 December 2004                                                                 
Sponsor                                                                         
Nedbank Capital
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