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Mon 10 Jan 2005, 10:02 DEALING IN SECURITIES BY A DIRECTOR
SYCOM PROPERTY FUND - DEALING IN SECURITIES BY A 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                                                              
DEALING IN SECURITIES BY A DIRECTOR                                             
In compliance with section 3.63 to 3.65 of the JSE Securities Exchange South    
Africa Listings Requirements, the following information is disclosed:           
Director                      F M Berkeley                                      
Company of which a director   Sycom Property Fund Managers Limited, the         
                              management company of Sycom                       
Class of securities           Sycom units                                       
Transaction date              7 January 2005                                    
Price                         R13.10 per unit                                   
Number of securities          40 000 units                                      
Total value                   R524 000                                          
Nature of transactions        Open market purchase                              
Extent of interest            Direct beneficial                                 
Clearance to deal obtained    Yes                                               
Johannesburg                                                                    
10 January 2005                                                                 
Sponsor                                                                         
Nedbank Capital
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