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Tue 1 Feb 2005, 16:07 Acquisition of property letting enterprises from H
Freestone - Acquisition of property letting enterprises from Hyprop Investments 
            Limited - Fulfillment of condition precedent                        
FREESTONE PROPERTY HOLDINGS LIMITED                                             
(Incorporated in the Republic of South Africa)                                  
(Registration No. 2001/011887/06)                                               
(Previously Arnold Property Fund Limited)                                       
Share code: FSP    ISIN code: ZAE000060299                                      
(`Freestone` or `the company`)                                                  
ACQUISITION OF PROPERTY LETTING ENTERPRISES FROM HYPROP INVESTMENTS LIMITED     
(`HYPROP`) - FULFILLMENT OF CONDITION PRECEDENT                                 
Further to the announcement dated 10 January 2005, Java Capital is authorised to
announce that Freestone has received the unconditional approval from the        
Competition Authorities for the acquisition of the property letting enterprises 
from Hyprop.                                                                    
Freestone can now commence transferring the property letting enterprises into   
its name.                                                                       
Sandton                                                                         
1 February 2005                                                                 
Corporate advisor, legal advisor and sponsor to Freestone                       
Java Capital (Proprietary) Limited
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