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Fri 18 Feb 2005, 13:34 CHANGE OF AUDITORS
Paraprop - Results of Annual General Meeting and change of auditors             
PARAMOUNT PROPERTY FUND LIMITED                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1945/019928/06)                                            
Share code:  PRA                                                                
ISIN:   ZAE000028577                                                            
(`Paraprop`)                                                                    
RESULTS OF ANNUAL GENERAL MEETING AND CHANGE OF AUDITORS                        
Shareholders are advised that, at the annual general meeting of Paraprop held at
the Conference Centre, Master Builders Association, Belmont Road, Rondebosch,   
7700 today, all the resolutions were passed by the requisite majority of        
shareholders.                                                                   
In terms of resolution 5, Ernst & Young were appointed as auditors for the      
ensuing financial year.                                                         
Cape Town                                                                       
18 February 2005                                                                
Investment Bank and Sponsor                                                     
Nedbank Capital                                                                 
Date: 18/02/2005 12:14:02 PM           
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