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Mon 28 Feb 2005, 14:18 Pangbourne - Dealing in securities by a director
Pangbourne - Dealing 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` or `the Company`)                                                 
Dealing in securities by a director                                             
In compliance with paragraph 3.63 to 3.74 of the JSE Securities Exchange South  
Africa Listing Requirements, the following information is disclosed:            
Name of director              :    Mr C M Hutchison                             
Date of transaction           :    25 February 2005                             
Number of combined units      :    150,000                                      
Class of security             :    Combined unit                                
Price per combined unit       :    R9.75                                        
Nature of the transaction     :    Allocation of units                          
in terms of executive unit purchase scheme                                      
Aggregate consideration       :    R 1,462,500                                  
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                                                                    
28 February 2005                                                                
Sponsor                                                                         
Standard Bank                                                                   
Date: 28/02/2005 01:21:03 PM                    
Produced by the JSE SENS Department
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