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Fri 4 Mar 2005, 16:06 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                   :    A J W L Richards                        
Date of transaction                :    03 March 2005                           
Number of combined units           :    150 000                                 
Class of security                  :    Combined unit                           
Price per combined unit            :    R10.00                                  
Nature of the transaction          :    Sale of units to repay executive unit   
                                        purchase share trust loan               
Aggregate consideration            :    R 1,500,000                             
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                                                                    
04 March 2005                                                                   
Sponsor                                                                         
Standard Bank                                                                   
Date: 04/03/2005 04:00:06 PM                 
Produced by the JSE SENS Department
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