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Tue 8 Mar 2005, 11:54 Directors Dealings In Securities
Freestone Property Holdings Limited - Directors Dealings In Securities          
Freestone Property Holdings Limited                                             
(Previously Arnold Property Fund Limited)                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 2001/011887/06)                                            
Share code: FSP ISIN: ZAE000060299                                              
(`Freestone` or `the company`)                                                  
DIRECTORS DEALINGS IN SECURITIES                                                
In compliance with section 3.63 to 3.65 of the JSE Securities Exchange South    
Africa Listings Requirements, the following information is disclosed:           
Name of director:                          R P S van der Bos                    
Date of transaction:                       4 March 2005                         
Number of securities:                      50 000                               
Price per security:                        500 cents per unit                   
Total value:                               R250 000                             
Class of securities:                       Linked units                         
Nature of transaction:                     Purchase                             
Nature and extent of director`s interest:  Indirect beneficial                  
Name of director:                          P J Thurling                         
Date of transaction                        7 March 2005                         
Number of securities:                      20 000                               
Price per security:                        505 cents per unit                   
Total value:                               R101 000                             
Class of securities:                       Linked units                         
Nature of transaction:                     Purchase                             
Nature and extent of director`s interest:  Direct beneficial                    
Clearance to deal was received in terms of paragraph 3.66 of the JSE Listings   
Requirements.                                                                   
Rosebank                                                                        
8 March 2005                                                                    
Sponsor                                                                         
Java Capital (Pty) Limited
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