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Martprop Property Fund - Cautionary Announcement                                
MARTPROP PROPERTY FUND                                                          
a collective investment scheme in property shares established in terms of the   
Collective Investment Schemes Control Act No. 45 of 2002, and managed by        
Marriott Property Fund Managers Limited (Registration number 1994/009895/06)    
JSE code: MTP                                                                   
ISIN code: ZAE000037271                                                         
CAUTIONARY ANNOUNCEMENT                                                         
Unitholders are advised that Martprop has entered into negotiations, which if   
successfully concluded, may have an effect on the price of the Fund`s           
securities. Accordingly, unitholders are advised to exercise caution when       
dealing in the Fund`s securities until a full announcement is made.             
Durban                                                                          
24 March 2005                                                                   
SPONSOR                                                                         
EXCHANGE SPONSORS (PTY) LIMITED                                                 
(Registration number: 1999/024433/07)

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