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Thu 14 Apr 2005, 16:07 Dealing in securities by a director
Pangbourne Properties Limited - Directors Dealings                              
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                :    14 April 2005                           
Number of combined units           :    80,000                                  
Class of security                  :    Combined unit                           
Price per combined unit            :    R9.62                                   
Nature of the transaction          :    Sale of units to repay executive unit   
                                        purchase share trust loan               
Aggregate consideration            :    R 769 980,50                            
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                                                                    
14 April 2005                                                                   
Sponsor                                                                         
Standard Bank                                                                   
Date: 14/04/2005 04:00:11 PM       
Produced by the JSE SENS Department
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