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Tue 22 Nov 2005, 10:43 Vukile / MICC - Joint cautionary announcement
Vukile / MICC - Joint cautionary announcement                                   
Vukile Property Fund Limited                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 2002/027194/06)                                            
Share code: VKE & ISIN: ZAE000056370                                            
("Vukile")                                                                      
MICC Property Income Fund Limited                                               
Incorporated in the Republic of South Africa                                    
(Registration number 2003/013404/06)                                            
South African share code: MCP Namibian share code: MCO ISIN: ZAE000050175       
("MICC")                                                                        
("the companies")                                                               
JOINT CAUTIONARY ANNOUNCEMENT                                                   
Vukile and MICC unitholders are advised that the companies have entered into    
negotiations regarding the acquisition by Vukile of the linked units in MICC    
which it does not already hold, such that on conclusion of the proposed         
transaction Vukile will hold 100% of MICC"s issued capital. If the negotiations 
are successfully concluded, they may have an effect on the price of the         
companies" linked units.  Accordingly, unitholders are advised to exercise      
caution when dealing in the companies" linked units until a further announcement
is made.                                                                        
Johannesburg                                                                    
22 November 2005                                                                
Corporate advisor and Sponsor to Vukile:                                        
Bridge Capital Services (Proprietary) Limited                                   
Sponsor to MICC:                                                                
Bridge Capital Services (Proprietary) Limited                                   
Namibian sponsor to MICC:                                                       
Irwin, Jacobs, Greene (Pty) Limited, Member of the NSX                          
Date: 22/11/2005 10:43:17 AM Produced by the JSE SENS Department                
                                                                                
                                                                                
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