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ACP
 ACP                                                                             
Acucap Properties Limited - Cautionary Announcement                             
ACUCAP PROPERTIES LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 2001/021725/06)                                            
Share code:  ACP      ISIN:  ZAE000037651                                       
("Acucap" or "the Company")                                                     
CAUTIONARY ANNOUNCEMENT                                                         
Linked unitholders are advised that Acucap has entered into negotiations which, 
if successfully concluded, may have a material effect on the price of the       
Company"s securities. Accordingly, linked unitholders are advised to exercise   
caution when dealing in the Company"s securities until a further announcement is
made.                                                                           
Cape Town                                                                       
23 December 2005                                                                
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 23/12/2005 07:00:26 AM Produced by the JSE SENS Department                
                                                                                
                                                                                

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