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Mon 27 Feb 2006, 16:23 Spearhead Property Holdings Limited - Directors De
SPE
 SPE                                                                             
Spearhead Property Holdings Limited - Directors" Dealings                       
SPEARHEAD PROPERTY HOLDINGS LIMITED                                             
Incorporated in the Republic of South Africa                                    
(Registration number: 1996/005827/06)                                           
Share code: SPE ISIN: ZAE000019162                                              
DIRECTORS" DEALINGS                                                             
In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of the   
JSE Limited, the following information is disclosed:                            
Name of director:        M Flax                                                 
Date of transaction:     27 February 2006                                       
Price per linked unit:   3250 cents                                             
Number of linked units:  90 000                                                 
Total value:             R2 925 000                                             
Class of securities:     Linked units                                           
Nature of transaction:   Sales                                                  
Extent of interest:      Indirect and beneficial                                
Clearance was given                                                             
27 February 2006                                                                
Johannesburg                                                                    
Sponsor: Bridge Capital Services (Pty) Limited                                  
Date: 27/02/2006 04:23:24 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
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