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Mon 27 Feb 2006, 16:28 Spearhead Property Holdings Limited - Directors de
SPE
 SPE                                                                             
Spearhead Property Holdings Limited - Director"s 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:                 D Wilder                                      
Date of transaction:              27 February 2006                              
Price per linked unit:            2200 cents                                    
Number of linked units:           20 000                                        
Total value:                      R440 000                                      
Class of securities:              Linked units                                  
Nature of transaction:            Purchase in terms of vendor placing           
Extent of interest:               Indirect and beneficial                       
Clearance was given                                                             
Name of director:                 M Flax                                        
Date of transaction:              22 February 2006                              
Price per linked unit:            3295 cents                                    
Number of linked units:           23 386                                        
Total value:                      R770 568.70                                   
Class of securities:              Linked units                                  
Nature of transaction:            Sales                                         
Extent of interest:               Indirect and beneficial                       
Clearance was given                                                             
Name of director:                 M Flax                                        
Date of transaction:              23 February 2006                              
Price per linked unit:            3220 cents                                    
Number of linked units:           100 000                                       
Total value:                      R3 220 000                                    
Class of securities:              Linked units                                  
Nature of transaction:            Sales                                         
Extent of interest:               Indirect and beneficial                       
Clearance was given                                                             
Name of director:                 M Flax                                        
Date of transaction:              24 February 2006                              
Price per linked unit:            3220 cents                                    
Number of linked units:           10 000                                        
Total value:                      R322 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 04:28:57 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
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