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ORE
 ORE                                                                             
Orion Real Estate Limited - Changes to the board of directors                   
ORION REAL ESTATE LIMITED                                                       
(Formerly Alpina Investments Limited)                                           
(Incorporated in the Republic of South Africa                                   
Registration number 1997/021085/06                                              
Share code: ORE & ISIN ZAE000075651                                             
("Orion")                                                                       
In compliance with rule 3.59 of the Listing Requirements of the                 
JSE Listing, the following information is disclosed:                            
Mr  M  K  Makhubalo resigned as a director of Orion Real Estate                 
Limited on 29 March 2006.                                                       
Chartered Secretaries                                                           
Company Secretary To Orion Real Estate Limited                                  
Clive D Kneale                                                                  
Corporate Governance Facilitators Cc                                            
Reg No. 2002/069802/23                                                          
Fax No:(011) 794 2710                                                           
P O Box 279                                                                     
Tel No:(011) 794 2348                                                           
Randpark Ridge                                                                  
2156, South Africa                                                              
E-Mail: Cdkneale@Mweb.Co.Za                                                     
Date: 29 March 2006                                                             
Date: 29/03/2006 03:08:03 PM Produced by the JSE SENS Department                
                                                                                
                                                                                

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