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PRA
 PRA                                                                             
Paramount Property Fund Limited - Cautionary Announcement                       
PARAMOUNT PROPERTY FUND LIMITED                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1945/019928/06)                                            
Share code:  PRA                                                                
ISIN:   ZAE000028577                                                            
("Paramount" or "the Company")                                                  
CAUTIONARY ANNOUNCEMENT                                                         
Linked unitholders are advised that the Paramount Board is aware of discussions 
that are currently taking place, 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                                                                       
7 June 2006                                                                     
Investment Bank and Sponsor                                                     
Nedbank Capital                                                                 
Date: 07/06/2006 03:29:04 PM Produced by the JSE SENS Department                
                                                                                
                                                                                

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