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ORE
 ORE                                                                             
Orion Real Estate Limited - Withdrawal of Cautionary Announcement               
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")                                                                       
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT                                           
Linked unit holders are referred to the cautionary announcement dated 28 March  
2006 and 10 May 2006 and are advised that the negotiations referred to therein  
have ceased.  Caution is no longer required to be exercised by linked unit      
holders when dealing in their securities.                                       
Sponsor                                                                         
Imara Corporate Finance                                                         
Corporate advisor                                                               
Bishop Corporate Finance                                                        
10 July 2006                                                                    
Date: 10/07/2006 12:48:05 PM Produced by the JSE SENS Department                
                                                                                
                                                                                

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