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Wed 30 Aug 2006, 17:08 Calulo Property Fund Limited - Trading Statement
CLO
 CLO                                                                             
Calulo Property Fund Limited - Trading Statement                                
CALULO PROPERTY FUND LIMITED                                                    
(Formerly Annuity Property Fund Limited)                                        
(Incorporated in the Republic of South Africa)                                  
(Registration Number 1987/006274/06)                                            
Share code:  CLO & ISIN: ZAE000060711                                           
("Calulo" or "the company")                                                     
TRADING STATEMENT                                                               
In terms of the Listings Requirements of the JSE Limited relating to trading    
statements, a listed property company is required to publish a trading statement
as soon as it becomes aware that the financial results for the next period to be
reported on will differ by at least 15% or more from those of the previous      
corresponding period. Because of the fundamental changes that took place in the 
company"s portfolio subsequent to the financial year ended 30 June 2005,        
comparisons are not considered meaningful.                                      
Calulo accordingly advises unitholders that;                                    
-    earnings per linked unit for the year ended 30 June 2006 are expected to be
     between 89,0 and 93,0 cents, and                                           
-    headline earnings per linked unit for the year ended 30 June 2006 are      
expected to be between 34,0 and 38,0 cents.                                
The results include the impact of International Financial Reporting Standards,  
which have for the first time been used in preparing the results.               
The information in this trading statement has not been reviewed or reported on  
by the company"s auditors. The year end results announcement is expected to be  
published later this week.                                                      
Cape Town                                                                       
30 August 2006                                                                  
Sponsor                                                                         
Sasfin Capital                                                                  
A division of Sasfin Bank Limited                                               
Date: 30/08/2006 05:08:03 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
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