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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        
     shareholders" discussions that are currently taking place, which may have  
     an effect on the price at which the Company"s securities trade on the JSE  
Ltd.                                                                       
     Linked unitholders are accordingly advised to exercise caution when dealing
     in the Company"s securities until a further announcement is made.          
     Cape Town                                                                  
6 October 2006                                                             
     Investment Bank and Sponsor                                                
     Nedbank Capital                                                            
Date: 06/10/2006 09:35:02 AM Produced by the JSE SENS Department                
                                                                                
                                                                                

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