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Wed 11 Oct 2006, 12:05 Spearhead - Withdrawal of cautionary announcement
SPE
 SPE                                                                             
     Spearhead - Withdrawal of cautionary announcement                          
     Spearhead Property Holdings Limited                                        
     (Incorporated in the Republic of South Africa)                             
(Registration number 1996/005827/06)                                       
     ("Spearhead" or "the company")                                             
     Share code: SPE ISIN: ZAE000019162                                         
     Withdrawal of cautionary announcement                                      
Further to the firm intention to make an offer announcement published      
     jointly by Redefine Income Fund Limited ("Redefine") and Spearhead on 26   
     July 2006, as the detailed terms and conditions of Redefine"s offer to     
     acquire 100% of the linked units of Spearhead have been announced,         
unitholders are no longer required to exercise caution when dealing in the 
     company"s linked units.                                                    
     Cape Town                                                                  
     11 October 2006                                                            
Corporate Advisor and Sponsor: Bridge Capital Services (Pty) Limited       
Date: 11/10/2006 12:05:05 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
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