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ACP
 ACP                                                                             
Acucap - Cautionary announcement                                                
Acucap Properties Limited                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 2001/021725/06)                                            
Share code:  ACP      ISIN:  ZAE000037651                                       
("Acucap" or "the Company")                                                     
CAUTIONARY ANNOUNCEMENT                                                         
Linked unitholders are advised that Acucap has entered into negotiations 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                                                                       
20 October 2006                                                                 
Investment Bank and Sponsor                                                     
Nedbank Capital                                                                 
Date: 20/10/2006 08:26:05 AM Produced by the JSE SENS Department                
                                                                                
                                                                                

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