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Thu 22 Feb 2007, 16:37 PAP - Pangbourne - Cautionary announcement
PAP
 PAP                                                                             
PAP - Pangbourne - Cautionary announcement                                      
PANGBOURNE PROPERTIES LIMITED                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1987/002352/06)                                           
Share code: PAP & ISIN: ZAE000005252                                            
("Pangbourne" or "the company")                                                 
CAUTIONARY ANNOUNCEMENT                                                         
Holders of Pangbourne combined units ("unitholders") are advised that Pangbourne
has entered into negotiations, which, if successfully concluded, may have a     
material effect on the price at which the securities of the company trade.      
Accordingly, unitholders are advised to exercise caution when dealing in their  
Pangbourne combined units until a further announcement is made.                 
Unitholders are further advised that this cautionary announcement is not related
to the joint cautionary announcement released on 19 January 2007 with Calulo    
Property Fund Limited.                                                          
Johannesburg                                                                    
22 February 2007                                                                
Sponsor                                                                         
Standard Bank                                                                   
Date: 22/02/2007 16:37:43 Produced by the JSE SENS Department.
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