Capital Property Fund - Directors Dealings In Units

Capital Property Fund - Directors Dealings In Units                             
Capital Property Fund                                                           
("Capital" or the "Fund")                                                       
Share Code:  CPL                                                                
ISIN: ZAE000001731                                                              
(A Portfolio in Capital Property Trust Scheme, a Collective Investment Scheme in
Property established in terms of the Collective Investment Schemes Control Act, 
No 45 of 2002 managed by Property Fund Managers Limited ("PFM"))                
(Incorporated in the Republic of South Africa)                                  
(Registration No. 1980/009531/06)                                               
DIRECTOR"S DEALINGS IN UNITS                                                    
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, the       
following information is disclosed:                                             
1. Director                      :    Jonathan Rens                             
   Number of units               :    50 000                                    
Price per unit                :    R2,80                                     
   Value of the transaction      :    R140 000                                  
   Date of transaction           :    22 November 2004                          
   Nature of transaction         :    Open market purchase                      
Nature of interest            :    Indirect beneficial -  Beneficiary of John
                                      Rens Family Trust (IT 7711/98)            
Clearance to deal in compliance with paragraph 3.66 of the JSE Listings         
Requirements has been obtained.                                                 
23 November 2004                                                                
Sponsor                                                                         
Java Capital (Pty) Ltd                                                          
Date: 23/11/2004 02:46:07 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department