HOSPITALITY PROPERTY FUND LIMITED - Changes to the board of directors

Changes to the board of directors

HOSPITALITY PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/014211/06)
Share code for A linked units: HPA
ISIN for A linked units: ZAE000076790
Share code of B linked units: HPB
ISIN for B linked units: ZAE000076808
(“Hospitality” or “the Fund”)

CHANGES TO THE BOARD OF DIRECTORS

In accordance with Section 3.59 of the Listings Requirements of
the JSE Limited, in respect of a change to the Board of
Directors (“the board”), Hospitality is pleased to announce to
its unitholders that Mr Don Bowden will take up the position of
Chairman from Mr Willy Ross, who assumed the role of Acting
Chairman following Mr Frank Berkeley’s resignation in February
2012.

The board would like to thank Mr Ross for his leadership and
support during his time as Acting Chairman.

As previously advised on 20 February 2013, Mr Gerald Nelson
retired as Chief Executive Officer (“CEO”) from the Fund and
remains on the board as a non-executive director. Mr Andrew
Rogers (previously the deputy CEO of the Fund) has taken up the
position of CEO. He will be assisted by Mr Ridwaan Asmal in his
continuing role as Financial Director.

Unitholders are further advised that Mr Syd Halliday and Mrs
Anitha Soni have been appointed as Independent Non-Executive
Directors to the board.

Mr Halliday (CAIB (SA); ACIS) retired from Nedbank in 2004. He
held various senior credit risk management positions in the
property finance departments of Nefic, Syfrets, Nedcor
Investment Bank and Nedbank. He served as the Independent
Chairman of Nedbank Corporate Property Finance’s main property
lending committee up to December 2012. Mr Halliday has over 30
years’ experience as a lending banker.

Mrs Anitha Soni graduated in Hotel Management in 1978 and
thereafter underwent her Business and Leadership Development
through Cornell University and Arthur D Little in the USA.

Mrs Soni was the Chairman of Brand South Africa. She served on a
number of Tourism Boards and has assisted in the re-direction of
national tourism strategy within the context of post-apartheid
South Africa - included SA Tourism, Tourism KwaZulu Natal,
Tourism Durban, BrandSA, and the Hospitality Industry Training
Board, now CATSSETA. She is currently involved in development
consulting and, the promotion of business linkages between
Africa and Trade and Investment countries within the African
continent and the BRICS member countries.

Further to the restructure of its board, Hospitality has
reconstituted its sub-committees as follows:

Audit          Remuneration    Nomination   Social &    Investment
Committee      Committee       Committee    Ethics      Committee
                                            Committee
Linda de       Willy Ross      Don Bowden   Zuko        Willy Ross
Beer           (Chair)         (Chair)      Kubukeli    (Chair)
(Chair)                                     (Chair)
Kamil          Don Bowden      Linda de     Ridwaan     Kamil
Abdul-                         Beer         Asmal       Abdul-
Karrim                                                  Karrim
Syd            Gerald Nelson   Zuko         Anitha      Syd
Halliday                       Kubukeli     Soni        Halliday
Willy Ross                     Gerald                   Zuko
                               Nelson                   Kubukeli
                                                        Gerald
                                                        Nelson
                                                        Andrew
                                                        Rogers

The above changes are all effective from 30 June 2013.

Johannesburg
3 July 2013

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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