CAPITAL PROPERTY FUND - ACQUISITIONS - FULFILLMENT OF CONDITIONS PRECEDENT

CAPITAL PROPERTY FUND - ACQUISITIONS - FULFILLMENT OF CONDITIONS PRECEDENT      
CAPITAL PROPERTY FUND                                                           
("Capital")                                                                     
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)                                               
ACQUISITIONS - FULFILLMENT OF CONDITIONS PRECEDENT                              
Unitholders are referred to the announcement published on 23 August 2004 in     
terms of which unitholders were advised, inter alia, that agreements with       
Resilient Property Income Fund Limited, Old Mutual Life Assurance Company (South
Africa) Limited, The Standard Bank of South Africa Limited ("Standard Bank") and
Acucap Properties Limited (collectively the "acquisition agreements") were still
subject to the approval of the Competition Commission. In addition, the         
acquisition agreement in respect of the Standard Bank properties was subject to 
certain additional conditions precedent.                                        
Java Capital is authorised to announce that all conditions precedent with       
respect to the acquisition agreements have now been fulfilled. Capital will now 
proceed with the transfer of the properties into its name and the listing and   
issue of the units to the respective vendors.                                   
Johannesburg                                                                    
1 September 2004                                                                
Corporate advisor                                                               
Sponsor                                                                         
Java Capital (Proprietary) Limited                                              
Date: 01/09/2004 03:50:03 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department