Capital Property Fund - Appointment Of Director

Capital Property Fund - Appointment Of Director                                 
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)                                               
APPOINTMENT OF DIRECTOR                                                         
In accordance with Section 3.59 of the JSE Securities Exchange South Africa     
Listings Requirements, unitholders are advised that Mr Andries De Lange has been
appointed to the board of Property Fund Managers Limited as financial director  
with effect from 21 February 2005.                                              
Mr De Lange has the following qualifications: BComm Accounting; CTA; CA (SA);   
and CFA. Mr De Lange completed his articles at Moores Rowland (then Coetzee     
Johnson) in 1996.  Between 1997 and 2001 Mr De Lange held the positions of      
business analyst, account manager and then senior account manager at the        
Industrial Development Corporation of South Africa Limited ("IDC"). Mr De Lange 
also spent 3 years in Private Equity and Group Capital Management with Nedbank  
before joining Property Fund Managers in a finance function in July 2004.       
Rosebank                                                                        
21 February 2005                                                                
Sponsor                                                                         
Java Capital (Proprietary) Limited                                              
Date: 21/02/2005 04:13:01 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department