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CPL - Capital - Acquisition of Industrial Properties from Diversified and Acquisition of Siemens Office Park Capital Property Fund Share Code: CPL ISIN: ZAE000001731 ("Capital" or the "Fund") (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) ACQUISITION OF INDUSTRIAL PROPERTIES FROM DIVERSIFIED PROPERTY FUND LIMITED ("DIVERSIFIED") AND ACQUISITION OF SIEMENS OFFICE PARK INTRODUCTION Unitholders are advised that Capital has entered into an agreement to acquire six industrial properties for a total consideration of R138,9 million from Diversified. Further to this, Capital also entered into an agreement to acquire Siemens Office Park in Highveld Park, Centurion for R121 million. DETAILS AND RATIONALE FOR THE ACQUISITIONS The acquisition of the industrial properties and office park is in line with Capital`s strategy of focusing on offices and industrial properties. The purchase agreements for the six properties known as Burry Koen Street, Jet Park (10 028m2); Citrus Street, Laser Park (6 834m2); Cranberry Street, Laser Park (5 649m2); Director Road, Aeroport (5 216m2); Jet Park Mini Factories (9 197m2) and McCarthy, Isando (5 071m2) were entered into with Diversified Properties (Pty) Ltd and Diversified Properties 2 (Pty) Ltd and provide for an effective date of 1 June 2007. The acquisitions remain subject to Competition Commission approval. Capital`s directors are of the opinion that the purchase consideration represents the fair value of the properties. An independent valuation was performed by Quadrant Properties (Pty) Ltd, a professional valuer. The purchase agreement for Siemens Office Park (10 522m2)was entered into with Familiar Chat Investments (Pty) Ltd ("Familiar") with an effective date of 1 October 2007. Capital`s directors are of the opinion that the purchase consideration represents the fair value of the property. The average monthly rental income attributable to this industrial and office portfolio amounts to R36.45 per m2. CONSIDERATION AND FINANCIAL EFFECTS As consideration, Capital will issue 26 711 539 units and 23 269 231 units at R5.20 each to Diversified and Familiar respectively, on transfer of the properties. The acquisition has no significant effect on Capital`s net asset value per linked unit and tangible net asset value per linked unit as at 31 December 2006, and financial effects have therefore not been included. CATEGORISATION OF THE TRANSACTION The acquisition has been categorized as a category 3 transaction in terms of section 9.5(a) of the JSE Listings Requirements. Johannesburg 19 April 2007 Sponsor Java Capital (Proprietary) Limited Date: 19/04/2007 14:40:53 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.
