SA CORPORATE REAL ESTATE FUND - Resignation of Chairman and appointment of Chief Operating Officer

Resignation of Chairman and appointment of Chief Operating Officer

SA Corporate Real Estate Fund
(Incorporated in the Republic of South Africa)
A Collective Investment Scheme in property registered in
terms of the Collective Investment Schemes Control Act,
No. 45 of 2002 and managed by SA Corporate Real Estate
Fund Managers Limited (Registration number
1994/009895/06)
Share Code: SAC               ISIN Code: ZAE000083614
("SA Corporate" or "the Fund" or “the company”)

Resignation of Chairman and appointment of Chief
Operating Officer

1.     Resignation of Chairman

       In compliance with rule 3.59 of the JSE Limited
       Listings Requirements, SA Corporate unitholders are
       advised that Mr Kevin Roman has resigned as Chairman
       and director of SA Corporate Real Estate Fund
       Managers Limited, SA Corporate's management company,
       with immediate effect. Mr Roman would like to devote
       more time to his other property interests. The Board
       of SA Corporate would like to express its
       appreciation to Kevin for the exemplary way in which
       he has led the company during his tenure as Chairman
       and would like to wish him all the best with his
       ventures.

       The Fund is pleased to announce that Mr John
       Biesman-Simons, currently a non-executive director
       of SA Corporate, has agreed to stand in as Chairman
       with immediate effect until a permanent appointment
       is made. The Remuneration and Nomination Committee
       of the Board will immediately embark on a process to
       appoint a new Chairman.

       As a result of his temporary appointment as
       Chairman, Mr Biesman-Simons will also step down as
       Chairman of the Risk, Audit and Compliance Committee
       with immediate effect. Mr Ebrahim Seedat, currently
       an independent non-executive director of SA
       Corporate, will be appointed as Acting Chairman of
       the aforementioned committee with immediate effect.

     2. Appointment of Chief Operating Officer

       As part of the process of strengthening the
       management team of SA Corporate, Mr Rory Mackey has
       been appointed as the Chief Operating Officer (COO)
       and Alternate Director to Mr Gerhard van Zyl,
       Managing Director of SA Corporate. Mr Mackey has
       gained extensive experience in the property
       industry, particularly during the seven years when
       he was responsible for ACSA’s retail, office and
       industrial property interests. He is currently a
       senior investment executive in Old Mutual Investment
       Group’s infrastructure investment business and will
       join SA Corporate with effect from 1 August 2012.
       His appointment as alternate director is also
       effective 1 August 2012 and subject to the required
       regulatory approvals being obtained.


Cape Town
25 July 2012

Sponsor
Nedbank Capital

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