HPA - Hospitality Property Fund Limited - Resignation of chairman

HPA - Hospitality Property Fund Limited - Resignation of chairman               
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 group")                                                  
RESIGNATION OF CHAIRMAN                                                         
Unitholders were advised in the cautionary released on 23 January 2012 that     
Hospitality was in discussions with Absa Bank Limited ("Absa") and other        
funders regarding the re-financing of the group`s current debt facility with    
Absa of approximately R1.35 billion.                                            
Nedbank Limited ("Nedbank") has been approached by Hospitality to consider      
material additional funding to the group.                                       
Given that Mr Frank Berkeley, Hospitality`s Independent Chairman is employed    
by Nedbank and in order to prevent any perceived conflicts of interest in       
considering Hospitality`s funding request, Mr Berkeley has under the            
circumstances tendered his resignation from Hospitality`s board with            
immediate effect.                                                               
The board is most grateful to Frank for his valuable leadership and             
contribution during his tenure as director and Chairman.                        
Johannesburg                                                                    
15 February 2012                                                                
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 15/02/2012 17:21:20 Supplied by www.sharenet.co.za                     
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