OASIS CRESCENT PROPERTY FUND - Update on activity of the fund

Update on activity of the fund

Oasis Crescent Property Fund
A property fund created under the Oasis Crescent Trust Scheme registered
in terms of the Collective Schemes Control Act (Act 45 of 2002)
JSE code: OAS
ISIN: ZAE000074332
(“OCPF” or “the Fund”)

UPDATE ON ACTIVITY OF THE FUND

THE RIDGE @ SHALLCROSS

The directors of Oasis Crescent Property Fund Managers Limited (“the
Manager”), the management company of the Fund hereby advise that
Checkers, the anchor tenant of the major retail property in the Fund,
The Ridge @ Shallcross, are expanding their premises from approximately
4,500 to approximately 7,000 square meters.      They are upgrading the
entire store to a new generation Checkers Hyper and entering into a new
long term lease.     The success of this store has led to their major
investment taking place.    At the same centre, we have entered into an
agreement with another national tenant to build a specific purpose unit
for them with floor area of 1,320 square meters and yard of 600 square
meters.   Combined, these developments will greatly enhance the centre.

REFURBISHMENT

The Fund has committed to a process of significant refurbishment of the
industrial properties within the Fund.       At the properties of both
Nourse Avenue and Sacks Circle the Fund is undertaking the major project
of replacing the roofs with insulated zinc aluminium as part of the
refurbishment.   This is in-line with the Fund’s policy of ensuring that
all assets are kept in excellent condition, meeting the requirements of
world class tenants.


OUTLOOK

These positive developments are in line with our efforts to protect and
enhance the assets in the Fund’s portfolio and the Fund’s objective to
provide unitholders with consistent and high quality performance from
the Fund.

By order of the board of the Manager
Cape Town
21 September 2012

Designated Adviser
PSG Capital

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