INVESTEC PROPERTY FUND LIMITED - Changes to the Board of Directors

Changes to the Board of Directors

INVESTEC PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Reg. No: 2008/011366/06)
Approved as a REIT by the JSE
Share Code: IPF
ISIN: ZAE000180915
("Investec Property Fund" or "the Fund")



CHANGES TO THE BOARD OF DIRECTORS


Shareholders are advised that David Alexander Jon Donald, having served as Financial Director of the
Fund since its listing, has retired with effect from 17 August 2015.

With the retirement of David, the Board is pleased to announce the appointment of Andrew Robert Wooler
to the Board as Financial Director with effect from 17 August 2015.

Andrew (33) has been part of the Fund’s executive management team since joining Investec in August 2012
when the Fund had R2bn of assets. Prior to this, Andrew spent 8 years in the UK where he qualified as a
chartered accountant with BDO Stoy Hayward. Post qualification, Andrew worked for a boutique corporate
advisory firm in London and later headed up the team at Caesars Entertainment UK that was responsible
for driving profitability and rolling out new business opportunities across the EMEA region.

The Board wishes to express their gratitude towards David for his contribution to the Fund and are pleased
to welcome Andrew and look forward to benefiting from his continued contribution to the growth of the Fund.

Investec Property Fund Limited
Johannesburg

18 August 2015

Sponsor: Investec Bank Limited

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