Growthpoint Properties Limited - Results Of General Meeting

Growthpoint Properties Limited - Results Of General Meeting                     
Growthpoint Properties Limited                                                  
   (Incorporated in the Republic of South Africa)                               
(Registration number 1987/004988/06)                                         
   Share code: GRT   ISIN: ZAE000037669                                         
   ("Growthpoint")                                                              
RESULTS OF GENERAL MEETING                                                      
Investec Bank Limited is authorised to announce that a general meeting of    
Growthpoint linked unitholders was held on Wednesday, 9 July 2003 ("the general 
meeting") to consider the ordinary resolutions relating to:                     
   - the proposed merger of the business of Growthpoint with that of Primegro   
Properties Limited ("Primegro") ("the proposed merger");                        
   - the issue of additional Growthpoint linked units to partly fund the        
proposed merger ("the additional Growthpoint linked units"); and                
   - the granting of authority to the board of directors of Growthpoint ("the   
Growthpoint board") to allot and issue all or any of the linked units in the    
linked unit capital of Growthpoint for cash, subject to the Listings            
Requirements of the JSE Securities Exchange South Africa ("the JSE"),           
(collectively, "the resolutions").                                              
Growthpoint linked unitholders representing in excess of 97,7% of Growthpoint
linked unitholders present at the general meeting voted in favour of the        
resolutions.                                                                    
   The proposed merger is still conditional upon, inter alia, approval by the   
competition authorities ("the remaining suspensive conditions").                
Subject to the conclusion of the proposed merger and in addition to the 184,7   
million new Growthpoint linked units to be issued to Primegro in terms of the   
proposed merger, Growthpoint will issue 94,3 million additional Growthpoint     
linked units, representing the maximum amount authorised by Growthpoint linked  
unitholders in terms of the resolutions.                                        
   A further announcement will be made by Growthpoint once the remaining        
suspensive conditions have been fulfilled. Such announcement will also include  
details of the anticipated listing date of the additional Growthpoint linked    
units on the JSE.                                                               
   Sandton                                                                      
   9 July 2003                                                                  
Investment bank                                                                 
  Investec Corporate Finance                                                    
  Investec Bank Limited                                                         
  (Registration number 1969/004763/06)                                          
Legal adviser                                                                   
  Fluxmans Attorneys                                                            
  Website: www.fluxmans.com                                                     
  Fluxmans Inc. Registration No: 2000/024775/21                                 
Debenture trustee                                                               
  Bell Dewar Hall                                                               
Sponsor                                                                         
  Investec Bank Limited                                                         
(Registration number 1969/004763/06)                                          
Date: 09/07/2003 05:44:03 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department