GROWTHPOINT PROPERTIES LIMITED - OFFER TO ACQUIRE A PORTFOLIO OF PROPERTIES FROM

GROWTHPOINT PROPERTIES LIMITED - OFFER TO ACQUIRE A PORTFOLIO OF PROPERTIES FROM
THE LYONS CORPORATE LEASE FUND LIMITED ("LCLF"), A SUBSIDIARY COMPANY OF LYONS  
FINANCIAL SOLUTIONS HOLDINGS LIMITED ("LYONS") AND CAUTIONARY ANNOUNCEMENT      
Growthpoint Properties Limited                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1987/004988/06)                                            
Share code: GRT     ISIN: ZAE000037669                                          
("Growthpoint")                                                                 
Offer to acquire a portfolio of properties from the Lyons Corporate Lease       
Fund Limited ("LCLF"), a subsidiary company of Lyons Financial Solutions        
Holdings Limited ("Lyons") and cautionary announcement                          
Investec Bank Limited is authorised to announce that Growthpoint has            
submitted an offer to the board of directors of Lyons to acquire a portfolio    
of properties owned by the LCLF, a subsidiary company of Lyons, subject to a    
number of suspensive conditions being fulfilled ("the proposed acquisition").   
An announcement containing the detailed terms of the proposed acquisition       
("the detailed terms announcement") will be published in the press in due       
course. Accordingly, Growthpoint linked unitholders are advised to exercise     
caution when dealing in their Growthpoint linked units until such time as the   
detailed terms announcement has been published.                                 
Sandton                                                                         
26 March 2004                                                                   
Merchant bank                                                                   
Investec Corporate Finance                                                   
   Investec Bank Limited                                                        
  (Registration number 1969/004763/06)                                          
Sponsor                                                                         
Investec Securities Limited                                                  
   Member of the JSE                                                            
  (Registration number. 1972/008905/06)                                         
Date: 26/03/2004 05:25:15 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department