Emira Property Fund - Dealing In Participartory Interests By Director

Emira Property Fund - Dealing In Participartory Interests By Director           
EMIRA PROPERTY FUND                                                             
(Registered in terms of the Collective Investments Schemes Control Act No 45 of 
2003)                                                                           
ISIN: ZAE000050712                                                              
Share Code: EMI                                                                 
In compliance with rule 3.63 - 3.74 of the JSE Securities Exchange South Africa 
Listings Requirements, the following information is disclosed:                  
Director                           :    James Templeton                         
Company                            :    Emira Property Fund                     
Date of transaction                :    10 September 2004                       
Nature of transaction              :    Purchase of Participatory Interests     
Number of securities               :    89,800                                  
Class of securities                :    Ordinary Participatory Interests        
Purchase price                     :    R5.5494                                 
Total value of transaction         :    R498,340                                
Nature and extent of                                                            
director"s interest                :    Direct beneficial                       
Clearance obtained                 :    Yes                                     
Sandton                                                                         
10 September 2004                                                               
SPONSOR                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
CORPORATE FINANCE                                                               
Date: 13/09/2004 08:51:03 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department