GROWTHPOINT PROPERTIES LIMITED - REVISION ANNOUNCEMENT

GROWTHPOINT PROPERTIES LIMITED - REVISION ANNOUNCEMENT                          
Growthpoint Properties Limited                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1987/004988/06)                                            
Share code: GRT ISIN: ZAE000037669                                              
("Growthpoint")                                                                 
Revision announcement                                                           
1. INTRODUCTION                                                                 
Growthpoint linked unitholders are referred to the announcement  published by   
Growthpoint on Monday, 13 December 2004 ("the prior announcement"), in terms of 
which Growthpoint proposed to acquire ("the proposed acquisition") a portfolio  
of properties from Tresso Trading 119 (Proprietary) Limited ("the Tresso        
property portfolio") for an aggregate purchase consideration of R1 080 million. 
The unaudited Pro forma financial effects after the proposed acquisition as     
disclosed in the prior announcement were 30,11 cents, 72,28 cents and 67,40     
cents for headline earnings, earnings and distribution per Growthpoint linked   
unit respectively for the year ended 30 June 2004.  The unaudited pro forma     
financial effects have been revised to include income from one property forming 
part of the Tresso property portfolio, which previously was erroneously omitted.
2. REVISED UNAUDITED PRO FORMA FINANCIAL EFFECTS                                
                                Published   Pro      Increase/                  
                                Before (1)  forma    (decrease)                 
     Per Growthpoint linked     (cents)     after    (%)                        
unit                                   (cents)                             
     Headline earnings          29,13       31.95    9.7                        
     Earnings                   74,80       74,49    (0.4)                      
     Distribution               69,00       69,10    0.1                        
(1)  The figures reflected in the "Published Before" column are the figures     
based on the audited results of Growthpoint for the 12-months ended 30 June     
2004, published in the press on 25 August 2004.                                 
The table above sets out the unaudited pro forma financial effects of the       
proposed acquisition, before any costs relating thereto, on the headline        
earnings, earnings and distribution per Growthpoint linked unit based on the    
assumptions set out in paragraph 4 of the prior announcement.                   
The unaudited pro forma financial effects set out in the table above are        
prepared for illustrative purposes only and may not give a true reflection of   
the anticipated benefits of the proposed acquisition.                           
Sandton                                                                         
12 January 2005                                                                 
Lead sponsor      Joint sponsor                                            
     (Ernst & Young )  (Investec Bank Limited)                                  
Date: 12/01/2005 02:00:15 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department