Growthpoint - Fulfilment of the remaining condition precedent

Growthpoint - Fulfilment of the remaining condition precedent                   
GROWTHPOINT PROPERTIES LIMITED                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1987/004988/06)                                            
Share code: GRT         ISIN: ZAE000037669                                      
("Growthpoint" or "the company ")                                               
Fulfilment of the remaining condition precedent to the proposed                 
acquisition of a portfolio of properties from Tresso Trading 119                
(Proprietary) Limited                                                           
1.   INTRODUCTION                                                               
Growthpoint linked unitholders are referred to the announcement                 
published in the press on 23 March 2005 informing unitholders that the          
requisite majority of Growthpoint linked unitholders had passed the             
resolution necessary to approve the proposed acquisition of a                   
portfolio of properties ("the property portfolio") from Tresso Trading          
119 (Proprietary) Limited ("the proposed acquisition").                         
Implementation of the proposed acquisition has been subject to the              
approval by the Competition Authorities.                                        
2.   FULFILMENT OF CONDITION PRECEDENT                                          
Investec Bank Limited is authorised to announce that approval for the           
proposed acquisition was received from the Competition Tribunal on 17           
May 2005, and that the proposed acquisition will become effective from          
1 June 2005.                                                                    
The property portfolio will be transferred into the name of                     
Growthpoint as soon as practically possible.                                    
For and on behalf of the board                                                  
Growthpoint Properties Limited                                                  
Sandton                                                                         
18 May 2005                                                                     
Investment bank and joint sponsor                                               
Investec Corporate Finance                                                      
Lead sponsor                                                                    
E&Y                                                                             
Date: 18/05/2005 01:30:18 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department