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 the JSE Limited Listings Requirements, the following         
information is disclosed:                                                       
Director                      :    Thys Neser                                   
Company                       :    Strategic Real Estate Managers               
                                   (Pty) Limited - managers of Emira            
Propert Fund                                 

Nature of transaction         :    Purchase of Participatory Interests          
Class of securities           :    Ordinary Participatory Interests             
Date of transaction           :    10 November 2005                             
Number of securities          :    30 000                                       
Purchase price                :    R8.25                                        
Date of transaction           :    17 November 2005                             
Number of securities          :    10 000                                       
Purchase price                :    R8.25                                        
Total value of transactions   :    R330 000                                     
Nature and extent of                                                            
director"s interest           :    Indirect beneficial                          
Clearance obtained            :    Yes                                          
Sandton                                                                         
21 November 2005                                                                
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 21/11/2005 01:23:06 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department