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Growthpoint - Declaration of special interim distribution for the four months ended 31 October 2006 Growthpoint Properties Limited (Incorporated in the Republic of South Africa) (Registration number 1987/004988/06) Share code: GRT ISIN ZAE000037669 ("Growthpoint") DECLARATION OF SPECIAL INTERIM DISTRIBUTION FOR THE FOUR MONTHS ENDED 31 OCTOBER 2006 1 Introduction Further to the joint announcement released on the Securities Exchange News Service of the JSE Limited on 20 October 2006, regarding the mandatory offer by Growthpoint to acquire all the linked units of Paramount Property Fund Limited ("Paramount"),other than those already held by Growthpoint ("the offer"), in terms of Section 440 of the Companies Act, 1973 (Act 61 of 1973), as amended, it was announced that Growthpoint would pay an interim distribution to align its distribution period with that of Paramount. 2 Payment of special interim distribution It is anticipated that Paramount"s next distribution for the quarter ended 31 October 2006 will be paid on or about 2 January 2007. To ensure that Growthpoint and Paramount linked units both trade "cum" and "ex- distribution" for the same periods, Growthpoint will pay a special interim distribution to its linked unitholders for the 4 months ended 31 October 2006, to match Paramount"s quarterly distribution for the period ended 31 October 2006. Thereafter, Growthpoint will align the timing of its distributions with that of Paramount during the period of the offer. At the expiry of the offer, Growthpoint will revert to paying half-yearly distributions. In accordance with the above, notice is hereby given of the interim distribution for the four months ended 31 October 2006, comprising interim dividend number 40 of 0.03 cents per share and debenture interest payment of number 40 of 29.97 cents per debenture, totalling 30.00 cents per linked unit. This represents a 15,07% increase ,on a pro-rata basis, over the distribution of 39.10 cents per linked unit in respect of the six-months ended 31 December 2005. 3 Timetable for the special interim distribution The distribution of 30.00 cents per linked unit will be payable to Growthpoint linked unitholders in accordance with the abbreviated timetable set out below: Last day to trade "cum" dividend and interest Wednesday, 20 December 2006 Linked units trade "ex" distribution Thursday, 21 December 2006 Record date Friday, 29 December 2006 Payment date Tuesday, 02 January 2007 No dematerialisation or rematerialisation of Growthpoint linked unit certificates may take place between Wednesday, 20 December 2006 and Friday, 29 December 2006, both days inclusive. By order of the board R Krabbenhoft Company Secretary 6 December 2006 Investment bank and sponsor to Growthpoint Investec Bank Limited Date: 06/12/2006 10:58:05 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department
