EMI - Emira Property Fund - Dealing In Securities By Directors

EMI - Emira Property Fund - Dealing In Securities By Directors                  
EMIRA PROPERTY FUND                                                             
A property fund created under the Emira Property Scheme, registered in terms of 
the Collective Investment 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                      :    Warren Kirkwood Schultze                     
Company                       :    Emira Property Fund                          
Date of transaction           :    2 April 2007                                 
Class of securities           :    Ordinary participatory interests             
(PIs)                                                                           
Nature of transaction         :    PIs received/acquired as a result            
                                  of the recent offer by Emira to acquire all   
the issued linked units of Freestone Property 

                                  Holdings Limited                              
Number of securities          :    90 000                                       
Price                         :    R10.88                                       
Total value of transaction    :    R979 200                                     
Nature and extent of                                                            
director`s interest           :    Indirect beneficial                          
Clearance obtained            :    Yes                                          
Sandton                                                                         
23 April 2007                                                                   
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 23/04/2007 16:01:26 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.