EMI - Emira Property Fund - Change to the Board of directors

    EMI - Emira Property Fund - Change to the Board of directors                
                                                                                
    Emira Property Fund                                                         
A property fund created under the Emira Property Scheme, registered in      
    terms of the Collective Investment Schemes Control Act                      
    Share Code: EMI                                                             
    ISIN ZAE000050712                                                           
("Emira")                                                                   
                                                                                
    CHANGE TO THE BOARD OF DIRECTORS                                            
    Shareholders are advised of the following changes to the board of Strategic 
Real Estate Managers (Pty) Ltd, the authorised management company of Emira, 
    with immediate effect:                                                      
    -    Leon Basson has resigned as a non-executive director, with immediate   
         effect;                                                                
-    Claire Middlemiss has resigned as the company secretary; and           
    -    Desiree Isserow has been appointed to fulfil the company secretary     
         role.                                                                  
    Johannesburg                                                                
6 June 2007                                                                 
                                                                                
    Sponsor                                                                     
    RAND MERCHANT BANK (A division of FirstRand Bank Limited)                   
Date: 06/06/2007 16:10:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.