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GRT - Growthpoint - Acquisition by Growthpoint or its nominee of and the

Release Date: 18/10/2007 09:55
Code(s): GRT
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GRT - Growthpoint - Acquisition by Growthpoint or its nominee of and the adoption of the proposed staff incentive scheme 18 October 2007 - Growthpoint Properties Limited - Fulfilment of final condition precedent Growthpoint Properties Limited (Incorporated in the Republic of South Africa) Registration number 1987/004988/06 JSE share code: GRT ISIN: ZAE000037669 ("Growthpoint" or "the Company") ACQUISITION BY GROWTHPOINT PROPERTIES LIMITED OR ITS NOMINEE OF THE PROPERTY SERVICES BUSINESSES OF INVESTEC PROPERTY GROUP LTD ("IPG") AND THE ADOPTION OF THE PROPOSED STAFF INCENTIVE SCHEME The Competition Tribunal yesterday morning approved the above acquisition subject to the removal of certain restraint terms and extension provisions in the agreements governing the acquisition. Growthpoint and IPG have agreed to remove the terms restricting Growthpoint entering into property development transactions and IPG establishing a competing property administration and property asset management business. Accordingly, Growthpoint linked unitholders are hereby informed that the acquisition and the implementation of the staff incentive scheme are now unconditional and will be implemented in accordance with the other terms as set out in the circular distributed to linked unitholders on 6 August 2007. Sandton 18 October 2007 Independent Expert Ernst & Young Advisory Services Limited (Registration number 2006/018260/06) Lead Sponsor Ernst & Young Sponsors (Proprietary) Limited (Registration number 2000/031843/07) Joint Sponsor Investec Bank Limited (Registration number 1969/004763/06) Attorneys Jowell Glyn & Marais Inc (Registration number 2001/020379/21) Independent Reporting Accountants KPMG Inc (Registration number 1999/021543/21) Independent advisors and attorneys to the AMU Trust and Phatsima Properties (Proprietary) Limited Fluxmans Inc (Registration number 2000/024775/21) Date: 18/10/2007 09:55:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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