GRT - Growthpoint - Amendment To Growthpoint Renounceable Rights Offer ("The

GRT - Growthpoint - Amendment To Growthpoint Renounceable Rights Offer ("The    
Rights Offer") Announcement                                                     
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")                                                
AMENDMENT TO GROWTHPOINT RENOUNCEABLE RIGHTS OFFER ("THE RIGHTS OFFER")         
ANNOUNCEMENT                                                                    
Growthpoint linked unitholders are referred to the announcement released on the 
Securities Exchange News Service on Thursday, 4 December 2008 and in the press  
on Friday, 5 December 2008 relating to the Rights Offer.                        
A resolution placing a portion of the authorised but unissued linked units under
the control of the Growthpoint Directors was approved at the annual general     
meeting of linked unitholders, held on Wednesday, 5 November 2008. This         
resolution is open to interpretation as to whether it only permits a maximum of 
10% of the currently issued linked units to be issued as new linked units in    
circumstances such as those for the current Rights Offer which includes both an 
upfront claw back portion and a subsequent issue.                               
In order to address any concerns arising therefrom the maximum size of the      
Rights Offer has been reduced from R2 billion to approximately R1.742 billion.  
As a result 128 092 620 new Growthpoint linked units ("Rights Offer Units") will
be offered at a price of 1360 cents per linked unit in the ratio of 10 Rights   
Offer Units for every 100 Growthpoint linked units currently in issue.          
Save for this change all other terms of the Rights Offer remain unchanged.      
5 December 2008                                                                 
Sandton                                                                         
Investment Bank                                                                 
Investec Corporate Finance                                                      
Transactional Sponsor                                                           
Barnard Jacobs Mellet Corporate Finance                                         
Sponsor                                                                         
Investec Bank Limited                                                           
Attorneys                                                                       
Glyn Marais Inc                                                                 
Date: 05/12/2008 17:21:16 Supplied by www.sharenet.co.za                     
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