GRT - Growthpoint - Results Announcement Regarding the Capital Raising of R1.742

GRT - Growthpoint - Results Announcement Regarding the Capital Raising of R1.742
                   Billion by Way of a Renounceable Rights Offer                
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")                                                
RESULTS ANNOUNCEMENT REGARDING THE CAPITAL RAISING OF R1.742 BILLION BY WAY OF A
RENOUNCEABLE RIGHTS OFFER ("THE RIGHTS OFFER")                                  
Further to the circular to Growthpoint linked unitholders posted on Monday, 5   
January 2009 regarding a renounceable Rights Offer of 128 092 620 linked units  
at an issue price of 1360 cents per linked unit in the ratio of 10 rights offer 
units ("Rights Offer Units") for every 100 linked units held ("Rights Offer     
Circular"), Investec is authorised to announce that 131 715 585 linked units    
were subscribed for by linked unitholders, which consisted of -                 
1    125 478 550 linked units in terms of linked unitholders` pro rata          
    entitlement based on their existing unitholding; and                        
2    excess applications for 6 237 035 linked units ("Excess Applications").    
In terms of paragraph 4.8 of the Rights Offer Circular, Rights Offer Units in   
excess of Growthpoint linked unitholders` pro rata entitlement could only be    
allocated to Growthpoint linked unitholders after Investec Bank Limited as the  
underwriter ("the Underwriter") had taken up the 73 529 391 allocated           
underwritten linked units it subscribed for, and as such the demand for Excess  
Applications could not be met. Consequently, 2 614 070 Rights Offer Units have  
been allocated to the Underwriter.                                              
Linked unit certificates will be mailed to certificated linked unitholders today
and, in respect of dematerialised linked unitholders, the number of linked units
will today be credited directly to the relevant CSDP or broker.                 
Linked unitholders who applied for Excess Applications will be refunded the     
funds in respect of the excess applications on Wednesday, 4 February 2009.      
2 February 2009                                                                 
Sandton                                                                         
Investment Bank                                                                 
Investec Corporate Finance                                                      
Transactional Sponsor                                                           
BJM Corporate Finance                                                           
Sponsor                                                                         
Investec Bank Limited                                                           
Attorneys                                                                       
Glyn Marais Inc                                                                 
Date: 02/02/2009 16:36:01 Supplied by www.sharenet.co.za                     
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