GRT - Growthpoint Properties Limited - Results of distribution Re-investment

GRT - Growthpoint Properties Limited - Results of distribution Re-investment    
alternative, Vendor Placing and confirmation of Holding in Growthpoint          
Properties Australia                                                            
Growthpoint Properties Limited                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1987/004988/06)                                            
Linked unit code: GRT     ISIN ZAE000037669                                     
("Growthpoint")                                                                 
RESULTS OF DISTRIBUTION RE-INVESTMENT ALTERNATIVE, VENDOR PLACING AND           
CONFIRMATION OF HOLDING IN GROWTHPOINT PROPERTIES AUSTRALIA                     
Linked unitholders are referred to the announcements released on the Securities 
Exchange News Service ("SENS") on 26 August 2009 and 4 September 2009 relating  
to the declaration and finalisation of the final cash distribution of 58.3 cents
("Cash Distribution") per Growthpoint linked unit and distribution re-investment
alternative ("Linked Unit Alternative").                                        
Linked unitholders holding 926 355 706 Growthpoint linked units or 65.7% of     
Growthpoint linked units qualifying to receive the distribution elected to      
receive the Linked Unit Alternative, resulting in the issue of 41 865 537 new   
units, raising approximately R540 million in new equity for Growthpoint.        
Accordingly, a Cash Distribution of R280 494 172 was paid in respect of 481 122 
079 Growthpoint linked units.  Distribution cheques and linked unit certificates
in respect of the new linked units were posted to certificated linked           
unitholders at their risk and the Central Securities Depository Participant or  
broker custody accounts of dematerialised linked unitholders were credited      
today.                                                                          
Growthpoint linked unitholders are further referred to the announcements        
released on the SENS on 18 May 2009, 25 June 2009, 30 July 2009 and 14 September
2009 relating to the proposed acquisition by Growthpoint of a controlling       
interest in Growthpoint Properties Australia ("GOZ"), previously known as       
Orchard Industrial Property Fund Limited ("Proposed Acquisition"), as well as   
the Growthpoint vendor placing relating to the funding thereof.                 
The various phases of the Proposed Acquisition, including the initial upfront   
subscription, management internalisation and the rights issue underwritten by   
Growthpoint have now been completed resulting in Growthpoint owning 76% of GOZ, 
following acceptances by 7.6% of the minorities in the GOZ rights issue.        
Growthpoint`s initial minimum investment in GOZ was increased to R1.265 billion 
following the final outcome of the GOZ rights offer and as a result Growthpoint 
increased the size of the initial vendor placement from R989 million to R1.265  
billion. The vendor placing will result in the issue of 96 637 572 new linked   
units at a weighted average issue price of R13.09.                              
Growthpoint has therefore collectively raised R1.8 billion from the Linked Unit 
Alternative and vendor placing.                                                 
21 September 2009                                                               
Financial adviser and sponsor to Growthpoint                                    
Investec Corporate Finance                                                      
Legal adviser to Growthpoint in South Africa                                    
Glyn Marais                                                                     
Date: 21/09/2009 16:23:01 Supplied by www.sharenet.co.za                     
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