GRT - Growthpoint - Commercial Paper Issue

GRT - Growthpoint - Commercial Paper Issue                                      
Growthpoint Properties Limited                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1987/004988/06)                                            
Share code:  GRT  ISIN: ZAE000037669                                            
("Growthpoint" or "the Company")                                                
COMMERCIAL PAPER ISSUE                                                          
Growthpoint is pleased to announce that its R500 million inaugural senior       
unsecured Commercial Paper (CP) issue listed on the JSE Limited`s Bond          
Exchange has been well oversubscribed, with R1.5 billion of bids submitted.     
Growthpoint`s initial issue on the JSE, on 12 November 2009, of R360 million 3- 
month fixed notes and R140 million 6-month floating notes linked to the 3-      
month JIBAR (Johannesburg Inter Bank Agreed Rate) is a first for a South        
African listed property company.                                                
A total of 12 investors bid for the notes, resulting in significant demand and  
favourable pricing with a weighted average margin across the notes of 62 basis  
points                                                                          
Moody`s Investors Service recently assigned Growthpoint Global Scale long-term  
and short-term Issuer Ratings of Baa2 and P2 respectively and South African     
National Scale Ratings (NSR) of A1.za long-term and P-1.za short-term. Working  
with ratings adviser and sole lead arranger for Growthpoint`s CP issue, Absa    
Capital, the investment banking division of Absa Bank Limited, this is also     
the first time that a South African listed property company has deployed its    
corporate credit rating to issue CP.                                            
Growthpoint is the largest South African listed property company with local     
assets exceeding R29.2 billion and a market capitalisation of over R20          
billion. It has a portfolio of 438 retail, office and industrial properties,    
geographically diversified across South Africa producing gross revenues of      
over R3.5 billion. In September 2009 Growthpoint acquired a 76.2% interest in   
an Australian ASX listed property fund that has been rebranded as Growthpoint   
Properties Trust Australia. GPT Australia has a quality portfolio of 23         
warehousing and distribution properties valued at approximately AUD660          
million.                                                                        
Further details of the commercial paper issue referred to herein appear on      
Growthpoint`s web-site: www.growthpoint.co.za                                   
Date: 17 November 2009                                                          
Sponsor:                                                                        
Investec Bank Limited                                                           
Date: 17/11/2009 11:39:01 Supplied by www.sharenet.co.za                     
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