HPA/HPB - Hospitality Property Fund Limited - Acquisition of the Westin Grand

HPA/HPB - Hospitality Property Fund Limited - Acquisition of the Westin Grand   
Hotel and Arabella Western Cape Hotel and Spa - fulfilment / waiver of          
outstanding conditions precedent                                                
Hospitality Property Fund Limited                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number 2005/014211/06)                                            
Share code for A-linked units: HPA                                              
ISIN for A-linked units: ZAE000076790                                           
Share code for B-linked units: HPB                                              
ISIN for B-linked units: ZAE000076808                                           
("Hospitality")                                                                 
ACQUISITION OF THE WESTIN GRAND HOTEL AND ARABELLA WESTERN CAPE HOTEL AND SPA   
- FULFILMENT / WAIVER OF OUTSTANDING CONDITIONS PRECEDENT                       
As previously announced on SENS and in the press, at a special general          
meeting held on 12 November 2010, Hospitality unitholders approved all the      
resolutions required to implement the proposed acquisition ("the Acquistion")   
by HPF Properties (Pty) Limited ("HPF Properties"), a subsidiary of             
Hospitality, from Arabella South Africa Holding (Proprietary) Limited and its   
subsidiaries of the property letting and hotel businesses carried on by them    
under the name of The Westin Grand Cape Town Arabella Quays Hotel and the       
Arabella Western Cape Hotel and Spa ("AWCHS") together with certain             
properties which includes 460 hectares of undeveloped land adjoining AWCHS.     
All the conditions precedent to the Acquisition have now been fulfilled or      
waived.                                                                         
HPF Properties is expected to take transfer towards the beginning of May        
2011.                                                                           
6 April 2011                                                                    
Sponsor                                                                         
RAND MERCHANT BANK (a division of FirstRand Bank Limited)                       
Legal advisor to Hospitality                                                    
Cliffe Dekker Hofmeyr Inc                                                       
Date: 06/04/2011 15:06:01 Supplied by www.sharenet.co.za                     
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