VKE - Vukile Property Fund - Further announcement regarding the acquisition of

VKE - Vukile Property Fund - Further announcement regarding the acquisition of  
the property known as Giyani Plaza                                              
Vukile Property Fund Limited                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 2002/027194/06)                                            
JSE Share code: VKE    ISIN: ZAE000056370                                       
NSX Share code: VKN                                                             
("Vukile" or "the company")                                                     
FURTHER ANNOUNCEMENT REGARDING THE ACQUISITION OF THE PROPERTY KNOWN AS GIYANI  
PLAZA                                                                           
Vukile linked unitholders are referred to the announcement published on SENS    
on 11 April 2011 regarding the acquisition of Giyani Plaza ("the Property")     
from Sanlam Life Insurance Limited for a total purchase price of R68.25         
million ("the Acquisition").                                                    
The Acquisition is a "small related party" transaction in terms of the JSE      
Limited Listings Requirements and the company therefore appointed an            
independent registered valuer, Quadrant Properties (Proprietary) Limited ("the  
Valuer") to ascribe a value to the Property. The Valuer has valued the          
Property at an amount of R69.20 million as at 1 August 2011 and the valuation   
report is available for inspection at Vukile`s registered office for a period   
of 28 days from the date of this announcement.                                  
Based on the value of the Property arrived at by the Valuer, the directors of   
Vukile are of the opinion that the terms and conditions of the acquisition are  
fair to Vukile linked unitholders.                                              
Johannesburg                                                                    
5 May 2011                                                                      
JSE sponsor: One Capital                                                        
NSX sponsor: IJG Securities (Proprietary) Limited                               
Date: 05/05/2011 16:56:11 Supplied by www.sharenet.co.za                     
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