VKE - Vukile Property Fund Limited - Change to the board of directors

VKE - Vukile Property Fund Limited - Change to the board of directors           
Vukile Property Fund Limited                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 2002/027194/06)                                            
ISIN: ZAE000056370                                                              
JSE Share code: VKE                                                             
NSX Share code: VKN                                                             
("Vukile" or "the company")                                                     
CHANGE TO THE BOARD OF DIRECTORS                                                
In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, the 
following information is disclosed:                                             
Unitholders are advised that Mr Laurence Rapp has been appointed as executive   
director and Chief Executive Officer ("CEO") of Vukile with effect from 1 August
2011.  Mr Rapp`s appointment follows Mr Gerhard van Zyl`s resignation announced 
on 28 May 2010 which was effective on 31 March 2011.  Mr van Zyl`s term was     
extended with the company, by mutual agreement with the board, until a new CEO  
was appointed.  Mr van Zyl leaves Vukile at the end of July 2011.               
Laurence Rapp has extensive experience in the financial services environment,   
spanning investment banking, private equity, retail banking and insurance and   
asset management.  For the past nine years, he has been a director of Standard  
Bank, most recently as the head of the Insurance and Asset Management division  
and, prior to that, in charge of the Strategic Investments and Alliances        
division.  The board welcomes the opportunity to have an executive with his     
experience leading Vukile.                                                      
The board wishes to express its sincere appreciation to Mr van Zyl as a director
and chief executive in particular for his efforts and contribution to Vukile`s  
success.                                                                        
Roodepoort                                                                      
26 May 2011                                                                     
JSE sponsor:  One Capital                                                       
NSX sponsor:  IJG Securities (Pty) Ltd                                          
Date: 26/05/2011 10:00:01 Supplied by www.sharenet.co.za                     
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