EMI - Emira Property Fund - Closed period participatory interest repurchase

EMI - Emira Property Fund - Closed period participatory interest repurchase     
programme                                                                       
EMIRA PROPERTY FUND                                                             
(A property fund created under the Emira Property Scheme, registered in terms of
the Collective Investment Schemes Control Act No 45 of 2003)                    
Share Code: EMI                                                                 
ISIN: ZAE000050712                                                              
("Emira" or "the Fund")                                                         
CLOSED PERIOD PARTICIPATORY INTEREST REPURCHASE PROGRAMME                       
In compliance with the JSE Listings Requirements participatory interest ("PI")  
holders are advised that Emira has entered into a repurchase programme to       
repurchase PIs during its closed period. This period commences on 1 January 2012
and ends on 15 February 2012 when the Fund`s results are scheduled to be        
released.                                                                       
In terms of the repurchase programme, the broker has been mandated to repurchase
the Fund`s PIs in respect of up to a maximum value of R75,000,000.00. Any       
repurchases will be effected within certain pre-set parameters of the programme 
and the Listings Requirements of the JSE Limited.                               
Sandton                                                                         
30 December 2011                                                                
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 30/12/2011 12:10:01 Supplied by www.sharenet.co.za                     
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