VKE - Vukile Property Fund Limited - Fulfilment of conditions precedent

VKE - Vukile Property Fund Limited - Fulfilment of conditions precedent         
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")                                                                      
FULFILMENT OF CONDITIONS PRECEDENT                                              
Holders of Vukile linked units ("Vukile Linked Unitholders") are referred to    
the circular issued by Vukile on 31 January 2012 and the following              
announcements released on SENS:                                                 
*    the general meeting results announcement released on 29 February 2012;     
*    the fulfilment of conditions precedent and early distribution              
    announcement released on 9 March 2012;                                      
*    the early distribution declaration for the six months ended 31 March       
    2012 announcement released on 16 March 2012;                                
*    the reduction of the vendor placement size announcement released on 30     
    March 2012; and                                                             
*    the vendor placement of Vukile linked units and the vendor placement       
    results announcements released on 11 April 2012.                            
The above all relate to the acquisition by Vukile of 20 properties from         
Sanlam Life Insurance Limited and the issue and allotment of Vukile linked      
units as part consideration for the acquisition in terms of a vendor            
placement (the "Transaction").                                                  
Vukile Linked Unitholders are advised that all conditions precedent to the      
Transaction have now been fulfilled and that the property transfers have        
been effected.                                                                  
Johannesburg                                                                    
26 April 2012                                                                   
Merchant bank and transaction sponsor                                           
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 26/04/2012 16:17:01 Supplied by www.sharenet.co.za                     
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