SAC - SA Corporate Real Estate Fund - Resignation and appointment to the Board

SAC - SA Corporate Real Estate Fund - Resignation and appointment to the Board  
of Directors and further update to cautionary announcement                      
SA Corporate Real Estate Fund                                                   
(Incorporated in the Republic of South Africa)                                  
A Collective Investment Scheme in property registered in terms of the Collective
Investment Schemes Control Act, No. 45 of 2002 and managed by SA Corporate      
Real Estate Fund Managers Limited (Registration number 1994/009895/06)          
Share Code: SAC ISIN Code: ZAE000083614                                         
("SA Corporate" or "the Fund")                                                  
Resignation and appointment to the Board of Directors and further update to     
cautionary announcement                                                         
Resignation and appointment to the Board of Directors                           
In compliance with rule 3.59 of the JSE Limited Listings Requirements, SA       
Corporate unitholders are advised that Mr Len van Niekerk has resigned as       
Managing Director of  SA Corporate Real Estate Fund Managers Limited, SA        
Corporate`s management company, with immediate effect. Len has decided to pursue
other opportunities.                                                            
SA Corporate is pleased to announce that they have secured the services of Mr   
Gerhard van Zyl, former CEO of Vukile Property Fund Limited, to lead SA         
Corporate.                                                                      
Mr Van Zyl`s appointment as Managing Director of SA Corporate will be effective 
from 1 June 2012 subject to the required regulatory approvals being obtained.   
Further update to cautionary announcement                                       
SA Corporate unitholders are further referred to the announcements released on  
SENS on 25 April and 8 May 2012 and informed that SA Corporate has formed an    
independent sub-committee of the board of directors to assess the approach from 
Capital Property Fund, to which they will revert in due course. Accordingly,    
unitholders are advised to continue to exercise caution when trading in the     
Fund`s units until a further announcement has been made.                        
Cape Town                                                                       
14 May 2012                                                                     
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 14/05/2012 16:04:01 Supplied by www.sharenet.co.za                     
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