CPL - Capital - Further Voluntary Announcement regarding Capital`s Expression of

CPL - Capital - Further Voluntary Announcement regarding Capital`s Expression of
interest in acquiring all the assets of SA Corporate and Renewal of Cautionary  
Announcement                                                                    
Capital Property Fund                                                           
("Capital")                                                                     
Share Code CPL   ISIN ZAE000001731                                              
(A portfolio in Capital Property Trust Scheme, a Collective Investment Scheme in
Property established in terms of the Collective Investment Schemes Control Act, 
No 45 of 2002)                                                                  
Managed by Property Fund Managers Limited (Registration No. 1980/009531/06)     
FURTHER VOLUNTARY ANNOUNCEMENT REGARDING CAPITAL`S EXPRESSION OF INTEREST IN    
ACQUIRING ALL THE ASSETS OF SA CORPORATE AND RENEWAL OF CAUTIONARY ANNOUNCEMENT 
Unitholders are referred to the Capital announcement published on SENS on 2 May 
2012.                                                                           
On 30 March 2012, when Capital formally advised SA Corporate Real Estate Fund   
("SAC") of Capital`s interest in acquiring all of the assets of SAC (the        
"envisaged acquisition"), Capital proposed an acquisition price that, on        
distribution to SAC unitholders, would equate to R3,37 per SAC unit representing
a premium of 5% to the closing market price of SAC units on 29 March 2012. The  
Capital proposal is subject inter alia to agreement between the relevant parties
on the cash amount that would be payable to the manager of SAC in compensation  
for its loss of asset management revenue in the event of the envisaged          
acquisition, which cash amount has been proposed at R250 million.               
Regarding settlement of the acquisition price, Capital envisages that each SAC  
unitholder should be afforded flexibility to receive such mix of cash or Capital
units at market price as is elected by the unitholder, provided that overall    
Capital settles approximately 50% of the acquisition price in cash.             
This announcement is made to position Capital to engage more fully with major   
SAC unitholders regarding the envisaged acquisition.                            
Capital`s unitholders are reminded to continue to exercise caution when dealing 
in Capital`s securities, pending further announcements.                         
4 June 2012                                                                     
Sponsor and corporate advisor                                                   
Java Capital                                                                    
Date: 04/06/2012 17:36:01 Supplied by www.sharenet.co.za                     
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