Update on activity of the fund Oasis Crescent Property Fund A property fund created under the Oasis Crescent Trust Scheme registered in terms of the Collective Schemes Control Act (Act 45 of 2002) JSE code: OAS ISIN: ZAE000074332 (“OCPF” or “the Fund”) UPDATE ON ACTIVITY OF THE FUND THE RIDGE @ SHALLCROSS The directors of Oasis Crescent Property Fund Managers Limited (“the Manager”), the management company of the Fund hereby advise that Checkers, the anchor tenant of the major retail property in the Fund, The Ridge @ Shallcross, are expanding their premises from approximately 4,500 to approximately 7,000 square meters. They are upgrading the entire store to a new generation Checkers Hyper and entering into a new long term lease. The success of this store has led to their major investment taking place. At the same centre, we have entered into an agreement with another national tenant to build a specific purpose unit for them with floor area of 1,320 square meters and yard of 600 square meters. Combined, these developments will greatly enhance the centre. REFURBISHMENT The Fund has committed to a process of significant refurbishment of the industrial properties within the Fund. At the properties of both Nourse Avenue and Sacks Circle the Fund is undertaking the major project of replacing the roofs with insulated zinc aluminium as part of the refurbishment. This is in-line with the Fund’s policy of ensuring that all assets are kept in excellent condition, meeting the requirements of world class tenants. OUTLOOK These positive developments are in line with our efforts to protect and enhance the assets in the Fund’s portfolio and the Fund’s objective to provide unitholders with consistent and high quality performance from the Fund. By order of the board of the Manager Cape Town 21 September 2012 Designated Adviser PSG Capital Date: 21/09/2012 03:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.