Update and renewal of cautionary announcement Fountainhead Property Trust A Collective Investment Scheme in property registered in terms of the Collective Investment Schemes Control Act, No. 45 of 2002 and managed by Fountainhead Property Trust Management Limited (Registration No. 1983/003324/06) Share Code: FPT ISIN Code: ZAE000097416 ("Fountainhead”) Update and renewal of cautionary announcement Unitholders of Fountainhead (“Unitholders”) are referred to the cautionary announcement released on the Securities Exchange News Service ("SENS") on 23 October 2012 by Growthpoint Properties Limited ("Growthpoint "), which sets out details relating to an unsolicited offer received by the directors of Fountainhead Property Trust Management Limited (“Fountainhead Manco”) from Growthpoint to acquire all of the assets of Fountainhead in return for a combination of cash and Growthpoint units (“the Growthpoint proposal”). Unitholders are further referred to the Fountainhead cautionary announcement released on SENS on 1 October 2012 relating to the unsolicited proposal received from Redefine Properties Limited (“Redefine”) to acquire the majority of the assets of Fountainhead in return for a combination of Redefine and Hyprop Limited units (“the Redefine proposal”) (jointly, the Growthpoint proposal and the Redefine proposal are referred to as “the Proposals”). As set out in the cautionary announcement of 1 October 2012, the Board of Fountainhead Manco will consider the Proposals received. There are a number of regulatory and commercial issues to be finalised before Fountainhead Manco can revert to Unitholders in relation to the relative merits of the Proposals. Unitholders are accordingly advised to continue to exercise caution when trading in their Fountainhead units until a further announcement is made. 24 October 2012 Merchant bank and transaction sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Legal Advisor Bowman Gilfillan Inc. Date: 24/10/2012 02:08:00 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.