VUKILE PROPERTY FUND LIMITED - Vukile to acquire 50% of East Rand Mall

Vukile to acquire 50% of East Rand Mall

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” or “the company”)


VUKILE TO ACQUIRE 50% OF EAST RAND MALL


Johannesburg, 1 November 2012 – Vukile Property Fund today
announced it is to acquire a 50% share in the East Rand Mall
in Gauteng for a consideration of R1.115 billion, subject to
the negotiation of formal legal agreements and Competition
Commission approval.   The other half will be acquired by
Redefine Properties.

The East Rand Mall, valued at a total of R2.23 billion, is one
of the leading shopping centres in the Gauteng province.
Vukile chief executive Laurence Rapp said the acquisition was
in line with the company’s strategy of aggressively growing
its portfolio with a special emphasis on the retail sector.
He said a detailed terms announcement would be made once the
formal agreement had been signed and that the company’s
results for the six months ended 30 September, due out on 23
November,   would  contain  the   financial  effects   of  the
acquisition.


For further information contact Laurence Rapp, CEO Vukile
Property Fund Limited, on 083 266 3011.

Issued by du Plessis Associates on behalf of Vukile Property
Fund Limited.
dPA contact Helen McKane Tel : +27 11 728 4701,Fax: +27 11 728
2547, Mobile: 082 330 2034 or e-mail: vukile@dpapr.com
website: www.vukile.co.za

Johannesburg
1 November 2012

Merchant bank and transaction sponsor: RAND MERCHANT BANK (A
division of FirstRand Bank Limited)
NSX sponsor: IJG Securities (Pty) Ltd

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