VUNANI PROPERTY INVESTMENT FUND LTD - Trading Statement

Trading Statement

VUNANI PROPERTY INVESTMENT FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/019302/06)
JSE code: VPF
ISIN: ZAE000157459
(“the company” or “VPIF”)

TRADING STATEMENT

In terms of paragraph 3.4(b)(vii) of the JSE Limited Listings
Requirements, property companies are required to publish a trading
statement as soon as they are reasonably certain that the
distribution for the period to be reported on next will differ by
at least 15% from the distribution for the previous corresponding
period.

Accordingly, linked unit holders are advised that the company
anticipates that the distribution per linked unit for the 6 months
ending 31 December 2012 will be between 36.00 cents and 38.00
cents. For the 20 week period since listing to 31 December 2011,
VPIF paid a distribution of 27.00 cents per linked unit (30.54
cents per linked unit for the 6 months ended 31 December 2011).

The increased distribution is a result of tight management of
existing assets and yield accretionary acquisitions. Management
believes these factors will continue to have an enduring and
sustainable impact on future distributions.

The financial information on which this trading statement is based
has not been reviewed or reported on by the company’s auditors.

The company’s financial results for the 6 months ending 31 December
2012 will be released on or about 25 February 2013.


Sandton
3 December 2012

Sponsor
Grindrod Bank Limited

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