SYC - Results of General Meeting SYCOM PROPERTY FUND A Collective Investment Scheme in Property ("CISP") registered in terms of the Collective Investment Schemes Control Act, No. 45 of 2002 and managed by Sycom Property Fund Managers Limited ("SPFM") (Registration number 1986/002756/06) JSE Share code: SYC ISIN: ZAE000019303 ("Sycom” or the “Fund”) (Granted REIT status by the JSE, effective 1 April 2013) RESULTS OF GENERAL MEETING 1. INTRODUCTION In announcements published on the Stock Exchange News Service of the JSE Limited ("SENS") on 28 March 2013, 31 May 2013 and 14 June 2013, and in the South African Press on 2 April 2013, 3 June 2013 and 18 June 2013, respectively, holders of participatory interests(“Units”) in Sycom ("Unitholders") were advised of – (i) the proposed acquisition of the remaining 50% of the Somerset Mall Shopping Centre not already held by Sycom from AECI Pension Fund; (ii) the conclusion of an agreement with Hyprop Investments Limited ("Hyprop") in respect of various matters, including the disposal of the Somerset Mall Shopping Centre to Hyprop, and (iii) a specific repurchase of Sycom participatory interests from Hyprop; collectively (the ”Transactions”). A circular incorporating details of the Transactions and the notice of the general meeting was posted to all Unitholders on 14 June 2013. 2. RESULTS OF THE GENERAL MEETING Unitholders are advised that the ordinary and special resolutions tabled at the general meeting to approve the Transactions were passed, with 99.9% of those Unitholders voting on the resolutions, voting in favour. Accordingly Sycom will (i) acquire the remaining 50% of the Somerset Mall Shopping Centre not already held by Sycom from AECI Pension Fund for a purchase consideration of R1.15 billion and (ii) dispose of the Somerset Mall Shopping Centre to Hyprop for a total consideration of R2.3 billion discharged by the specific repurchase of 81 500 000 Sycom Units from Hyprop. Cape Town 16 July 2013 Sponsor, Corporate Advisor and Investment Bank Absa Bank Limited (acting through its Corporate and Investment Banking Division) Legal advisor DLA Cliffe Dekker Hofmeyr Date: 16/07/2013 04:56:00 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.