Results of the private placement and listing on the Main Board of the JSE Tower Property Fund Limited (formerlyReftin 1004 Proprietary Limited) (Registration number 2012/066457/06) JSE share code: TWR ISIN number: ZAE000179040 (Approved as a REIT by the JSE) (“Tower” or the “company”) RESULTS OF THE PRIVATE PLACEMENT AND LISTING ON THE MAIN BOARD OF THE JSE Invited investors are referred to the company’s pre-listing statement issued on 12 July 2013 (“the pre-listing statement”) and to the announcement released on SENS on Friday, 12 July 2013 and in the press on Monday, 15 July 2013, which included the company’s abridged pre-listing statement (the “abridged pre- listing statement”), detailing anoffer by way of a private placement of Tower shares (“the private placement”)and the subsequent listing of Tower on the Main Board of the JSE Limited. An amount of R300 000 003.30 was successfully raised in terms of the private placement and 34 482 759 Tower shares were placed with invited investors under the private placement at R8.70 per share. Tower received binding subscription undertakings in an aggregate amount of R183 242 540.70 equating to 21 062 361 shares at R8.70per share under the private placement, including the subscription undertakings received prior to the opening of the private placement. The underwriter, Fortress Income 2 Proprietary Limited, will accordingly subscribe for 13 420 398 shares at R8.70 per share. Successful applicants will be advised of their allocation of Tower shares by no later than Thursday, 18 July 2013. The allocated private placement shares will be transferred to successful applications on a ‘delivery-versus- payment’ basis on the date of listing, being Friday, 19 July 2013. Accordingly 77 359 189 Tower shares will be listed on the Main Board of the JSE Limited with effect from the commencement of trade on the JSE on Friday, 19 July 2013 under the “Diversified REITs” sector. Tower shares will trade under the abbreviated name: “Tower”, JSE share code: “TWR” and ISINnumber: ZAE000179040. 17 July 2013 Corporate advisor, sponsor and bookrunner: Java Capital Independent transaction sponsor: Deloitte Date: 17/07/2013 04:37:00 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.