Update of cautionary announcement SA Corporate Real Estate Fund A Collective Investment Scheme in Property registered in terms of the Collective Investment Schemes Control Act, No. 45 of 2002 and managed by SA Corporate Real Estate Fund Managers Limited (Registration number 1994/009895/06) ("SA Corporate Fund Managers") Share Code: SAC ISIN Code: ZAE000083614 ("SA Corporate" or "the Fund") REIT status approved UPDATE OF CAUTIONARY ANNOUNCEMENT 1. Acquisition of Property Further to the cautionary announcement dated 26 August 2013, unitholders are advised that SA Corporate will not be pursuing the acquisition of a property that would have constituted a category 2 transaction in terms of JSE Listings Requirements. 2. Proposed internalisation of management of the Fund Further to the cautionary announcement dated 22 February 2013 and the subsequent renewals dated 10 April 2013, 23 May 2013, 4 July 2013 and 26 August 2013, unitholders are further advised that discussions between SA Corporate Fund Managers and Old Mutual Property Proprietary Limited regarding the possible internalisation of the management of the Fund remain in progress. Accordingly, unitholders are advised to continue to exercise caution when trading in the Fund’s units until a further announcement has been made. Cape Town 30 September 2013 Investment Bank Investec Bank Limited Sponsor Nedbank Capital Date: 30/09/2013 01:15:00 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.