Update in respect of internalising management of Capital and conversion to a REIT CAPITAL PROPERTY FUND (a portfolio in Capital Property Trust Scheme, a collective investment scheme in property registered as such in terms of the Collective Investment Schemes Control Act, No. 45 of 2002) JSE share code: CPL ISIN: ZAE000001731 (“Capital”) Managed by Property Fund Managers Limited (Registration number 1980/009531/06) (“PFM”) UPDATE IN RESPECT OF INTERNALISING MANAGEMENT OF CAPITAL AND CONVERSION TO A REIT Capital unitholders are referred to Capital’s condensed unaudited consolidated interim financial statements for the six months ended 30 June 2013 published on SENS on 31 July 2013 wherein the board detailed that, in line with a proposed industry initiative under the SA REIT Association, Capital intended converting to a corporate Real Estate Investment Trust and as a result Capital would no longer be subject to the Collective Investment Schemes Control Act (Act 45 of 2002). As previously announced, the board has in principle agreed to the internalisation of the management of Capital. The board of PFM considers it optimal to implement the conversion and internalisation simultaneously. The implementation of these changes is subject to various regulatory and unitholder approvals and to certain anticipated amendments to the Income Tax Act, 1962 in terms of the draft Taxation Laws Amendment Act, 2013 (“TLAB”). Until such time as TLAB has been implemented, the timing of this process remains uncertain and unitholders will be kept up to date by way of further SENS announcements. 30 September 2013 Sponsor Java Capital Date: 30/09/2013 05:17:00 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.