Update in respect of internalising management of Capital 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) (Approved as a REIT by the JSE) 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 Capital unitholders are referred to the previous announcements, the last of which was published on SENS on 29 November 2013, relating to a proposed restructure (“the proposed restructure”) in terms of which Capital will be established as an internally managed corporate Real Estate Investment Trust (“REIT”). Following the promulgation of the Taxation Laws Amendment Act (Act No. 31 of 2013) on 12 December 2013, the process in terms of which Collective Investment Schemes in Property (“CISIPs”) may be converted from CISIP REITs into corporate REITs is currently being agreed upon between the various CISIPs, including Capital, and the FSB’s Registrar of Collective Investment Schemes. The process for conversion will shortly be published by the FSB by way of a Notice issued in terms of the Collective Investment Schemes Control Act, 2002 (Act 45 of 2002), as amended (“the Notice”). Until such time as the Notice is published in the Government Gazette and the various regulatory and unitholder approvals have been received, the timing of the proposed restructure remains uncertain and unitholders will be kept up to date by way of further SENS announcements. 27 February 2014 Sponsor Java Capital Date: 27/02/2014 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.