Acucap\Sycom - Successful transfer of Greenacres Shopping Centre and posting of offer documentation Acucap Properties Limited Sycom Property Fund (Incorporated in the Republic of South Africa) A Collective Investment Scheme in Property ("CISP") (Registration number 2001/021725/06) registered in terms of the Collective Investment Share code: ACP Schemes Control Act, No. 45 of 2002 ISIN: ZAE000037651 and managed by Sycom Property Fund Managers (Approved as a REIT by the JSE) Limited (“Acucap”) (Registration number 1986/002756/06) (“SPFM”) Share code: SYC ISIN: ZAE000019303 (Approved as a REIT by the JSE) (“Sycom”) JOINT ANNOUNCEMENT: SUCCESSFUL TRANSFER OF GREENACRES SHOPPING CENTRE AND POSTING OF OFFER DOCUMENTATION 1. Greenacres acquisition Further to the announcements released by Acucap and Sycom on SENS on 21 October 2013 wherein it was disclosed that Acucap and Sycom had each acquired an undivided half share in Greenacres Shopping Centre in Port Elizabeth (“Greenacres”), the directors of Acucap and SPFM are pleased to announce that the transfer of Greenacres was registered today. Plans for an expansion and upgrade of Greenacres are well advanced and further details will follow once plans are approved. 2. Posting of offer documentation Acucap linked unitholders and Sycom unitholders are referred to the announcement released on SENS on 27 March 2014 pertaining to an offer by Acucap to acquire all Sycom units in issue, other than those that are already held by Acucap or its wholly-owned subsidiary, SPFM, in consideration for securities in Acucap (“the Offer”). The Offer opens for acceptance by Sycom unitholders from today (31 March 2014) and will remain open until 12:00 on Friday, 16 May 2014. A circular and Offer document, providing additional information on the Offer, were posted to Acucap linked unitholders and Sycom unitholders respectively, today, 31 March 2014. The circular and Offer document are also available for download on the respective websites of Acucap (www.acucap.co.za) and Sycom (www.sycom.co.za). Cape Town 31 March 2014 Corporate advisor and Sponsor Questco (Pty) Ltd Date: 31/03/2014 05:00:00 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.