Change to the board of directors of SPFM Sycom Property Fund A Collective Investment Scheme in Property ("CISP") registered in terms of the Collective Investment Schemes Control Act, No. 45 of 2002 (“CISCA”) and managed by Sycom Property Fund Managers Limited (“SPFM”) (Registration number 1986/002756/06) Share code: SYC ISIN: ZAE000019303 Sycom receipts: SYCR ISIN ZAE000189551 (Approved as a REIT by the JSE) (“Sycom”) CHANGE TO THE BOARD OF DIRECTORS OF SPFM The board of directors of the management company of Sycom, SPFM, (the “Board”) hereby advise that Baden Marlow has made a decision to retire from his position as financial director of SPFM, with effect from 20 June 2014. He will however remain on the Board as a non-executive director. Baden has been with SPFM since October 2009 and the Board recognises his crucial role as part of the executive team, as well as the immense contribution he has made to the success of Sycom. The Board welcomes his decision to remain on in a non-executive capacity and is certain that he will continue to add enormous value to the management of the group. The Board is pleased to announce the appointment of Baden’s successor, Craig Kotze, as financial director of SPFM, with effect from the later of 21 June 2014 and one business day following the date of receipt of approval of the Financial Services Board’s approval of his appointment. Craig is a Chartered Accountant with 12 years' experience in the property industry. He served as financial director of Atlas Properties Limited (“Atlas Properties”) from 2004 to 2007, and he became part of the SPFM and Acucap asset management team following the merger of Acucap and Atlas Properties in 2007. Craig has an intimate understanding of the business, and has worked closely with Baden for the last 7 years, and the Board therefore expects a smooth transition over the next month. Based on his past experience and qualifications, the members of SPFM’s audit committee have verified that Craig meets the eligibility criteria for the position, as required by Section 3.84(h) of the JSE Limited Listings Requirements. Cape Town 9 June 2014 Sponsor Questco (Pty) Ltd Date: 09/06/2014 04:44:00 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.