PTXSPY - Distribution Finalisation Announcement Grindrod PropTrax SAPY (formerly PropTrax SAPY) Share code: PTXSPY ISIN: ZAE000101911 ("PropTrax SAPY") A portfolio in the Grindrod Index Tracker Collective Investment Scheme (formerly Property Index Tracker Collective Investment Scheme) registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002, managed by Grindrod Index Tracker Managers (RF) Proprietary Limited (formerly Property Index Tracker Managers Proprietary Limited) DISTRIBUTION FINALISATION ANNOUNCEMENT Holders of PropTrax SAPY securities are advised that a distribution will be made in respect of the quarter ended 30 June 2014. The distribution of 60.45167 cents per PropTrax SAPY Security will be comprised as follows: Dividend (local)(to be taxed) 2.15618 cents Dividends Withholding Tax (15%) 0.32343 cents Net Dividend (local) 1.83275 cents Dividend (local)( subject to STC credits of 15% i.e. exempt from tax) 0.00985 cents STC Credits 0.00985 cents Net Dividend (local) 0.00985 cents Dividend (foreign)(to be taxed) 5.52335 cents Dividends Withholding Tax (15%) 0.82850 cents Net Dividend (foreign) 4.69485 cents Gross REIT Distribution 46.92388 cents (No Dividend Withholding Tax deducted for SA resident securities holders) Non-residents: Local Dividends withholding Tax (15%) 7.03858 cents Net dividend 39.88530 cents Interest 5.83841 cents The distribution will be made to all holders of PropTrax SAPY securities who were recorded in the register on 27 June 2014 and will be paid on Friday, 11 July 2014. 9 July 2014 Sponsor Grindrod Bank Limited Date: 09/07/2014 05:38:00 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.