Further announcement regarding the acquisition of a property in Century City INGENUITY PROPERTY INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2000/018084/06) ISIN: ZAE 000127411 JSE share code: ING (“Ingenuity” or “the Company”) FURTHER ANNOUNCEMENT REGARDING THE ACQUISITION OF A PROPERTY IN CENTURY CITY 1. Introduction Shareholders are referred to the announcement released on SENS on 10 November 2014 setting out full details of the acquisition by the Company of Erf 6954 Montague Gardens (“the Property”) (“the Acquisition”). 2. Categorisation of the Acquisition In terms of section 10.1 of the JSE Listings Requirements, the Acquisition was classified as a “small related party” transaction as Ingenuity was transacting with Rabie Property Group Proprietary Limited, an associate (as defined in the JSE Listings Requirements) of Mr L H Cohen, a non-executive director of Ingenuity. Ingenuity therefore appointed Mills Fitchet Magnus Penny (“the Independent Valuer”), who is an independent registered valuer as defined in Section 13 of the JSE Listings Requirements, to perform an independent valuation of the Property. Based on the value of the Property arrived at by the Independent Valuer, being R11 985 200, the directors of Ingenuity are of the opinion that the terms and conditions of the Acquisition are fair to shareholders. The JSE has approved a summary of the independent valuation report of the Property prepared by the Independent Valuer and the full independent valuation report is available for inspection at the registered office of the Company, Suite 102, 1st Floor, Intaba, 25 Protea Road, Claremont, Cape Town, during normal business hours for a period of 28 days from the date of this announcement. 3. Value of and profits attributable to the net assets of the Acquisition The Property being acquired is vacant land and will be funded entirely by way of a bank finance loan. As the Property will be developed, the finance charges on the loan will be capitalised during the development phase which is expected to be approximately 18 months. Accordingly, there is no financial effect on net assets nor the after tax profits of the Company. 2 December 2014 Cape Town Investment bank and Sponsor Nedbank Capital Date: 02/12/2014 04:50:00 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.