Posting of Circular TEXTON PROPERTY FUND LIMITED (formerly Vunani Property Investment Fund Limited) Granted REIT status by the JSE (Incorporated in the Republic of South Africa) (Registration number 2005/019302/06) JSE code: TEX ISIN: ZAE000190542 (formerly ISIN: ZAE000185872) (“Texton” or “the Company”) UPDATE ANNOUNCEMENT REGARDING POSTING OF THE CIRCULAR Texton shareholders (“Shareholders”) are referred to the SENS announcement dated Friday, 12 December 2014 (“Announcement”) wherein the Shareholders were advised of a proposed specific issue of shares to a BEE Consortium (the “Proposed BEE Transaction”). In the aforementioned Announcement, Shareholders were advised that further details regarding the Proposed BEE Transaction would be included in the circular to be posted to Shareholders containing, inter alia, the resolutions required to approve the Proposed BEE Transaction and related notices, forms of proxies and forms of election, surrender and transfer (collectively the "Circular"). Accordingly Shareholders are advised that as a result of the December holiday period, the Circular will now be posted to Shareholders on Wednesday, 18 February 2015, which extension has been granted by the JSE Limited. Dunkeld West 13 February 2015 Investment Bank and Sponsor Investec Bank Limited Legal Adviser Cliffe Dekker Hofmeyr Inc Date: 13/02/2015 02:15:00 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.