Dealings in securities by a director of Tower Asset Managers Proprietary Limited TOWER PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2012/066457/06) JSE share code: TWR ISIN: ZAE000179040 (Approved as a REIT by the JSE) (“Tower”) DEALINGS IN SECURITIES BY A DIRECTOR OF TOWER ASSET MANAGERS PROPRIETARY LIMITED Shareholders are advised of the following information relating to dealings in securities by a director of Tower Asset Managers Proprietary Limited, the asset manager of Tower: Name of director: Bruce Rogerson Transaction date: 24 February 2015 Class of securities: Ordinary shares Number of securities: 900 Price per security: R9.95 Total value of transaction: R8 955.00 Nature of transaction: On-market sale Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Bruce Rogerson Transaction date: 25 February 2015 Class of securities: Ordinary shares Number of securities: 30 000 Price per security: R9.70 Total value of transaction: R291 000.00 Nature of transaction: On-market sale Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Bruce Rogerson Transaction date: 26 February 2015 Class of securities: Ordinary shares Number of securities: 28 200 Price per security: R9.70 Total value of transaction: R273 540.00 Nature of transaction: On-market sale Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes 2 March 2015 Sponsor Java Capital Date: 02/03/2015 03:36:00 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.