Resignation of financial director HOSPITALITY PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2005/014211/06) Share code for A linked units: HPA ISIN for A linked units: ZAE000076790 Share code of B linked units: HPB ISIN for B linked units: ZAE000076808 ("Hospitality" or "the Company") RESIGNATION OF FINANCIAL DIRECTOR Unitholders are advised that Hospitality’s Financial Director, who is also currently fulfilling the role of Acting CEO, Mr Ridwaan Asmal has advised that he will be resigning from the Company effective 12 August 2015. Mr Asmal has extended his notice period to ensure that the annual financial statements and the audit for the year end 2015 is completed during this period. The Board would like to record that Mr Asmal’s resignation is not linked to the investigation of misconduct and charges brought against the current suspended CEO of the Company, but rather an opportunity for Mr Asmal to pursue alternative interests in the hospitality sector. The Board acknowledges and thanks Mr Asmal for his dedication and contribution during his term as Financial Director and wishes Mr Asmal well in his future endeavours. Mr Gerald Nelson, the former CEO of the Company and currently a non-executive director, will make himself available as the Acting CEO, if so required, pending the outcome of the disciplinary proceedings with Mr Rogers. Johannesburg 25 May 2015 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 25/05/2015 04:40:00 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.