Dismissal of chief executive officer 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 (“the Company”) DISMISSAL OF CHIEF EXECUTIVE OFFICER Further to the announcement released on the Stock Exchange News Service on Monday, 25 May 2015, unitholders are advised that the Chief Executive Officer (“CEO”), Mr Andrew Rogers has resigned as a director, and has been dismissed with immediate effect. Following the outcome of a forensic investigation and a subsequent disciplinary hearing (“the hearing”), where various charges of misconduct were brought against Mr Rogers by the Company, the independent Chairman who presided over the hearing found that Mr Rogers had breached his fiduciary duty of good faith to the Company, failed to disclose related party interests in contracts and was involved in procurement irregularities. This has led to the irretrievable breakdown in trust between the Company and Mr Rogers. The Board has agreed to follow the recommendation of dismissal made by the Chairman. Unitholders are advised that the misconduct did not result in a direct known financial loss to the Company. However, an indirect negative impact was felt as a result of the uncertainties created during the suspension period as well as the costs of the investigation. Mr Ridwaan Asmal will continue to fulfil the role of Acting CEO, until Mr Gerald Nelson, currently a Non-Executive Director of the Board and past CEO of the Company, assumes the role of Acting CEO as a temporary measure on 12 August 2015, or until a suitable candidate is found to fill this vacancy. Johannesburg 22 June 2015 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 22/06/2015 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.