Appointment of Chief Executive Officer EMIRA PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration Number 2014/130842/06) Share Code: EMI ISIN: ZAE 000203063 ("Emira" or "the Company") (Approved as a REIT by the JSE) APPOINTMENT OF CHIEF EXECUTIVE OFFICER The Emira Board is pleased to advise shareholders that Mr Geoff Jennett, currently chief financial officer and an executive director of Emira, has been appointed Chief Executive Officer with effect from 1 September 2015. The appointment of a new chief financial officer is underway and an announcement is expected to be made in the near future. The Emira Board acknowledges and thanks Mr James Templeton for his dedication and contribution as Chief Executive Officer since July 2004 and wishes him well in his future endeavours. Mr Jennett, who joined Emira on 1 November 2014, has significant business and financial experience, having been in various investment banking and other businesses since 1994 (FNB Corporate, Coronation Capital, Nedbank Capital and Absa Capital), including leadership roles at a smaller unlisted company. His skills in structuring and deal-making, as well as his strong financial and strategic understanding, make him well suited for the CEO role. Bryanston 4 August 2015 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 04/08/2015 10:30:00 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.