Results of share re-investment alternative VUKILE PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2002/027194/06) JSE share code: VKE NSX share code: VKN ISIN: ZAE000180865 (Granted REIT status with the JSE) (“Vukile” or “the company”) RESULTS OF SHARE RE-INVESTMENT ALTERNATIVE Shareholders are referred to the declaration of a cash dividend of 63.22200 cents per share for the six months ended 30 September 2015 (the “cash dividend”) with an election to re-invest the cash dividend in return for Vukile shares (the “share re-investment alternative”) announced on SENS on Wednesday, 25 November 2015, and the re-investment price per new Vukile share (being R17.50778) applicable to Vukile shareholders electing the share re-investment alternative announced on SENS on Thursday, 3 December 2015. Shareholders holding 42 532 179 Vukile shares or 6.85% of Vukile shares (prior to the election) qualifying to receive the cash dividend elected the share re-investment alternative, resulting in the issue of 1 535 861 new Vukile shares and a retention of R26 889 516.50 (based on the issue price of R17.50778 per new share after accounting for the applicable dividend withholding tax) in new equity for Vukile. Accordingly a total cash dividend of R381 609 326.04 is payable today in respect of 603 601 829 Vukile shares. Certificated shareholders who did not elect the share re-investment alternative in respect of some or all of their shares and who have provided their bank details to Vukile’s transfer secretaries will have their bank accounts credited with the cash dividend on Monday, 21 December 2015. Share certificates in respect of certificated shareholders who did elect the share re-investment alternative in respect of some or all of their shares will be posted on Wednesday, 23 December 2015 to certificated shareholders at their own risk. The Central Securities Depository Participants or broker custody accounts of dematerialised shareholders who did not elect the share re-investment alternative in respect of some or all of their shares will be credited with the cash dividend on Monday, 21 December 2015 and the Central Securities Depository Participants or broker custody accounts of dematerialised shareholders who did elect the share re-investment alternative will be credited on Wednesday, 23 December 2015 with their new Vukile shares. 21 December 2015 JSE sponsor NSX sponsor Java Capital IJG Securities (Pty) Ltd Date: 21/12/2015 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.