Appointment of a new chairman and lead independent director to the board of directors (“the board”) HOSPITALITY PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2005/014211/06) Share code of B shares: HPB ISIN for B shares: ZAE ZAE000214656 (Approved as a REIT by the JSE) ("Hospitality") APPOINTMENT OF A NEW CHAIRMAN AND LEAD INDEPENDENT DIRECTOR TO THE BOARD OF DIRECTORS (“THE BOARD”) Shareholders are referred to the recent announcements made on SENS regarding the appointment of John Copelyn, Zibusiso Kganyago, Laurelle McDonald, Rob Nicolella and Marcel von Aulock as non-executive directors as well as the appointment of Mara de Lima as Financial Director and Keith Randall as Chief Executive Officer to the Board. Further to these changes, John Copelyn has been appointed as Chairman of the Board and replaces Don Bowden in that capacity. Linda de Beer in her capacity as independent director to the Board has been appointed as lead independent director. These changes are effective from 30 November 2016. The Board extends its gratitude to Don, for his vision, commitment and leadership as Chairman over the last two and a half years. The Board is in the fortunate position that Don will continue to serve as an independent non-executive director and as such the Group will continue to benefit from his knowledge and expertise. Johannesburg 5 December 2016 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 05/12/2016 02:29:00 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.