Director Associate’s Dealings in Securities INVESTEC PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Reg. No: 2008/011366/06) Approved as a REIT by the JSE Share Code: IPF ISIN: ZAE000180915 ("Investec Property Fund" or "the Fund") Director Associate’s Dealings in Securities In compliance with Rules 3.63 - 3.74 of the JSE Limited Listings Requirements, the following information is disclosed: Name : Moses Modidima Ngoasheng Associate : Modidima Properties (Pty) Ltd Designation : Independent Non-Executive Director Nature of transaction : Acquisition of shares, on market Class of shares : Ordinary Nature of interest : Indirect Beneficial Date of transaction : 06 September 2017 Number of shares : 88 140 Purchase price per share : R15.5994 Total value of transaction : R1 374 931.11 Clearance to deal obtained : Yes Name : Moses Modidima Ngoasheng Associate : Modidima Properties (Pty) Ltd Designation : Independent Non-Executive Director Nature of transaction : Acquisition of shares, on market Class of shares : Ordinary Nature of interest : Indirect Beneficial Date of transaction : 07 September 2017 Number of shares : 104 167 Purchase price per share : R15.6051 Total value of transaction : R1 625 536.45 Clearance to deal obtained : Yes Investec Property Fund Limited Johannesburg 7 September 2017 Sponsor: Investec Bank Limited Date: 07/09/2017 04:12:00 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.