Update in respect of internalising management of Capital CAPITAL PROPERTY FUND (a portfolio in Capital Property Trust Scheme, a collective investment scheme in property registered as such in terms of the Collective Investment Schemes Control Act, No. 45 of 2002) (“Act”) (Approved as a REIT by the JSE) JSE share code: CPL ISIN: ZAE000001731 (“Capital”) Managed by Property Fund Managers Limited (Registration number 1980/009531/06) (“PFM”) UPDATE IN RESPECT OF INTERNALISING MANAGEMENT OF CAPITAL Capital unitholders are referred to the previous announcements, the last of which was published on SENS on 27 February 2014, relating to a proposed restructure (“the proposed restructure”) in terms of which Capital will be established as an internally managed corporate Real Estate Investment Trust (“corporate REIT”). The process for conversion of a collective investment scheme in property to a corporate REIT was published by the Financial Services Board by way of a Notice in the Government Gazette in terms of the Act on 28 March 2014. The approval process of the documentation relating to the proposed restructure is well advanced with the various regulators and will be sent to Capital unitholders in due course. Capital unitholders will be kept up to date by way of further SENS announcements. 17 April 2014 Sponsor Java Capital Date: 17/04/2014 04:45:00 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.