Going forward into 2004 in-depth analysis will be crucial to determine those listed property stocks well positioned to outperform the sector.

To date Provest, a member of Investec Property Group, has succeeded in continually outperforming its peers through its comprehensive research-backed investment decisions.

Provest manages the largest portfolio of listed property in the country and has over 130 individually tailor-made portfolios under management. This listed asset management consultancy is responsible for over 15% of the sector’s trading activities.

"More than ever, 2004 is going to be a year that is a true test of a listed property asset manager’s capabilities. The smart people will be the ones who make money," said Angelique de Rauville, Managing Director of Provest.

De Rauville's emphasis on research as a decision making tool in the listed property sector is backed by her compilation of a dozen research publications on the South Africa listed property sector over the past three years.

It is this wealth of research and experience that benefits Provest's private clients and institutional investors with specialised investments in the listed property sector, including geared investments, with de Rauville's particular area of expertise being gearing against listed property stocks.

Provest has a broad base of independently managed investor portfolios which it continually grows by providing expert research, portfolio management and specialised services for private and corporate clients, thus maximising income and returns.

Furthermore, Provest is strategically placed in the listed property sector to source and facilitate attractive trading opportunities.

"In 2004 the quality of both underlying assets and management is going to be crucial to producing superior returns. Some of the quality property funds and companies that are expected to deliver earnings ahead of their peers include Martprop, Sycom, Acucap, Atlas and Metboard," said de Rauville.

"It should be noted that ApexHi should not be overlooked as a risk-adjusted 'sweetener' to investors' portfolios".

Under de Rauville's directorship Provest was recognised as one of South Africa's top 20 non-listed companies in 2001.

For further information, please contact:

Angelique de Rauville Managing director

Provest – a member of Investec Property Group.

Tel. 286 9238 cell 083 628 7684

Or

Marketing Concepts

Sandy Davey

Tel. 011 880 2213.