"We are confident that with net distributable income of R13,8 million and our new portfolio of properties, Prima is on track to meet our forecast eight-month distribution to June 2004 of 8,6 cents per unit," said Prima Property Trust Chief Executive Officer Steven Jersky.

The payments to unit holders of the two-month distribution will take place on Monday, 8 March 2004.

In addition, subject to the approval of the necessary regulatory authorities, Prima Property Trust intends to alter its year-end from 30 June to 30 April, with effect from 30 April 2004.

In terms of its strategy Prima will continue to acquire properties that will further enhance the value of the portfolio and earnings.

For further information please contact:

Prima Property Trust

Steven Jersky

+27 11 283 0000

or

Marketing Concepts

Sandy Davey

+27 11 880 2213