Growthpoint's Properties Limited's Beacon Bay Retail Park in East London is undergoing a R12 million upgrade that will improve access, parking, tenant mix and its overall offering to Eastern Cape shoppers.

The popular East London shopping destination will now be served by a dedicated slip road, providing direct access to the centre from Bonza Bay Road, improving traffic flows. Additional parking will be created for 130 cars to better serve the new and expanding retailers joining the 27,000m2 complex managed by Investec Property Group.

A new Ackermans Mega Store of 1,200m2 will open in September 2005 with both Nedbank and Standard Bank expanding. In addition Pep will be expanded, revamped and upgraded to the Pep Blue Sky concept. The old Ackermans premises will be enlarged to 600m2 to accommodate new tenant, Jet. Natal Wholesale Jewellers is also set to open at the centre.

For further information, please contact:

Stephan le Roux

Investec Property Group

Tel. 012 323 3134

Cell 082 607 0245