(Cape Town, South Africa - 1 November 2005) Eurocape, the developers of the R1-billion Mandela Rhodes Place in Cape Town's city centre, is set to catapult the inner city into a cosmopolitan food, wine and lifestyle pedestrian haven with the announcement of innovative retail packages on three levels of the gloriously revamped buildings.

The Mandela Rhodes Place project is a unique example of modern city living, with old and new residing together in what is widely considered the cultural heart of Cape Town's "Old Town". This project is firmly regarded as a catalyst in inner-city rejuvenation and is one of the largest mixed-use developments in Cape Town since the 1970's.

Scheduled for completion during the second half of 2006, Mandela Rhodes Place includes 180 luxury apartments, secure on-site parking, a luxury hotel, swimming pool, gymnasium, health and wellness centre. But it's the gastronomic retail component and vibey city-living atmosphere that will distinguish this flagship development and become its foremost calling card.

The retail agency at Mandela Rhodes Place has been placed in the expert hands of David Murphy, a chartered surveyor who previously worked at Ireland's leading estate agents, auctioneers and valuers, Hamilton Osborne King. David is now acting as Eurocape's exclusive commercial agent at their Cape Town office.

With a clear mission to secure distinctively unique tenants, Murphy confirms that discussions are underway with a number of interested prospective tenants to lease approximately 3,500m2 of prime retail accommodation.

"We want to secure a tenant mix that reflects the vision and diversity of this unique destination. We are planning a range of offerings that will encourage visitors to return again and again. This includes distinctive food and beverage offerings all within a relaxed modern environment."

Targeting gym, health and wellness centres, top-end jewelers and luxury brand gift emporiums will complement the primary focus of attracting restaurants of international standing, a bistro-style meeting and dining venue, a cocktail-tapas bar, whisky-cigar bar and a gourmet food hall.

Leading the gastronomic charge was Eurocape's July announcement that internationally renowned winemaker, Jean-Vincent Ridon of Signal Hill Wines, had won the bid to establish the city's first fully fledged inner-city winery in Mandela Rhodes Place. Signal Hill will relocate from its current premises in time for the 2006 harvest.

Says Murphy, "Our design and architectural team has ensured that the interior aesthetics will create a world-class, inviting environment appealing to even the most seasoned city dweller and shopper.

"All the retail space, including the lower ground level, will be bathed in natural light pouring through a spectacularly high glass-topped atrium.

From eight floors below, people will be able to see the cantilevered floor of the residential tower float dramatically above the retail space and pedestrian link leading to St George's Mall."

He explains that the retail development will be exclusive insofar as it will be regarded as a well-known and well-managed lifestyle experience in the city centre, rather than exclusive in the sense of being out of the reach of average South Africans.

"The retail offering at Mandela Rhodes Place is aimed at the local market and will encourage Capetonians to come back into the CBD. The development will of course appeal to international and domestic visitors. But our main focus is to attract Capetonians into the city centre and to encourage them to take ownership of a city-living lifestyle which Cape Town's Old Town will represent."

For further information about retail opportunities at Mandela Rhodes Place, contact David Murphy on +27 21 426 4759 or +27 83 395 7576.

Editor's Notes:

Eurocape Holdings Limited, a South African investment and development company, was established in January 2003 from Howard Holdings plc, a major property development group in Ireland and the UK. Howard Holdings has between R5-billion and R10-billion worth of property under development in the British and Irish property markets, including a prestigious portfolio of both residential and commercial projects.

Eurocape is working closely with the City of Cape Town and the Cape Town Partnership to bring new homes, businesses, entertainment and leisure facilities to the Old Town. The aim of developments like Mandela Rhodes Place is to ultimately link the V&A Waterfront to the foot of Table Mountain through a vibrant city centre alive with cultural, retail and a variety of other attractions found in many modern cities around the world, including the European cities of Prague, Dusseldorf, Barcelona and Dublin.

ENDS

ISSUED BY: The Phoenix Partnership

ON BEHALF OF: Eurocape Holdings (Pty) Ltd

MORE INFORMATION:
Dominique Coetzee,
The Phoenix Partnership
(021) 422 2541 or
082 802 8184
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