Due to continued demand from retail and institutional investors, together with the high level of corporate activity among the constituents of the FTSE/JSE Africa Listed Property Index (J253 SAPY), the Manager thought it prudent to extend the offering period.

The new dates are as follows: the initial offer period will now close at 12:00 on Friday, 7 September 2007 (but orders should be in by end of business Thursday, 6 September 2007).  The ramp-up period will close on Friday, 21 September 2007 and PropTrax will be listed on the JSE on Tuesday, 25 September 2007.

The Managers are confident that extending the IPO period will be beneficial to investors, as it will alleviate the risk of any tracking errors arising from the significant rebalancing of the portfolio expected as a result of current corporate activity amongst the index constituents in the form of company mergers, buyouts, and share issuances.  For further information, please contact 011 612 6888 or visit www.proptrax.co.za.

 
Issued on behalf of PropTrax
Craig Hallowes
Tel:       +27 11 6126888
Cell:     +27 84 4584310