Further to the detailed cautionary announcement released
on SENS on 14 November 2011 and the terms announcement released on 30 November
2011, wherein linked unitholders were advised that the company has made an
offer to Sanlam Life Insurance Limited (“Sanlam”) dated 3 November 2011 in
terms of which Vukile will acquire the property letting enterprises in respect
of a portfolio of properties which offer has been accepted by Sanlam (“the
Transaction”), unitholders are further advised that it is anticipated that the
circular to unitholders containing details of the Transaction and the notice of
general meeting will be posted on or about 31 January 2012.