Sale of Shares in National Property Trust Limited

The Manager of The National Property Trust has announced the unconditional sale of the shares in the management company (The National Property Trust Limited) to St Laurence Holdings Ltd.

The announced sale, for completion settlement on 30 November 2005, follows substantial deliberations by the directors and shareholders of the management company and expressions of interest from numerous property investment entities.

Peter Rae is a director of the management company and Peter Rae Industries Ltd has a 10% shareholding in the management company.

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