Return of Capital Payment

6 January 2017

South African Property Opportunities plc ("SAPRO" or "the Company")

Return of Capital Payment

The Board of South African Property Opportunities plc confirms that a return of capital of 7.25 pence per ordinary share will be paid, representing the cash proceeds available for distribution from the portfolio realisations to date.

Shareholders should take note of the following dates in respect of this return of capital payment:

Ex-dividend date: 19 January 2017

Record date: 20 January 2017

Payment date: 27 January 2017

For further information please contact:

Paul Fincham/Jonathan Becher +44 (0) 20 7886 2500

Panmure Gordon

Ian Dungate/Suzanne Jones +44 (0) 1624 692600

Galileo Fund Services Limited