RNS Number:6229J
South African Property Opps PLC
11 December 2007



FOR IMMEDIATE RELEASE

11 December 2007

                    SOUTH AFRICAN PROPERTY OPPORTUNITIES PLC
                        ("SAPRO" or the "Company")

                    SAPRO announces the Emberton Development

SAPRO today announces the exchange of contracts for the acquisition of a piece
of land with an area of 16.5ha (the "Site") in Hillcrest, approximately 15km
west of Durban, KwaZulu Natal (the "Emberton Development").

The site, an existing golf driving range, is currently zoned for agricultural
use. It is situated directly adjacent to the main M13 highway and commuter route
into Durban from the west, providing excellent visibility and exposure. The
proposed development will comprise an upmarket mixed-use secure estate, with
residential, commercial and retail components.

Investment highlights:

* SAPRO has secured the Emberton Development, but has simultaneously commenced
negotiations with an experienced local contractor who it is proposed would
acquire a minority stake and work on the project with SAPRO.

* The land acquisition costs are R52.5 million (#3.7 million), which at present
SAPRO has funded. SAPRO will further provide an additional R1.3 million (#0.1
million) of working capital, taking the Company's total investment to
R53.8 million (#3.8 million). However, any joint venture partner will be
required to fund their equity participation on a pro rata basis at par.

* The total investment in the Emberton Development is estimated to be
R184.5 million (#13.0 million), consisting of land acquisition costs of
R52.5 million (#3.7 million) and estimated development costs of circa R132
million (#9.3 million). Up to R130.7 million (#9.2 million) of bank financing
will be required for the construction phase (although the total amount
outstanding in any one calendar year will be considerably less than this).

* The land is currently classed as an agriculture holding and we estimate the
project will require a two year township application process allowing SAPRO to
commence construction in the first quarter of 2010.

* The transaction brings total equity invested to #43.5 million.

Brian Myerson, a director of SAPRO, commented:

"In the Emberton Development we have secured some prime strategic land at an
excellent price and which we are confident will produce strong medium term
returns. The site is in a great location in the high growth Hillcrest node (a
suburb of Durban) and links directly to the current main commuting route into
Durban from Hillcrest. Whilst planning will take some time, we believe that it
will be obtained and the returns justify the extra time and effort required to
launch the development."

Further enquiries:

SAPRO Anne Dalen +44 20 7240 3222

Landsbanki Securities Paul Fincham +44 207 426 9000

Bell Pottinger Dan de Belder +44 207 861 3232

Note to Editors:

-                     South African Property Opportunities plc (SAPRO) is a
company investing in the South African property market.  Its shares were
admitted to AIM in October 2006 raising an intial #30 million. In April 2007 a
further #33.5 million was raised from new and existing investors.


-                     SAPRO was established to invest in the South African
property market with a view to generating attractive returns, principally
through capital growth. It is targeting opportunities arising from the
increasing wealth that has been generated from greater urbanisation in South
Africa coupled with the rapid emergence of a cross cultural middle class. SAPRO
is currently focused on investments in brownfield and greenfield development
opportunities.


-                     The Investment Manager is Proteus Property Partners
Limited and the Investment Adviser is Proteus Property Advisors (Pty) Limited.
The Investment Manager and Investment Adviser are responsible for identifying
new investment opportunities.


-                     The Investment Manager and Investment Adviser are 60%
owned subsidiaries of Principle Capital Holdings S.A. (AIM: PCX.L).




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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