REDEFINE RESULTS OF PRIVATE PLACEMENT

REDEFINE INCOME FUND LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 99/18591/07)
("REDEFINE")
RESULTS OF PRIVATE PLACEMENT

CORPCAPITAL LIMITED IS AUTHORISED TO ANNOUNCE THAT:

- IN TERMS REDEFINE'S PROSPECTUS DATED 14 FEBRUARY 2000, REDEFINE ANNOUNCED ITS
INTENTION TO RAISE UP TO R58 MILLION BY WAY OF A PRIVATE PLACEMENT OF 29
MILLION LINKED UNITS, AT R2,00 PER LINKED UNIT, TO CERTAIN INSTITUTIONS,
CORPORATIONS AND INDIVIDUALS;

- APPLICATIONS FOR THE LINKED UNITS WERE RECEIVED IN THE AGGREGATE AMOUNT OF
R150 MILLION, RENDERING THE PRIVATE PLACEMENT 2,6 TIMES OVER-SUBSCRIBED; AND
- IN THE CIRCUMSTANCES, THE PRIVATE PLACEMENT WAS SUCCESSFUL AND THE FULL R58
MILLION HAS BEEN RAISED PURSUANT THERETO.
JOHANNESBURG
23 FEBRUARY 2000
CORPORATE ADVISER
CORPCAPITAL CORPORATE FINANCE
CORPORATE LAWYERS
CORPCAPITAL TRANSACTION SUPPORT
SPONSORING BROKER
BARNARD JACOBS MELLET * SECURITIES (PTY) LTD.
MEMBER OF THE JOHANNESBURG STOCK EXCAHNGE
(REGISTRATION NUMBER 87/00175/07)