REDEFINE INCOME FUND LIMITED - DIRECTOR"S DEALINGS IN LINKED UNITS

REDEFINE INCOME FUND LIMITED - DIRECTOR"S DEALINGS IN LINKED UNITS              
Redefine Income Fund Limited                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration No. 1999/018591/06)                                               
(Share code: RDF         ISIN number: ZAE000023503)                             
("Redefine")                                                                    
DIRECTOR"S DEALINGS IN LINKED UNITS                                             
In compliance with rule 3.63 - 3.74 of the JSE Securities Exchange South Africa 
Listing Requirements, the following is disclosed:                               
NAME OF DIRECTOR:               Eric Ellerine                                   
DATE OF TRANSACTION:            8th October 2003                                
NATURE OF TRANSACTION:          Sale                                            
NUMBER OF LINKED UNITS:         1 927 900 Redefine linked                       
                                units                                           
NATURE AND EXTENT OF                                                            
DIRECTOR"S INTEREST             Indirect, beneficial interest                   
PRICE PER LINKED UNIT:          R2,42 per Redefine linked unit                  
TOTAL VALUE                     R4 665 518                                      
Eric Ellerine received clearance to deal in the linked units from the designated
director of Redefine.                                                           
Date: 09/10/2003 08:46:30 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department