Redefine - Directors Dealings Announcement

Redefine - Directors Dealings Announcement                                      
Redefine Income Fund Limited                                                    
(Registration No. 1999/018591/06)                                               
Share Code: RDF    ISIN Code: ZAE000023503                                      
("Redefine" or the "company")                                                   
DIRECTORS DEALINGS ANNOUNCEMENT                                                 
In compliance with section 3.63 of the Listings Requirements of the JSE, Madison
Property Fund Managers (Pty) Ltd ("Madison") disposed of 202 412 Redefine linked
units on 20 April 2005 at a price per unit of 370 cents, with a total value of  
R748 924.40, and 183 077 Redefine linked units on 21 April 2005 at a price per  
unit of 370 cents, with a total value of R677 384.90. Each of Marc Wainer and   
Wolf Cesman hold 25% of the issued share capital of Madison.                    
Clearance to deal was received in terms of paragraph 3.66 of the JSE Listings   
Requirements.                                                                   
Johannesburg                                                                    
22 April 2005                                                                   
Sponsor                                                                         
Java Capital (Proprietary) Limited                                              
Date: 22/04/2005 04:47:46 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department