Redefine Income Fund Limited - Directors Dealings Announcement

Redefine Income Fund Limited - 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 Limited,
we hereby advise the following dealings by a director in the company"s          
securities:                                                                     
Name of director:              Wolf Cesman                                      
Date of exercise:              11 May 2006                                      
Date of issue of securities:   22 May 2006                                      
Price per security:            R6.20                                            
Number of securities:          14,507                                           
Total value:                   R89,943.40                                       
Class of securities:           New linked units                                 
Nature:                        Exercise of rights in respect of                 
                               the rights offer, details of                     
                               which were announced on SENS on                  
10 April 2006 (the "rights                       

                               offer").                                         
Interest:                      Direct beneficial                                
Name of director:              Stewart Shaw-Taylor                              
Date of exercise:              11 May 2006                                      
Date of issue of securities:   22 May 2006                                      
Price per security:            R6.20                                            
Number of securities:          2,245                                            
Total value:                   R13,919.00                                       
Class of securities:           New linked units                                 
Nature:                        Exercise of rights in respect of                 
                               the rights offer.                                
Interest:                      Direct beneficial                                
Clearance to deal was received in terms of paragraph 3.66 of the JSE Listings   
Requirements.                                                                   
Johannesburg                                                                    
16 May 2006                                                                     
Sponsor                                                                         
Java Capital (Proprietary) Limited                                              
Date: 16/05/2006 11:52:22 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department