Redefine - Results of Rights Offer

Redefine - Results of Rights Offer                                              
Redefine Income Fund Limited                                                    
(Registration No. 1999/018591/06)                                               
Share Code: RDF & ISIN Code: ZAE000023503                                       
("Redefine")                                                                    
RESULTS OF RIGHTS OFFER                                                         
Further to the announcement published on SENS on 10 April 2006 which set out the
terms and conditions of the rights offer by Redefine of 53 501 834 new Redefine 
linked units ("rights units") at a price of R6,20 per unit, Java Capital is     
authorised to announce that linked unitholders and/or their renouncees had      
subscribed for 27 861 315 rights units (amounting to 52.52% of the rights units)
by the close of the rights offer on Friday, 19 May 2006.                        
In addition, excess applications were received in respect of 394 015 rights     
units, all of which have been allocated to the applicants.                      
Cash, in an amount of R175 183 046 has been raised as a result of the rights    
offer subscription.                                                             
Dematerialised unitholders will have their custody accounts credited with the   
linked units subscribed for in terms of the rights offer and certificates will  
be posted to certificated unitholders today.                                    
Linked unitholders are reminded, in terms of the announcement published on SENS 
on 11 May 2006, to exercise caution in dealing with Redefine linked units until 
a further announcement is made.                                                 
Rosebank                                                                        
22 May 2006                                                                     
Corporate and legal advisor and sponsor                                         
Java Capital (Proprietary) Limited                                              
Date: 22/05/2006 03:28:26 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department