Redefine /Spearhead - Results of the scheme meetings

     Redefine /Spearhead - Results of the scheme meetings                       
     Redefine Income Fund Limited                                               
     (Registration No. 1999/018591/06)                                          
Share Code: RDF & ISIN Code: ZAE000023503                                  
     ("Redefine")                                                               
     Spearhead Property Holdings Limited                                        
     (Registration No. 1996/005827/06)                                          
Share Code: SPE & ISIN Code: ZAE000019162                                  
     ("Spearhead" or "the company")                                             
     Results of the scheme meetings                                             
     Spearhead linked unitholders are advised that the scheme of arrangement in 
terms of section 311 of the Companies Act (Act 61 of 1973, as amended)     
     ("the Act") between Spearhead and its linked unitholders relating to the   
     acquisition by Redefine of 100% of the linked units in Spearhead ("the     
     scheme") was unanimously approved by Spearhead shareholders and Spearhead  
debenture holders at the scheme meetings held on Tuesday 24 October 2006.  
     Copies of the Chairman"s report on the scheme meetings will be available at
     the registered office of Spearhead (3rd Floor, The Spearhead, 42 Hans      
     Strijdom Avenue, Foreshore, Cape Town, 8001) and at the offices of         
Spearhead"s Sponsor, Bridge Capital Advisors (Proprietary) Limited (1st    
     Floor, 22A The Woodlands, Woodlands Drive, Woodmead, Sandton, 2196) to any 
     Spearhead linked unitholder on request, free of charge, during normal      
     business hours, for at least 4 calendar days before the date on which      
application is made to the High Court of South Africa (Cape of Good Hope   
     Provincial Division) for the sanctioning of the scheme ("the return date").
     CONDITIONS PRECEDENT TO THE SCHEME                                         
     The scheme remains subject to the following conditions precedent:          
*    the requisite approval of Redefine linked unitholders, which is       
          anticipated to be received on 27 October 2006;                        
     *    the approval by the Competition Authorities of the acquisition;       
     *    the scheme being sanctioned by the High Court of South Africa (Cape of
Good Hope Provincial Division) on the return date; and                
     *    a certified copy of the Order of Court sanctioning the scheme being   
          registered by the Registrar in terms of the Act.                      
     SALIENT DATES AND FURTHER ANNOUNCEMENTS                                    
To the extent that approval from the Competition Authorities is obtained on
     or before 26 October 2006, the return date will be 31 October 2006 and the 
     salient dates for the implementation of the scheme will be as published in 
     the circular issued to Spearhead linked unitholders on 9 October 2006, on  
SENS on 10 October 2006 and in the press on 11 October 2006 ("the salient  
     dates timetable"). If approval from the Competition Authorities is not     
     obtained on or before 26 October 2006, the return date will be extended and
     all dates from 31 October 2006 onwards will change from those that were set
out in the salient dates timetable. In this event, further announcements   
     regarding the revised salient dates and the date on which the scheme will  
     be implemented will be published on SENS and in the press.                 
     Cape Town                                                                  
24 October 2006                                                            
     Corporate advisor, legal advisor and sponsor to Redefine                   
     Java Capital (Proprietary) Limited                                         
     Corporate advisor and sponsor to Spearhead                                 
Bridge Capital Advisors (Proprietary) Limited                              
     Legal advisor to Spearhead and attorneys to the scheme                     
     Hofmeyr Herbstein & Gihwala Inc.                                           
     Legal advisor to Spearhead                                                 
Werksmans Inc.                                                             
     Spearhead"s auditors and independent advisor                               
     PKF (Newlands) Inc.                                                        
Date: 24/10/2006 04:21:09 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department