RDF - Redefine - Dealing In Securities Announcement

RDF - Redefine - Dealing In Securities Announcement                             
Redefine Income Fund Limited                                                    
(Registration No. 1999/018591/06)                                               
Share Code: RDF & ISIN Code: ZAE000023503                                       
("Redefine" or the "company")                                                   
DEALING IN SECURITIES ANNOUNCEMENT                                              
In compliance with sections 3.63 - 3.73 of the Listings Requirements of the JSE 
Limited, Redefine discloses that it has been notified by Madison Property Fund  
Managers Limited ("Madison"), an "independent entity" (as contemplated in       
paragraph 3.63 of the JSE Listings Requirements) that Madison disposed of       
1,061,600 Redefine linked units on 19 April 2007 at R8.16 per linked unit (with 
a total value of R8,662,656.00). Madison has advised that the Redefine linked   
units were disposed of to fund incentivisation commitments to staff seconded to 
Redefine. Marc Wainer and Wolf Cesman who are directors of Redefine are also    
directors and (direct or indirect) unitholders of Madison.                      
As the transaction does not relate to a director`s dealing in Redefine          
securities, no clearance to deal was required in terms of paragraph 3.66 of the 
JSE Listings Requirements.                                                      
Johannesburg                                                                    
20 April 2007                                                                   
Sponsor                                                                         
Java Capital (Proprietary) Limited                                              
Date: 20/04/2007 15:02:20 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.