RDF - Redefine Income Fund Limited - Dealing in securities announcement

    RDF - Redefine Income Fund Limited - 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"), that on 26 July 2007 Madison    
    disposed of 1,028,333 Redefine linked units at a price of R7.7082 per       
    linked unit (with a total value of approximately R7,926,596). On 27 July    
    2007 Madison disposed of a further 100,000 Redefine linked units at a price 
of R7.70 per linked unit (with a total value of R770,000). The Redefine     
    linked units were surplus to Madison`s requirement for the hedge against a  
    staff bonus scheme which is linked to the performance of the Redefine       
    linked unit price. Marc Wainer and Wolf Cesman who are directors of         
Redefine are also directors and 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                                                                
    30 July 2007                                                                


    Sponsor                                                                     
    Java Capital (Proprietary) Limited                                          
                                                                                
Date: 30/07/2007 16:59:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.