Sharenet Sites 
Sharenet Sites
RDF - Redefine Properties - Announces third quarter distribution Redefine Properties Limited (formerly Redefine Income Fund Limited) (Registration No. 1999/018591/06) Share Code: RDF ISIN Code: ZAE000023503 REDEFINE ANNOUNCES THIRD QUARTER DISTRIBUTION Redefine Properties Limited has announced a third quarter distribution of 16,0 cents per linked unit for the period 1 March 2010 to 31 May 2010, bringing the total distribution for the nine months to end May 2010 to 49,5 cents. Redefine CEO Marc Wainer says this third quarter distribution, which is lower than the previous quarters, is due to a portion of Redefine`s forecast income being received in the final quarter. "The fourth quarter distribution to end August 2010 is anticipated to be not less than 17,0 cents, which brings the expected total distribution for the year to at least 66,5 cents, which is in line with guidance," he says. Wainer says the property portfolio, which is overwhelmingly the largest contributor to net income, is performing to expectations. "The listed portfolio has delivered income in excess of expectations, however, this has been offset by increased interest payable on the additional borrowings utilised to fund the larger exposure to offshore interests. "On the upside, as a result of restructuring a portion of debt, significant savings have been realised which will positively contribute to the annual distributions," he says. Wainer is excited about the prospects for the 2011 financial year, and says many of the initiatives that have been conceptualised in 2010 will bear fruit for the full period of the next financial year. "Between Redefine International, the Hyprop transaction, in-sourcing the property management function, and the improvement in the Redefine property portfolio, we have all the ingredients for a positive year ahead," he says. 4 August 2010 Date: 04/08/2010 16:50:25 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
