RDF - Redefine Properties Limited - Redefine to pay distributions twice a

RDF - Redefine Properties Limited - Redefine to pay distributions twice a       
year                                                                            
REDEFINE PROPERTIES LIMITED                                                     
(formerly Redefine Income Fund Limited)                                         
Registration number 1999/018591/06                                              
JSE share code: RDF      ISIN: ZAE000143178                                     
("Redefine")                                                                    
REDEFINE TO PAY DISTRIBUTIONS TWICE A YEAR                                      
Redefine unitholders today passed a resolution to change the frequency of       
income distributions from quarterly distributions to semi-annual                
distributions in respect of the six months ending February and August of each   
financial year.                                                                 
The resolution requires the debenture trust deed to be amended, and             
Redefine`s first quarter distribution for the three months to 30 November       
2010, scheduled to be announced on 2 February 2011, will still be               
distributed. The next distribution will be in respect of the three months       
ending 28 February 2011 and thereafter, for the six months ending 31 August     
2011.                                                                           
Redefine financial director, Andrew Konig, says unitholders will benefit from   
the change in frequency of distributions, because Redefine will earn interest   
on surplus cash, which will result in additional income to distribute to        
unitholders. "In the 2011 financial year, this will translate into an           
additional R10-million, and in 2012 it will provide approximately R20-million   
in additional income.                                                           
"In addition, having non-recurring income spread over a six month period will   
result in more consistent and predictable distributions that our unitholders    
can depend on," he says.                                                        
Konig adds that from a Redefine perspective, the change from four to two        
distributions per annum will reduce the administrative burden from an           
accounting and financial perspective, which assists in creating a more          
streamlined organisation.                                                       
Ends                                                                            
Date: 31/01/2011 17:25:01 Supplied by www.sharenet.co.za                     
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