RDF - Redefine Properties Limited - Potential acquisition of a property

RDF - Redefine Properties Limited - Potential acquisition of a property         
portfolio from Zenprop and cautionary announcement                              
Redefine Properties Limited                                                     
(Formerly Redefine Income Fund Limited)                                         
(Registration No. 1999/018591/06)                                               
Share Code: RDF    ISIN Code: ZAE000143178                                      
("Redefine")                                                                    
POTENTIAL ACQUISITION OF A PROPERTY PORTFOLIO FROM ZENPROP AND CAUTIONARY       
ANNOUNCEMENT                                                                    
Linked unitholders are advised that Redefine has concluded a framework          
agreement with Zenprop Property Holdings Limited ("Zenprop") for the            
acquisition of seven high quality investment properties from various entities   
within the Zenprop group for an aggregate purchase consideration of             
approximately R1.1 billion.                                                     
Separate agreements governing the acquisition of each of the individual         
properties still need to be concluded and, in some cases, are subject to the    
waiver of pre-emptive rights by and/or receipt of approvals from certain        
parties.                                                                        
In addition the framework agreement provides that, subject to receipt of        
certain statutory approvals by 31 December 2012, Redefine will acquire the      
properties known as the Nicol Grove precinct for a consideration of             
approximately R875 million.                                                     
The potential acquisitions are in line with Redefine`s strategy to improve      
the quality of its property portfolio through a focus on larger, high-grade     
investment properties                                                           
It is likely that, on the conclusion of the underlying agreements, the          
acquisitions will constitute a category 2 transaction and a detailed            
announcement containing all the information required in terms of the JSE        
Listings Requirements and including pro forma financial effects will then be    
released.  Linked unitholders are advised to exercise caution when trading in   
their Redefine linked units until such an announcement is made.                 
4 May 2011                                                                      
Corporate advisor and sponsor                                                   
Java Capital                                                                    
Date: 04/05/2011 15:12:51 Supplied by www.sharenet.co.za                     
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