Acquisition of remaining interest in Earls Court Holiday Inn Express Hotel REDEFINE INTERNATIONAL P.L.C. (Incorporated in the Isle of Man) (Registered number 010534V) LSE share code: RDI JSE share code: RPL ISIN: IM00B8V8G91 (“Redefine International” or “the Company”) ACQUISITION OF REMAINING INTEREST IN EARLS COURT HOLIDAY INN EXPRESS HOTEL Redefine International today announces that it has, through its 71% held subsidiary Redefine Hotel Holdings Limited (“RHH”), entered into a contract to purchase the remaining 40% of the issued shares in BNRI Earls Court LLP(“BNRI”), which RHH does not already own, from Camden Lock and Earls Court LLP for a purchase consideration of GBP6.3 million (the “Transaction”). BNRI, which is currently 60% held by RHH, owns the 150 bedroom Holiday Inn Express Hotel in Earls Court, London (the “Hotel”). The purchase consideration for the Transaction implies a value of GBP28.1 million for the Hotel. The Transaction is conditional on a proposed refinancing of the entire hotel property portfolio being concluded with the existing lender, which is currently in progress. The Hotel forms part of RHH’s existing portfolio of seven hotels. It is well located, close to the Earls Court Exhibition Centre and Arena and the Olympia Exhibition Centre. It is held under freehold title and is subject to a franchise agreement with IHG Hotels Limited until 2023. RHH completed a 50 bedroom extension in November 2012 and the Hotel has performed extremely well, with underlying operating earnings 15% ahead of the budget for the six months to 28 February 2014. The purchase consideration of GBP6.3 million for the remaining 40% shareholding in BNRI will be funded by utilising part of the proceeds from the Company’s recent share placement, together with further co-investment, on a pro rata basis, by the existing co-investors in RHH. The purchase consideration reflects a net initial yield of 7.0%. Commenting, Mike Watters, Chief Executive of the Company said: “We referred to this potential transaction during our recent successful GBP54.7 million capital raise and are pleased to be making the final steps towards deploying the capital now. The limited service hotel sector continues to thrive in pockets of London, and this, combined with our in-depth knowledge of the performance of this particular hotel and our ongoing belief in the potential of this sector, supports our confidence that the Transaction will deliver a high quality income to our investors.” For further information: Redefine International P.L.C. Michael Watters, Stephen Oakenfull Tel: +44 (0) 20 7811 0100 FTI Consulting UK Public Relations Adviser Stephanie Highett, Dido Laurimore Tel: +44 (0) 20 3727 1000 Marketing Concepts SA Public Relations Adviser Jaclyn Lovell Tel: + 27 (0) 11 783 0700 JSE Sponsor Java Capital Tel: + 27 (0) 11 283 0042 Redefine International is a UK REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. 31 March 2014 Date: 31/03/2014 08:00:00 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.