Posting of rights offer circular FORTRESS INCOME FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2009/016487/06) JSE share codes: FFA ISIN: ZAE000141313 FFB ISIN: ZAE000141321 (Approved as a REIT by the JSE) (“Fortress” or “the company”) POSTING OF RIGHTS OFFER CIRCULAR Linked unitholders are referred to the announcements released on SENS on 9 May 2014 and 13 May 2014 in relation to the rights offer by Fortress (“the rights offer”) in terms of which: - Fortress A linked unitholders will be offered a total of 43 856 417 Fortress A linked units at an issue price of R13.90 each in the ratio of 11.52800 new Fortress A linked units for every 100 Fortress A linked units held by them on Friday, 23 May 2014; and - Fortress B linked unitholders will be offered a total of 43 856 417 Fortress B linked units at an issue price of R8.90 each in the ratio of 11.52800 new Fortress B linked units for every 100 Fortress B linked units held by them on Friday, 23 May 2014. Linked unitholders are advised that the circular in respect of the rights offer was made available today, Tuesday, 20 May 2014 on the company’s website www.fortressfund.co.za and will be posted to dematerialised linked unitholders on Tuesday, 27 May 2014. 20 May 2014 Corporate advisor, legal advisor and sponsor Java Capital Date: 20/05/2014 10:55:00 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.