FORTRESS INCOME FUND LIMITED - Reconstitution of the Fortress board of directors

Reconstitution of the Fortress board of directors

FORTRESS INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2009/016487/06)
JSE share codes: FFA  ISIN: ZAE000192787
                 FFB  ISIN: ZAE000192795
(Approved as a REIT by the JSE)
(“Fortress” or “the company”)


RECONSTITUTION OF THE FORTRESS BOARD OF DIRECTORS


Shareholders are advised that, pursuant to the implementation of the scheme of arrangement entered into between
Capital Property Fund Limited (“Capital”) and Capital shareholders in terms of which Fortress has acquired all of the
Capital shares that Fortress does not already own in exchange for Fortress A ordinary shares and Fortress B ordinary
shares, the board of directors of Fortress (the “board”) has been reconstituted with effect from 1 December 2015.

Iraj Abedian has been appointed as independent non-executive chairman in place of Jeff Zidel who will remain on the
board as the independent non-executive deputy chairman. Mark Stevens will remain as the managing director. Wiko
Serfontein has resigned as financial director but will remain on the board as an executive director. Wiko has been
replaced by Rual Bornman as financial director. Andrew Teixeira has been appointed as an executive director. Kura
Chihota, Nontando Mahlati and Djurk Venter have remained on the board as independent non-executive directors.
Tshiamo Vilakazi, Jan Potgieter and Banus van der Walt have been appointed as independent non-executive directors.
Craig Hallowes has resigned as an executive director of Fortress. Chris Lister-James has resigned as an independent
non-executive director of Fortress.

Accordingly, with effect from 1 December 2015 the board comprises the following directors:

Iraj Abedian (Independent non-executive chairman)          Kura Chihota (Independent non-executive director)
Jeff Zidel (Independent non-executive deputy chairman)     Tshiamo Vilakazi (Independent non-executive director)
Mark Stevens (Managing director)                           Nontando Mahlati (Independent non-executive director)
Rual Bornman (Financial director)                          Djurk Venter (Independent non-executive director)
Andrew Teixeira (Executive director)                       Jan Potgieter (Independent non-executive director)
Wiko Serfontein (Executive director)                       Banus van der Walt (Independent non-executive director)

1 December 2015


Sponsor
Java Capital

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