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Thu 15 Dec 2011, 10:51 SGA/SGB - Synergy Income Fund Limited - Directors` dealings in securities
      SGB
SIFL                                                                            
SGA/SGB - Synergy Income Fund Limited - Directors` dealings in securities       
SYNERGY INCOME FUND LIMITED                                                     
(formerly Capital Land Retail Fund Limited)                                     
(Registration number 2007/032604/06)                                            
JSE share code for A linked units: SGA       ISIN Code:   ZAE000161550          
JSE share code for B linked units: SGB       ISIN Code:   ZAE000162293          
("Synergy")                                                                     
DIRECTORS` DEALINGS IN SECURITIES                                               
Linked unitholders are advised of the following information relating to dealing 
in securities by directors of Synergy:                                          
                                                                                
Name of director:                         Sean Segar                            
Date of transaction:                      14 December 2011                      
Number of securities:                     43 706 A linked units                 
Price per security:                       R8.58                                 
Total value:                              R374 997.48                           
Class of securities:                      Synergy A linked units                
Nature of transaction:                    Subscription for A linked units in    
                                         terms of the private placement of      
A linked units detailed in             
                                         Synergy`s pre-listing statement        
                                         dated 30 November 2011                 
Nature and extent of director`s interest: Direct beneficial                     
Clearance to deal received:               Yes                                   
                                                                                
15 December 2011                                                                
Sponsor                                                                         
Java Capital                                                                    
Date: 15/12/2011 10:51:12 Produced by the JSE SENS Department.                  
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