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Redefine announces new CEO appointment                                          
Redefine Income Fund Limited                                                    
Registration No. 1999/018591/06                                                 
SHARE CODE: RDF                                                                 
ISIN CODE:  ZAE000023503                                                        
Redefine announces new CEO appointment                                          
Brian Azizalohoff has been appointed Chief Executive Officer of hybrid property 
loan stock company Redefine Income Fund, it was announced today. Azizalohoff    
takes up his appointment on 21 April 2003.                                      
Previously a director of ApexHi Properties and with sixteen years" experience in
the property industry, Azizalohoff states he intends ensuring quality           
enhancement and aggressive limitation of vacancies within both Redefine"s direct
property investments and portfolio of listed property funds.                    
Ends                                                                            
MONDAY 14 APRIL 2003                                                            
For further information contact:                                                
Brian Azizalohoff                                                               
Tel (011) 442 3111                                                              
Cell 083 255 2351                                                               
Sandy Davey                                                                     
Marketing Concepts                                                              
Tel (011) 880 2213                                                              

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