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Fri 20 Feb 2004, 14:14 DIRECTORS DEALING ANNOUNCEMENT
Redefine Income Fund Limited - DIRECTORS DEALING ANNOUNCEMENT                   
  Redefine Income Fund Limited                                                    
  (Registration No. 1999/018591/06)                                               
  Share Code: RDF    ISIN Code: ZAE000023503                                      
  ("Redefine")                                                                    
  DIRECTORS DEALING ANNOUNCEMENT                                                  
  In compliance with section 3.63 of the Listings Requirements of the JSE, we     
  hereby advise the following dealings by a director in the company"s securities: 
  Name of director                   :Eric Ellerine                               
  Dates of transaction               :19 February 2004                            
  Average Price                      :249,27 cents                                
  Number of linked units             :150 552                                     
  Total value                        :R375 280.97                                 
  Class of securities                :Linked units                                
  Nature                             :Sale of linked units                        
  Interest                           :Indirect non-beneficial                     
  Clearance to deal was received in terms of paragraph 3.66 of the JSE Listings   
  Requirements.                                                                   
  Johannesburg                                                                    
  20 February 2004                                                                
  Sponsor:                                                                        
  Java Capital (Pty) Limited                                                      
  Date: 20/02/2004 02:08:20 PM Produced by the JSE SENS Department
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