Acquisition of JV Interest in German Portfolio

REDEFINE INTERNATIONAL P.L.C.

("Redefine International" or the "Company")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00B8BV8G91

ACQUISITION OF REMAINING INTEREST IN GERMAN PORTFOLIO

Redefine International is pleased to announce that it has acquired the remaining 50% interest in Ciref Nepi Holdings Limited from its joint venture partner, New Europe Property (BVI) Ltd ("Nepi"), for a consideration of EUR3.4 million.

The joint venture owns six properties in Germany (the "Premium Portfolio"), comprising the following assets:

· two retail centres and an office building, let mainly to medical practitioners, in the Munich area;

· a retail centre anchored by a Rewe supermarket and medical offices in Leipzig;

· a retail centre in Moelln, anchored by a Norma supermarket; and

· a supermarket in Frankfurt let to a Netto supermarket.

The Premium Portfolio has a current market value of €33.4 million, with a net initial yield of approximately 6.9%. It was acquired in two stages, in joint venture with Nepi, in April 2007 and May 2008. The consideration reflects a current return on equity of approximately 10.9%. A refinancing of the portfolio is currently being negotiated, and a further announcement will follow in due course.

For further information:

Notes to editors:

Redefine International is a UK-REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.