Acquisition of Retail Property in Germany

24 December 2012

REDEFINE INTERNATIONAL P.L.C.

("Redefine International", the "Company" or the "Group")

Acquisition of Retail Property in Hückelhoven, Germany

Redefine International is pleased to announce that the Group has completed the acquisition of a newly developed retail property in Hückelhoven, Germany (the "Property"). The Property was acquired through the Group's jointly controlled entity RI Menora German Holdings S.a.r.l. ("RI Menora").

RI Menora acquired the shares in the property owning company, ITB FMZ Hückelhoven BV & Co. KG for EUR 3.7 million (GBP 3.0 million) (EUR 4.18 million including acquisition costs). The Property has a value of EUR 11.6 million (GBP 9.4 million) and has a senior debt facility of EUR 7.9 million (GBP 6.4 million) secured against it from Bayerische Landesbank. The senior debt facility has a term of 5 years and bears interest at a rate of 1.5% above Euribor. An interest rate fix is currently being negotiated.

The Property is leased to OBI AG on a 15 year lease. OBI AG is Germany's leading DIY chain with over 580 stores throughout Europe.

The Property was acquired directly from the developers and has an area of 30,276m2 with 317 parking bays. The lettable area of the store is 11,371m2. The property was acquired at a net initial yield of 7.3%. The lease is linked to German CPI.

The acquisition was funded by the proceeds from the Company's recent capital raise and represents the fourth acquisition in joint venture with Menora Mivtachim Group, a leading Israeli pension and insurance company. The acquisition complements the existing discount retail market investments held in Germany and demonstrates Redefine International's ability to purchase quality assets in the European market in a low interest rate environment.

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