Confirmation of Cromwell Underwriting

16 December 2011

REDEFINE INTERNATIONAL P.L.C.

("Redefine International" or the "Company")

Confirmation of Underwriting of Cromwell Capital Raising

Shareholders are referred to the announcement dated 22 November 2011, in terms of which it was advised that the Company had, through its 100% held subsidiary, Redefine Australian Investments Limited ("RAIL"), entered into an underwriting agreement to partially underwrite a capital raising by the Cromwell Property Group ("Cromwell") up to a maximum amount of AUD35 million (GBP22.6 million)("underwriting commitment"), which includes RAIL's entitlement of AUD24.8 million (GBP16.0 million) (the "Transaction").

Redefine International is pleased to advise that Cromwell has today confirmed that the Company's underwriting commitment amounts to AUD35,000,000 equating to 51,470,588 stapled securities ("new Cromwell securities"). AUD9,424,997 (GBP6,098,348) of the underwriting commitment has been funded through an existing facility with Investec Bank (Australia) Limited and the balance has been funded from available cash resources. Redefine International has received a fee of AUD875,000 (GBP566,160) in consideration for providing its underwriting commitment.

The Company now holds a 24.32% interest in Cromwell. The new Cromwell securities will be admitted to trading on the ASX on 21 December 2011 and will entitle holders to a pro-rata share of the distributions from Cromwell for the quarter ending 31 December 2011. Except for this pro-rata distribution, the new Cromwell securities will rank pari passu with existing Cromwell stapled securities in issue.

The Transaction is in line with Redefine International's objective of increasing its presence in the Australian property market and is expected to be earnings enhancing for shareholders in the medium to long term.

The Transaction is expected to secure RAIL's position as the largest stapled security holder in Cromwell, and ensures Redefine International can maintain a significant influence on the affairs of Cromwell going forward.

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