Exchange on 16 Grosvenor Street for 35.6 million

REDEFINE INTERNATIONAL P.L.C.

("Redefine International" or the "Company")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00B8BV8G91

REDEFINE INTERNATIONAL EXCHANGES ON 16 GROSVENOR STREET FOR £35.6 MILLION

Redefine International, the FTSE 250 income-focused UK-REIT, announces that it has, jointly with the Aegon UK Property Fund, exchanged contracts on the sale of 16 Grosvenor Street in Mayfair, London for a total consideration of £35.6 million with a private investor.

16 Grosvenor Street is a 15,709 sq ft prime office building and is currently vacant. It is one of the 19 assets included in the transformational £490 million Aegon UK portfolio acquisition from the Aegon UK Property Fund, as announced on 7 September 2015 (the "Transaction"). The Transaction is to be acquired in two tranches; Tranche One, comprising nine properties, completed in October 2015, while Tranche Two, comprising 10 further properties, is due to complete on or around 1 March 2016. 16 Grosvenor Street forms part of the second tranche, at an apportioned purchase price of £29 million.

Certain elements of the Aegon UK portfolio have been under ongoing consideration by the Company's management, together with retained advisors Kames Capital, for disposal, including 16 Grosvenor Street. The exit price of £35.6 million realises an immediate £3 million profit for the Company, after adjusting for the 50 per cent profit share, pre-agreed with the Aegon UK Property Fund in the event of a sale ahead of the Transaction's completion.

Mike Watters, CEO of Redefine International commented:

"While this is a prime asset, it is also low-yielding and, as such, sits outside the immediate, income-focused strategy for Redefine International.

"The disposal of 16 Grosvenor Street represents just one of a number of significant value enhancing opportunities that the Aegon UK Portfolio potentially holds for the Company, and progress to date on the delivery of asset management initiatives has exceeded our initial expectations.

"The early realisation of some of these opportunities is very encouraging and is testament to the strong and exciting foundation on which this transformational deal has put the business, and from here we are confident that we can continue to drive attractive shareholder value."

For further information:

About Redefine International:

Redefine International (RDI) is a FTSE 250 income focused UK-REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.

The Group's investment portfolio is diversified across the retail, commercial and hotel sectors in the UK and Germany with an aggregate value in excess of £1.3 billion.

Redefine International is focused on delivering sustainable and growing income to shareholders through investment in income yielding assets let to high quality occupiers on long leases. Capital values are enhanced and protected by asset management and other low capex development activities.

As a UK-REIT, the Group aims to distribute the majority of its earnings available for distribution on a semi-annual basis, providing investors with attractive income returns as well as exposure to capital growth opportunities.

For more information on Redefine International, please refer to the Company's website www.redefineinternational.com