Trading Update

Investec plc and Investec Limited ('Investec' or 'the group')

21 September 2005

Investor Pre-Close Briefing

             Investec continues its positive operating performance             

Investec is hosting an investor pre-close briefing today starting at 09:00
(GMT) which will focus on developments within the group's core business areas
in the first half of the new financial year ending 31March 2006.

Operating performance across all our businesses has continued the positive
trend as reported at the year end results announcement on 19 May 2005.

Stephen Koseff, Group Chief Executive, commented:

'The first half of the financial year ends on 30 September 2005 and we are
pleased to report at this point that we continue to experience a strong
performance from all our businesses. This performance has been supported by
favourable financial market conditions across all geographies in which we
operate. We maintain a positive outlook for our business given our expectation
that global economic and financial conditions will remain stable.'

Bernard Kantor, Group Managing Director, commented:

'We remain committed to delivering value for our shareholders and clients
through the investment in our people and the pursuit of long-term growth
opportunities, thereby building a robust and sustainable platform.'

Presentation details

The investor briefing presentation will be broadcast live via video conference
from the group's offices in Johannesburg to London and Cape Town. The briefing
will also be available via a live telephone conference call. A delayed webcast
and the recorded telephone conference call will be available on the website
this afternoon. Further details in this regard can be found on the website at: 
www.investec.com

Investor Relations timetable:

Six-month period end: 30 September 2005

Release of interim results: 17 November 2005

Financial year-end: 31 March 2006

Release of preliminary results: 18 May 2006


For further information please contact:


Investec Investor Relations                              Citigate Dewe Rogerson    

Ursula Munitich                                          Sara Batchelor / Simon Rigby

[phone]                                         [phone]

[e-mail]

About Investec

Investec is an international specialist banking group that provides a diverse
range of financial products and services to a niche client base in three
principal markets, the United Kingdom, South Africa and Australia as well
as certain other countries. The group was established in 1974 and currently has
approximately 4 000 employees.

Investec focuses on delivering distinctive profitable solutions for its clients
in five core areas of activity namely, Private Client Activities, Treasury and
Specialised Finance, Investment Banking, Asset Management and Property
Activities.

In July 2002 the Investec group implemented a dual listed company structure
with listings on the London and Johannesburg Stock Exchanges. Management and
staff own approximately 16% of the equity share capital of the group.

The combined group's current market capitalisation is approximately £2.2
billion.