Director Dealing Investec Ltd

Investec PLC
15 December 2003

In compliance with the Johannesburg Stock Exchange ('JSE') Listing Requirements
requiring disclosure of dealings in securities of Investec Limited and Investec
plc by directors of major subsidiaries of Investec Limited, the following
information is disclosed:

Investec Limited
(Incorporated in the Republic of South Africa)
(Registration number 1925/002833/06)
Share code: INL ISIN: ZAE000040531

Pursuant to the Investec Limited black economic empowerment transaction
announced on the 15th May 2003, Tiso Group (Proprietary) Limited ('Tiso')
concluded the acquisition of 2,800,000 ordinary shares of ZAR0.001 each in
Investec Limited on the 12th December 2003.

As a consequence of the transaction Mr. Fani Titi, a director of Investec Bank
Limited has, by virtue of his shareholding in Tiso, become indirectly
beneficially interested in 2,800,000 Investec Limited ordinary shares of
ZAR0.001 each as laid out in the table below.

Accordingly, the following should be noted in accordance with the requirements
of paragraph 3.63 and 3.74 of the JSE Securities Exchange South Africa Listings
Requirements.

Non-executive director of Investec Bank Limited: F Titi

Nature of transaction:  Purchase of shares pursuant to the Investec Limited
                        black economic empowerment transaction

Nature of interest:     Indirect beneficial
Date:                   12 December 2003
Price:                  ZAR90.00
Amount:                 2,800,000



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