Director/PDMR Shareholding

Investec PLC
21 December 2005


Investec Limited                             Investec plc (the 'Company')
Incorporated in the Republic of South Africa Incorporated in England and Wales
Registration number 1925/002833/06           Registration number 3633621
JSE share code: INL                          JSE share code: INP
ISIN: ZAE000040531                           ISIN: GB0031773103

    ATTRIBUTABLE INTERESTS IN THE ORDINARY SHARE CAPITAL OF INVESTEC PLC AND
                                INVESTEC LIMITED

As part of the dual listed company structure, Investec plc and Investec Limited
notify both the London and Johannesburg Stock Exchanges of those interests (and
changes to those interests) of (i) directors of both entities and the respective
company secretaries, (ii) persons discharging managerial responsibilities across
the group, and (iii) in certain instances the directors of significant
subsidiaries of Investec Limited, in the securities of Investec plc and Investec
Limited which are required to be disclosed under the Disclosure Rules of the
United Kingdom Listing Authority (the 'UKLA') and/or the JSE Listing
Requirements.

Accordingly, we advise of the following changes to attributable interests as required 
under the Disclosure Rules of the UKLA and the JSE Listing Requirements:

1. ATTRIBUTABLE INTERESTS IN THE ORDINARY SHARE CAPITAL OF INVESTEC PLC

a)       Directors of the Company

The Company received notification on the 21st December 2005 that call options in 
respect of 487,003 Investec plc ordinary shares of GBP0.001 each written by 
Spurwing - P Investments Limited ('Spurwing') were exercised on the 20th 
December 2005 at a strike price of GBP7.93 per ordinary share (the 'Transaction').

Further to the UK Disclosure Rules ('DR') 3.1.4 R (1) (a) and DR3.1.4 R (1) (b) 
we advise that as a consequence of this transaction, certain directors' 
indirect beneficial interests in the ordinary share capital of Investec plc have 
decreased as set out in the table below:

+-----------------+-----------------+-----------------+-----------------+
|Director         |Indirect         |Percentage of    |Price per share  |
|                 |Beneficial       |issued class     |                 |
|                 |interest         |                 |                 |
+-----------------+-----------------+-----------------+-----------------+
|S. Koseff        |29,444           |0.04             |GBP7.93          |
+-----------------+-----------------+-----------------+-----------------+
|G.R. Burger      |23,555           |0.03             |GBP7.93          |
+-----------------+-----------------+-----------------+-----------------+
|H.S. Herman      |11,778           |0.02             |GBP7.93          |
+-----------------+-----------------+-----------------+-----------------+
|I.R. Kantor      |29,444           |0.04             |GBP7.93          |
+-----------------+-----------------+-----------------+-----------------+
|P.R.S. Thomas    |5,889            |<0.01            |GBP7.93          |
+-----------------+-----------------+-----------------+-----------------+

Following this notification, the above directors' total beneficial and 
non-beneficial holdings and the total percentage interest those holdings 
represent in the issued ordinary share capital of Investec plc are laid out 
in the table below:

+-----------------+------------------------+---------------------------+
|Director         |Beneficial and          |Percentage of issued class |
|                 |non-beneficial interests|                           |
+-----------------+------------------------+---------------------------+
|S. Koseff        |1,057,573               |1.42                       |
+-----------------+------------------------+---------------------------+
|G.R. Burger      |556,766                 |0.75                       |
+-----------------+------------------------+---------------------------+
|H.S. Herman      |380,844                 |0.51                       |
+-----------------+------------------------+---------------------------+
|I.R. Kantor      |316,711                 |0.42                       |
+-----------------+------------------------+---------------------------+
|P.R.S. Thomas    |76,775                  |0.10                       |
+-----------------+------------------------+---------------------------+
At the same time, the Company received notification of the following
transaction:

+-----------------------------------------------------+--------------------------------------------+
|Name of Director:                                    |Bernard Kantor                              |
+-----------------------------------------------------+--------------------------------------------+
|Transaction notified in terms of:                    |UK Disclosure Rules ('DR') 3.1.4 R (1) (a)  |
|                                                     |and DR3.1.4 R (1) (b)                       |
+-----------------------------------------------------+--------------------------------------------+
|Date of transaction:                                 |20 December 2005                            |
+-----------------------------------------------------+--------------------------------------------+
|Class of shares:                                     |Investec plc ordinary shares of GBP0.001    |
|                                                     |each                                        |
+-----------------------------------------------------+--------------------------------------------+
|Nature of interest:                                  |Beneficial                                  |
+-----------------------------------------------------+--------------------------------------------+
|Number of shares:                                    |12,311                                      |
+-----------------------------------------------------+--------------------------------------------+
|Nature of transaction:                               |The 12,311 shares were disposed following   |
|                                                     |the exercise on the 20th December 2005 of   |
|                                                     |12,311 options held in terms of the Investec|
|                                                     |Share Option Plan 2002. The date of grant   |
|                                                     |for these options was the 20th December 2002|
|                                                     |with an exercise price of GBP7.93. Following|
|                                                     |this notification, Mr Kantor holds options  |
|                                                     |over 26,135 ordinary shares in Investec plc.|
+-----------------------------------------------------+--------------------------------------------+
|Percentage of issued class:                          |0.01 per cent                               |
+-----------------------------------------------------+--------------------------------------------+
|Price per share:                                     |GBP24.51                                    |
+-----------------------------------------------------+--------------------------------------------+
|Place of transaction:                                |London                                      |
+-----------------------------------------------------+--------------------------------------------+
|Total holding of issued class following notification:|300                                         |
+-----------------------------------------------------+--------------------------------------------+
|Percentage of issued class:                          |0.031 per cent                              |
+-----------------------------------------------------+--------------------------------------------+

b)       Transactions by PDMRs of the Company

We advise of the disposal of Investec plc ordinary shares following the exercise
on the 20th December 2005 of 8,383 options held in terms of the Investec Share
Option Plan 2002 by the PDMR as set out below. The date of grant for these
options was the 20th December 2002 with an exercise price of GBP7.93.

+--------------------------+--------------------------------------------+
|Name of PDMR:             |H. du Toit                                  |
+--------------------------+--------------------------------------------+
|Transaction notified in   |DR3.1.4R(1)(a) and DR3.1.4R1(b)             |
|terms of :                |                                            |
+--------------------------+--------------------------------------------+
|Number of shares:         |8,383                                       |
+--------------------------+--------------------------------------------+
|Transaction price:        |GBP24.51                                    |
+--------------------------+--------------------------------------------+

Further to Spurwing exercising call options in respect of 487,003 Investec plc
ordinary shares of £0.001 each on the 20th December 2005 at a strike price of
GBP7.93, we advise in accordance with UK Disclosure Rules ('DR') 3.1.4 R (1) (a)
and DR3.1.4 R (1) (b) that certain PDMRs indirect beneficial interests in the
ordinary share capital of Investec plc have decreased as set out in the table
below:

+--------------------------+--------------------------------------------+
|Name of PDMR:             |Reduction in indirect beneficial interest   |
+--------------------------+--------------------------------------------+
|S. Hackner                |17,666                                      |
+--------------------------+--------------------------------------------+
|A. Leith                  |17,666                                      |
+--------------------------+--------------------------------------------+

c)       Dealings in the securities of Investec plc by Directors of significant
subsidiaries of Investec Limited.

In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, we advise
 of the following transactions in the ordinary share capital of Investec plc:

+---------------+------------------+-----------------+-----------------+
|Director of    |B. Tapnack        |C. Whelan        |K. Kerr          |
|significant    |                  |                 |                 |
|subsidiary of  |                  |                 |                 |
|Investec       |                  |                 |                 |
|Limited        |                  |                 |                 |
+---------------+------------------+-----------------+-----------------+
|Nature of      |Sale of shares    |Purchase of      |Purchase of      |
|transaction    |pursuant to       |shares pursuant  |shares pursuant  |
|               |exercise of       |to exercise of   |to exercise of   |
|               |options           |options          |options          |
+---------------+------------------+-----------------+-----------------+
|Number of      |5,775             |5,775            |3,656            |
|shares:        |                  |                 |                 |
+---------------+------------------+-----------------+-----------------+
|Exercise price |ZAR 111.96        |ZAR 111.96       |ZAR 111.96       |
+---------------+------------------+-----------------+-----------------+
|Transaction    |ZAR 273.68        |ZAR 273.68       |ZAR275.05        |
|price          |                  |                 |                 |
+---------------+------------------+-----------------+-----------------+

d)       Dealings in the securities of Investec plc by the Company Secretaries
of Investec plc and Investec Limited

In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, we advise 
of the following disposals of Investec plc ordinary shares on the 
20th December 2005 in Johannesburg. The disposals follow the exercise of options 
held in terms of the Investec Share Option Plan 2002. The date of grant for 
these options was the 20th December 2002 with an exercise price of GBP7.93.

+------------------------+--------------------+------------------------+
|                        |Selwyn Noik -       |Richard Vardy - Company |
|                        |Company Secretary of|Secretary of Investec   |
|                        |Investec Limited    |plc                     |
+------------------------+--------------------+------------------------+
|Number of shares:       |495                 |793                     |
+------------------------+--------------------+------------------------+
|Price per share         |ZAR273.68           |GBP24.51                |
+------------------------+--------------------+------------------------+

2. ATTRIBUTABLE INTERESTS IN THE ORDINARY SHARE CAPITAL OF INVESTEC LIMITED, A
COMPANY INCORPORATED IN SOUTH AFRICA

a)       Dealing in the securities of Investec Limited by a Director of the
Company

+--------------------------+--------------------------------------------+
|Name of Director:         |B. Kantor                                   |
+--------------------------+--------------------------------------------+
|Transaction notified in   |DR3.1.4R(1)(a) and DR3.1.4R1(b)             |
|terms of :                |                                            |
+--------------------------+--------------------------------------------+
|Date and place of         |20 December 2005, Johannesburg              |
|transaction:              |                                            |
+--------------------------+--------------------------------------------+
|Shares:                   |Investec Limited ordinary shares of ZAR0.001|
|                          |each                                        |
+--------------------------+--------------------------------------------+
|Number of shares:         |29,444                                      |
+--------------------------+--------------------------------------------+
|Nature of transaction:    |Reduction in attributable interests         |
|                          |following the Transaction as set out in 1   |
|                          |above.                                      |
+--------------------------+--------------------------------------------+
|Transaction price:        |GBP7.93                                     |
+--------------------------+--------------------------------------------+

b)       Dealing in the securities of Investec Limited by PDMRs of the Company

We advise of the disposal of Investec Limited ordinary shares following the
exercise on the 20th December 2005 of 3,928 options held in terms of the
Investec Limited Share Option and Purchase Scheme Trust 2002. The date of grant
for these options was the 20th December 2002 with an exercise price of GBP7.93:

+--------------------------+--------------------------------------------+
|Name of PDMR:             |H. du Toit                                  |
+--------------------------+--------------------------------------------+
|Transaction notified in   |DR3.1.4R(1)(a) and DR3.1.4R1(b)             |
|terms of :                |                                            |
+--------------------------+--------------------------------------------+
|Number of shares:         |3,928                                       |
+--------------------------+--------------------------------------------+
|Transaction price:        |ZAR275.05                                   |
+--------------------------+--------------------------------------------+

Further to Spurwing exercising call options in respect of 487,003 Investec plc
ordinary shares of £0.001 each on the 20th December 2005 at a strike price of
GBP7.93, we advise in accordance with UK Disclosure Rules ('DR') 3.1.4 R (1) (a)
and DR3.1.4 R (1) (b) that certain PDMRs indirect beneficial interests in the
ordinary share capital of Investec Limited have decreased as set out in the
table below:

+--------------------------+--------------------------------------------+
|Name of PDMR:             |Reduction in indirect beneficial interest   |
+--------------------------+--------------------------------------------+
|B. Fried                  |17,666                                      |
+--------------------------+--------------------------------------------+
|S. Heilbron               |14,722                                      |
+--------------------------+--------------------------------------------+
|D. van der Walt           |17,666                                      |
+--------------------------+--------------------------------------------+

e)       Dealings in the securities of Investec Limited by Directors of
significant subsidiaries of Investec Limited.

In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, we advise
of the following purchases of Investec Limited ordinary shares on the 
20th December 2005 in Johannesburg:

+--------------------+---------------+---------------+---------------+
|Director of         |K. Kerr        |C. Whelan      |B. Tapnack     |
|significant         |               |               |               |
|subsidiary of       |               |               |               |
|Investec Limited    |               |               |               |
+--------------------+---------------+---------------+---------------+
|Number of shares    |1,969          |2,975          |2,975          |
+--------------------+---------------+---------------+---------------+
|Exercise price      |ZAR 111.32     |ZAR 111.32     |ZAR 111.32     |
+--------------------+---------------+---------------+---------------+
|Transaction price   |ZAR 275.05     |ZAR 275.05     |ZAR 275.05     |
+--------------------+---------------+---------------+---------------+

f)         Dealings in the securities of Investec Limited and Investec plc by
the Company Secretaries of Investec plc and Investec Limited

In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, we advise
of the following disposals of Investec Limited ordinary shares on the 
20th December 2005 in Johannesburg. The transactions follow the exercise on the 20th 
December 2005 of options held in terms of the Investec Limited Share Option
and Purchase Scheme Trust 2002. The date of grant for these options was the 
20th December 2002 with an exercise price of GBP7.93.

+------------------------+--------------------+------------------------+
|                        |Selwyn Noik -       |Richard Vardy - Company |
|                        |Company Secretary of|Secretary of Investec   |
|                        |Investec Limited    |plc                     |
+------------------------+--------------------+------------------------+
|Number of shares:       |255                 |18                      |
+------------------------+--------------------+------------------------+
|Price per share         |ZAR275.05           |ZAR275.05               |
+------------------------+--------------------+------------------------+

Clearance was obtained for the above dealings in securities.

Johannesburg and London

21st December 2005


Sponsor:

Investec Bank Limited



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